PLATINUM EQUITY ACQUIRES MAJORITY SHARE OF TARTER FARM AND RANCH EQUIPMENT

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LOS ANGELES, April 3, 2023 /PRNewswire/ — Platinum Equity announced today the acquisition of a majority interest in Tarter Farm and Ranch Equipment from affiliates of the company’s founders.

Platinum Equity Acquires Majority Share of Tartar Farm and Ranch Equipment

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.

“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,” said Platinum Equity co-president Jacob Kotzubei. “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.”

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.

“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,” said Anna Tarter Smith. “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.”

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 Mr. 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.”

Willkie Farr served as legal counsel to Platinum Equity on the Tarter acquisition.

The Lenox Group served as financial advisor to the Tarter family and Nelson Mullins served as the Tarter family’s legal counsel on the transaction.

About Platinum Equity

Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with approximately $36 billion of assets under management and a portfolio of approximately 50 operating companies that serve customers around the world. Platinum Equity specializes in mergers, acquisitions and operations – a trademarked strategy it calls M&A&O® – acquiring and operating companies in a broad range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications and other industries. Over the past 27 years Platinum Equity has completed more than 350 acquisitions.

Media Contacts:

Dan Whelan 

Platinum Equity 

(310) 282-9202 

[email protected]

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SOURCE Platinum Equity

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