NASHVILLE, TN--(Marketwire - Feb 5, 2013) - TVV Capital ("TVV Capital" or "TVV"), an established, value-oriented, lower middle-market buyout firm focused on niche manufacturing, today announced that it has acquired Bigham Brothers, Inc. ("Bigham"), based in Lubbock, TX. A leading manufacturer of premium agricultural tillage and cultivating equipment, the company's products are marketed through the Bigham Brothers and Lilliston product brands. Terms of the transaction were not disclosed.
The acquisition, which was completed in December 2012, is in keeping with TVV's steady focus on acquiring companies in the niche manufacturing industry that hold sustainable competitive advantages in stable and growing market segments.
In September 2012, TVV acquired Big 3 Precision Products, Inc., a manufacturer of injection blow molds, tooling and fabrication products for the pharmaceutical and automotive industries.
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."
Legal advisors for TVV Capital were Bass, Berry & Sims PLC of Nashville, TN.
About Bigham Brothers
Founded in 1933, Bigham Brothers, Lubbock, TX, manufactures premium agricultural tillage and cultivating equipment for the sustainable agricultural market. The company's products are marketed through the Bigham Brothers and Lilliston brands and available via a network of approximately 1,400 independent dealers and co-operatives. For more information on the company and its products, visit www.bighambrothers.com.
About TVV Capital
Founded in 1997 and headquartered in the Southeast market, TVV Capital is an established, value-oriented, lower middle-market buyout firm focused on acquiring market-leading niche manufacturers in defensive, recession-resistant sectors with strong succession management in place and identifiable growth prospects. TVV targets companies with enterprise values from $10 to $100 million, EBITDA margins of 10 to 25 percent and are characterized by positive and stable cash flows, consistent profitability and leverageable assets. TVV fully utilizes its extensive proprietary origination database and direct selling efforts to acquire companies at attractive purchase multiples. The firm applies its operating team value creation advantage to accelerate portfolio growth and expansion. TVV is managed by an experienced, stable and successful investment team that collectively represents over 100 years of Southeast market experience, 70 years of private equity and investment banking experience, and 21 years of operating experience to support its value-creation orientation and strategy. For further information, please visit www.tvvcapital.com.