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We’re not just in the goat business. We specialize in private equity and aim to deploy $100 million of long-term equity capital every year. But we kept our farming roots because we think goat farming sounds cooler than private equity (and generally, we’re more interested in the nonlinear outcomes of the compounded / MOIC models (e.g. KII, DHR) relative to the AUM / IRR models (e.g. BX, KKR)). We currently have platforms seeking deals across consumer, business services, home services, healthcare services, and beyond. We're your guys if you have a durable business with a few million of annual cash flow. The funkier the better.
We have a 30-minute introductory call to learn about your story and values and see if we can help.
We sign a mutual NDA so that the details of your business (and ours) are legally protected.
We provide a basic list of information we’d like (depends on the industry but typically revenue detail + high level financials etc.) and you send over what you can when you can. We pride ourselves on keeping things simple and not sweating the small stuff. We’re very clear on what we care about and can be super efficient with your time.
Based on the information, we’ll provide you with a simple term sheet that includes the valuation and structure of a potential partnership with us. If you want to move forward, then we would both sign a Letter of Intent (LOI). The LOI is a(mostly) non binding contract that formalizes our agreement and gets both sides aligned on the smaller points before diligence.
We begin and complete due diligence over the next 30 - 60 days, depending on the complexity of your business. While 60 days may seem long, we move very quickly to confirm the (typically) 1-3 key things we care about. Usually in the first 2-3 weeks. The rest of diligence is largely confirmatory.
We sign the purchase agreement and wire you the funds!
Goat farm to investment vehicle. A common transition.
In 1994, James founded Tucker’s Farm Goat Cheese on Hungry Bay, Bermuda with three Nubian milkers. Over the next ~25 years, the herd grew (rapidly) to eighteen milkers and two Billy goats. Eventually, James’s youngest son Kyle left his finance career (most recently as a hedge fund analyst at Viking Global and previously as a private equity associate at Apollo Global), joined his dad on the farm, and launched a long-duration private equity business. With no founding balance sheet capital, the farm built a strong institutional group of likeminded partners (e.g. large insurance / endowment managers, institutional family offices etc.), and has grown into a family of companies across industries and geographies. Today, the farm’s target deployment is roughly $100 million of equity a year with the sole focus of finding and compounding cash flows with a long-term equity base, primarily through highly active M&A strategies in the lower-middle market.
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