Tecum Equity has recapitalized Tidewater Equipment Company, a distributor of forestry and related equipment. No financial terms were disclosed. Tecum Equity is backed by family office Western Allegheny Capital.
Pittsburgh, Pennsylvania – Tecum Equity Partners (“Tecum Equity”), a fund backed by the family office, Western Allegheny Capital, is pleased to announce its new investment in Tidewater Equipment Company (“Tidewater” or the “Company”). Tecum Equity is excited to partner with Tidewater’s management to support them through the Company’s next stage of growth. This is the fourth platform investment for Tecum Equity.
Founded in 1947, Tidewater is a leading, full-service distributor of forestry and related equipment with 16 dealership locations across the Southeastern U.S. Tidewater is led by James Young, Jr. and Earl Terry, Jr. who currently serve as CEO and CFO, respectively. Tidewater offers premier forestry equipment under the Tigercat (feller bunchers, skidders, and loaders) and Morbark (chippers, grinders, and shredders) brands, both of which are recognized in the market for product leadership. In addition to selling new and used equipment, Tidewater provides mission-critical parts and service to its large base of equipment operating in the field.
“Tidewater is led by a passionate management team with a proven track record of product and service innovation,” said Tecum Equity’s partner Tyson Smith. “We are excited about this partnership and have tremendous respect for the Company’s culture and core values, which are part of an impressive foundation built over many years. We see a highly scalable platform with a lot of room for continued growth.”
“Tecum Equity is the ideal partner and our business will benefit from their additional financial, operational, and M&A resources,” said James Young, Jr., Tidewater CEO. “We believe that Tecum’s culture, industry knowledge, and ability to execute made them the right partners to help support us in growing the Tidewater platform to the next level and we look forward to a bright future”.