- Tarter co-Chief Operating Officer Stephen Frazier will serve as CEO of the business going forward
- The Lenox Group served as financial advisor to the Tarter family
- Platinum Equity has approximately $36 billion of assets under management
Platinum Equity has acquired a majority stake in Kentucky-based Tarter Farm and Ranch Equipment. The seller is the Tarter family, which will remain a minority shareholder.
No financial terms were disclosed.
Founded in 1945 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.
Tarter co-Chief Operating Officer Stephen Frazier will serve as CEO of the business going forward.
“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.
Founded in 1995 by Tom Gores, Platinum Equity has approximately $36 billion of assets under management.