The Public Sector Pension Investment Board is acquiring a portfolio of vineyards in Australia.

According to the terms of the deal reached with Casella Family Brands, the investment organization will take ownership of 35 properties covering 7,215 hectares, as well as associated water entitlements, crops and equipment. The properties are located in South Australia and New South Wales.

The move is part of a strategy targeting long-term investments in Australia’s agricultural sector. In a press release, Marc Drouin, senior managing director of real assets and global head of natural resources investments at PSP Investments, said his organization would seek to add value by implementing new agricultural techniques at the vineyards. “Our commitment to sustainable farming combined with our long-term investment horizon allows PSP Investments to lever Australia’s unique global competitive position for its quality wine grapes.”

Read: Ontario Teachers’ investing in unicorn tax firm, PSP consolidating Australian cereal producers

In other news, the private equity arm of the Ontario Municipal Employees’ Retirement System is selling its stake in a calibration company.

According to the terms of the agreement between the OMERS and EQT Group, the investment organization will sell a majority stake in the Trescal Group to EQT’s Infrastructure V fund. Following the transaction, the OMERS will re-invest in the company to secure a separate, 25 per cent stake in its future.

The Trescal Group provides metrology services to businesses across Asia, Australia, Europe, North America and South America. Its services include the calibration and maintenance of test and measurement equipment used in a range of sectors, including the aerospace, automotive, defence, telecommunications and transportation industries. It also provides consulting services in acquiring and implementing test and measurement systems.

The OMERS originally invested in the Trescal Group in 2017. Since the initial investment, the company doubled in size and expanded its geographic footprint into seven new markets.

In a press release, Jonathan Mussellwhite, senior managing director and head of OMERS’ European private equity, said the deal demonstrated the organization’s ability to support strategic growth in its portfolio companies. “Throughout our tenure, Trescal delivered sustainable growth, as well as solid profitability under the leadership of a seasoned management team. . . . We are proud that, thanks to OMERS’ re-investment in Trescal, we will continue to be a material shareholder in the group and part of its further evolution.”

Read: OMERS to purchase majority stake in scientific measurement company