Nashville-based TVV Capital has purchased Bigham Brothers Inc., a Lubbock, Texas-based provider of agricultural equipment, according to a news release.
Terms of the transaction were not disclosed.
TVV is a buyout firm focused on niche manufacturing. According to the release, the acquisition of Bigham Brothers is in keeping with the company's focus on acquiring niche manufacturing companies that hold "sustainable competitive advantages in stable and growing market segments."
The following are excerpts from a TVV Capital news release:
Bigham customers are commercial farm operators who purchase the company's equipment through an independent dealer network of over 1,400 locations, with strengths in Texas, the Southwest and Mississippi Delta regions. The company's innovative products are used in both flat and raised bed planting environments and serve to reduce tractor fuel consumption, control soil and water erosion and aerate the soil.
"The acquisition of Bigham Brothers is a continuation of TVV Capital's focused approach, ability to independently source deals and cultivate relationships to identify and invest in high-growth opportunities on behalf of our investors," said Andrew W. Byrd, TVV Capital's president. "Given its management team, current market penetration and future product strategy in the sustainable agriculture movement, Bigham is poised for considerable growth and market expansion."
"TVV Capital approached us as a true partner would. From the onset, they brought a unique understanding of our market, management style and future vision," said Sandy Kimball, retiring president of Bigham Brothers. "TVV's acquisition of Bigham will enable us to not just maintain, but also aggressively expand our U.S.-based manufacturing facility to keep pace with market demand and continue our growth trajectory."