Platinum Equity announced April 3 the acquisition of a majority interest in Tarter Farm and Ranch Equipment from affiliates of the company’s founders.
The Tarter family remains a minority shareholder. Financial terms were not disclosed.
Founded by the Tarter family in 1945 as the Tarter Gate Company, the business has expanded significantly in recent years to include a broad range of ranch and farm equipment. Today Tarter manufactures animal gates and fencing solutions, tractor implements, planters and fire rings, and animal feeding and handling equipment for ranchers, large institutional farms and smaller farming enthusiasts.
Tarter’s operations have grown to include approximately 1.1 million square feet of production facility space in two Kentucky communities and a manufacturing and distribution center in Corinne, Utah. The company sells products through retail channels and serves as a supplier to ranch and farm equipment OEMs.
Tarter co-chief operating officer Stephen Frazier will serve as CEO of the business going forward.
“Tarter has taken pride in being a leader in the farm and ranch industry for more than 75 years,” said Frazier. “This new and transformational partnership brings exciting growth opportunities for the employees, community, and business, and positions us well to meet the needs of our customers in a very dynamic environment.”
The Tarter acquisition is being led by Platinum Equity’s Small Cap investment team.
“Platinum Equity has a lot of experience helping founder-owned businesses evolve and maximize their potential,” said Platinum Equity Managing Director Dan Krasner. “Our global experience and expertise in areas like sourcing and supply chain, manufacturing, digital transformation and business scalability can help Tarter take the next step.”
Source : Farm Equipment