Mar 25, 2021Double L potato equipment firm purchased by Idaho-based investor group
Double L, an Idaho-based supplier of farming equipment, has been purchased by a group of investors, the company announced March 25.
The group includes Teton Management Group, Pickett Equipment and the Idaho Legacy Fund, all of which are headquartered in Idaho and led by individuals who have experience in the agriculture industry. This strategic investment will enable the company to accelerate product offerings, expand support for customers, and enter a new era of leadership in the farm equipment industry.
Kurt Harman, managing member of Teton Management Group, said: “This transaction merges a rural icon with local investors who understand and know the importance of building a community and region. This investment will harness a powerhouse of experience in the investor group. We are excited to partner with the team at Double L who care about the potato industry and know how to build a quality product.”
Founded in 1975, Double L provides durable harvesting and handling solutions for farms throughout the U.S. Located in the heart of the largest potato producing region in the nation, Double L has grown over its 45 years to serve not only potato growers in the U.S. but farmers of numerous crops in countries around the globe.
“Double L, along with the new investor group, is committed to continuing this legacy by working alongside customers, understanding their needs, and delivering the equipment, parts, and services required to enhance their growing and harvest seasons,” the company stated in a press release.
Newly appointed Double L CEO Jeff Sayer is the former Idaho Secretary of Commerce and Managing Member of Idaho Legacy Fund. “Double L is a family-built legacy and a vital part of a rural community that provides high quality, American manufacturing jobs,” Sayer said. “Helping them reach their potential is a quintessential example of why we started the Idaho Legacy Fund. We are honored to help Double L reach its potential.”
Chris Hunsaker, former CEO of Double L, who will assume a new role of chief business development officer. “As a company, we have worked hard to get to this point. We are excited about Double L’s future and how its new partners can play a significant role in maximizing the company’s potential,” Hunsaker said. “But even more importantly, we look forward to supporting our customers at a higher level via new products and services. The Double L vision has always been to advance agriculture through innovation, and that vision will continue.”