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Press release Stockholm October 26 , 2021 Husqvarna Group to acquire Orbit Irrigation in the U.S. , creating the global market leader in residential watering Husqvarna Group has signed an agreement to acquire Orbit Irrigation , a leading provider of residential watering solutions in North America . Orbit will become part of Husqvarna Group's Gardena Division , establishing a global leader and creating growth opportunities for both brands . Orbit's net sales during the last 12 months amounted to approximately USD 320m with an operating margin slightly below Husqvarna Group average . The purchase price corresponds to an enterprise value of USD 480m on a cash and debt - free basis and will be financed through existing cash and undrawn credit facilities . " We now form a clear global market leader within residential watering when combining Orbit's North American business with Gardena Division's strength in Europe . We will continue to build on Gardena's and Orbit's successful developments . This provides an excellent position and the scale to continue to lead and transform the market towards smart , sustainable gardening solutions , " says Henric Andersson , President and CEO of Husqvarna Group . Orbit , based in Salt Lake City , Utah , has approximately 300 employees and generates over 95 % of its revenues in North America , where Gardena's presence today is limited . The Orbit product offering includes watering equipment sold through retail , garden centers , e - commerce and professional channels . In addition , the company's B - hyveⓇ suite of smart products , with 1.4 million connected devices , helps consumers conserve water , promote plant health and save money . " The acquisition of Orbit provides Gardena access to strong go - to - market capabilities and operations infrastructure in North America , " says Pär Åström , President of the Gardena Division . " This will enable us to grow Gardena over time as a premium garden technology brand across North America , through our offering of robotic mowers , smart watering solutions and gardening tools . The combination of Orbit and Gardena also enables accelerated growth for Orbit , leveraging Gardena's innovation capability and broad product portfolio . " The transaction is expected to close before year - end 2021 but remains subject to customary regulatory approval . Orbit is currently a portfolio company of Platinum Equity . Conference call There will be a conference call and webcast on October 26 2021 at 10.00 CET for analysts , investors and financial media , with Henric Andersson , CEO Husqvarna Group , Pär Åström , President Gardena Division , and Glen Instone , CFO . Presentation material will be available on Husqvarna Group's website before the conference starts . Dial - in numbers for the conference call : Sverige : +46 8 50558353 UK : +44 3333009271 US : +1 6319131422 Participant PIN : 54834915 # Address Husqvarna AB ( publ ) Box 7454 SE - 103 92 Stockholm Sweden Visiting address Regeringsgatan 28 Telephone +46 8 738 90 00 Fax +46 8 738 94 01 Reg . No. 556000-5331 H Husqvarna Group Web site www.husqvarnagroup.com