Platinum Equity recently announced the acquisition of a majority interest in Tarter Farm and Ranch Equipment from affiliates of the company’s founders. And the Tarter family remains a minority shareholder. The financial terms were not disclosed.
Launched by the Tarter family in 1945 as the Tarter Gate Company, the business expanded significantly in recent years to include a broad range of ranch and farm equipment. And now Tarter manufactures animal gates and fencing solutions, tractor implements, planters and fire rings, and animal feeding and handles equipment for ranchers, large institutional farms, and smaller farming enthusiasts.
Tarter’s operations have grown to include about 1.1 million square feet of production facility space in two Kentucky communities and a manufacturing and distribution center in Corinne, Utah. And 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. And the Tarter acquisition is being led by Platinum Equity’s Small Cap investment team.
KEY QUOTES:
“We admire what the Tarter family has built and have great respect for what the company means to its employees, customers and the communities they serve. Family farms and ranches are a vital part of the U.S. agricultural economy. We believe Tarter is one of the only companies that has the capacity and capability to serve the largest and most demanding customers in the space.”
- Platinum Equity co-president Jacob Kotzubei
“I am deeply proud of what Tarter Farm and Ranch Equipment has become and equally optimistic about the company’s future with Platinum Equity’s support. We have great products, loyal customers and a strong brand. I’m grateful for the hard work and commitment of all Tarter employees and excited about what lies ahead.”
- Anna Tarter Smith
“Tarter has taken pride in being a leader in the farm and ranch industry for more than 75 years. 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.”
- Stephen Frazier
“Platinum Equity has a lot of experience helping founder-owned businesses evolve and maximize their potential. 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.”
- Platinum Equity Managing Director Dan Krasner
