Double L Acquired by Idaho Investors
Double L, a prominent manufacturer of farm equipment in the Intermountain West, announced it has reached a definitive agreement to be acquired by a group of Idaho investors. The strategic investors include Teton Management Group, Pickett Equipment, and the Idaho Legacy Fund, all of whom 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.
Founded in 1975, Double L is a known brand in the international potato equipment market, providing durable harvesting and handling solutions for farms throughout the United States. 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.
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, said he is pleased with this opportunity to ensure Double L’s future growth. “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. 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.”
The terms of the transaction were not disclosed.