OAKBROOK TERRACE, IL – January 23, 2025 – Prairie Capital Advisors, Inc. (“Prairie”), a leading middle-market investment bank, is pleased to announce that Ritchie Industries, Inc. (“Ritchie” or the “Company”) was acquired by Granite Creek Capital Partners. Granite Creek led the acquisition of Ritchie and was supported by an investment from Rural American Fund and from Ritchie’s management and employees. Prairie acted as exclusive financial advisor to Ritchie and was led by Anthony Dolan and Maxx Zomick of Prairie. Terms of the transaction were not disclosed.

Ritchie Industries, Inc., based in Conrad, Iowa, offers a wide range of advanced livestock watering solutions for the beef, dairy, equine, and other livestock sectors. With more than 100 years of operating history, Ritchie has earned its reputation as a leader in animal health, known for pioneering innovation, exceptional quality, and unmatched reliability. Ritchie waterers are engineered to be durable, energy-efficient, and dependable, ensuring a continuous supply of fresh, clean water to cattle, horses, and other livestock, even in the harshest climates. Built to withstand extreme weather conditions, Ritchie products are trusted across all 50 U.S. states and are used in over 20 countries worldwide.

Rob Amundson, CEO of Ritchie commented, “Working with Prairie throughout this process has been an exceptional experience. Their deep industry and ESOP knowledge, attention to detail, and strategic insight were invaluable in helping us navigate this important transaction. We are grateful for their guidance and support, which played a key role in bringing us together with Granite Creek and Rural American Fund while positioning Ritchie for continued growth and success.”

“We are proud to have helped bring together Ritchie and Granite Creek as this partnership opens an exciting new chapter for Ritchie. I am confident that with Granite Creek’s expertise and resources, Ritchie will continue to lead the industry in innovation and quality. A particularly rewarding aspect of this deal is the successful outcome for Ritchie’s employee-owners, whose dedication has been key to the Company’s success. It’s been a privilege to work with the Ritchie team, and I look forward to seeing their continued growth,” said Anthony Dolan, Managing Director at Prairie.

Maxx Zomick, Associate at Prairie stated, “This transaction marks another successful engagement for Prairie’s Investment Banking group, highlighting our continued commitment to supporting middle-market and ESOP-owned businesses.”

Granite Creek Capital Partners, is a Chicago-based private investment firm focused on providing capital and operational resources to lower middle market companies engaged in manufacturing, business services, healthcare, and agribusiness. With an experienced team of investment professionals bringing expertise in private equity, banking, operations, and business development, Granite Creek has a successful track record of investing in and supporting its portfolio companies. Granite Creek has been named to Inc.’s Founder-Friendly Investors list for five consecutive years, honoring the private equity and venture capital firms with the best track record of success backing entrepreneurs. For more information on Granite Creek, visit www.granitecreek.com or call 312-895-4500.

About Prairie Capital Advisors

Prairie is a leading financial advisory firm specializing in creating and executing ownership transition strategies for middle-market companies nationwide. In 2023, Prairie was named ESOP Investment Bank of the Year by M&A Atlas. For more information, visit www.prairiecap.com.