Senninger Irrigation Inc., a 53-year-old Clermont-based company that designs, manufactures and sells irrigation products, was purchased by Hunter Industries, an international designer and manufacturer of irrigation products.
"We did go through with a business acquisition with Hunter Industries," James Burks, president of Senninger, told GrowthSpotter. "We will continue to operate as we have for 53 years with the same staff and operations, but as a subsidiary of Hunter."
Burks did not disclose the sale price of the company, but Lake County records show Hunter spent $4.9 million for about 20 acres the company occupies along SR 50 in Clermont.
Senninger, a privately held company, designs, manufactures, and sells water and energy-efficient sprinklers, spray nozzles, pressure regulators and other irrigation tools for agriculture, mining, effluent and wastewater applications, as well as the dairy industry.
Burks said purchase discussions began about a year ago, and both companies went through a period of due diligence before finalizing the deal at the end of the year.
"Cultural fit was extremely important to us," said Burks. "We are excited about it. There is going to be cross-pollination and great cultural alignment."
It also will allow for the possibility of expansion for the Clermont business.
"We are always growing and looking at expanding, and as all the subsidiaries of Hunter grow we will too," Burks said. No specific expansion plans have been announced, with Burks saying the company's current land holdings are enough for now.
Senninger's operations began in 1963 by Joe Senninger with nephews Andy and Mark Healy joining him in 1964 and 1965.