SRM Holdings and Double L Global Announces Ownership Consolidation and CEO Appointment

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Sep 09, 2021, 12:06 ET

HEYBURN, Idaho, Sept. 9, 2021 /PRNewswire/ -- Double L, a prominent manufacturer of farm equipment in the Intermountain West, announced today it has formally concluded its ownership and relationship with the company's prior management team and Board of Directors. SRM Holding, comprised of Teton Management Group and Snake River Manufacturing, has completed the buyout of Double L's former owners, including the Hunsaker Group. Wayne Powell, SRM Holding's Chairman of the Board, formally thanked the Idaho Legacy Group for its ability to bring together the group of investors that closed on the initial Double L acquisition in March 2021.

The SRM Board of Directors has appointed Grant R. Flaharty as Double L's new Chief Executive Officer. Flaharty joined the company on June 1 and, since then, has brought rapid positive change and structure to its team. Flaharty has more than 20 years of experience in the manufacturing industry, splitting that background evenly between high and low environments. His expertise extends to operations, sales and marketing, product management, and implementation of ERP systems. Flaharty also has a successful history with turnarounds and growth companies with engineered technology.

The Double L CEO has already installed a new management team in Idaho. "We are looking forward to growing with our partners, customers, and full supply chain in the coming years," Flaharty said.

SRM Holdings is aggressively pursuing growth acquisitions and expects to make announcements about future growth soon. "Grant's appointment by SRM Holdings' board allows us to focus on future growth in both the agricultural and non-agricultural markets," Powell said.

About Double L

Founded in 1975, Double L provides a wide variety of agricultural solutions to the U.S. potato farming industry, including farming equipment, product handling, commodity transport, storage solutions, and waterless chemical application. For more information, please visit www.doublelglobal.com.

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SOURCE Double L