Tucker’s Farm Corporation (“Tucker’s Farm”), a value-oriented investment holding vehicle, today announced the capitalization of its tech-enabled locksmith and access-control holding company, The Badlands Security Company (“Badlands”), and the concurrent acquisition of one of the largest family-owned locksmiths in the country (“Platform Asset”). The Platform Asset is over 70 years old and covers approximately 10,000 doors across its services.
Gabe Littman, COO of Tucker’s Farm Corporation, remarked:
“Badlands is an exciting addition to the Farm’s growing family of companies. We have a phenomenal partner in our Platform Asset and feel that we can incubate a world-class, tech-enabled, access-control business with them and other partners. If there are any locksmiths out there that would like to join our family, please reach out!”
Hy Vaupen, founder of Vaupen Financial Advisors which served as financial advisor to the Platform Asset, added:
“I was impressed by the sincerely courteous and respectful way everything was handled from start to finish. Everyone at Tucker’s Farm acted as proper fiduciaries and demonstrated the honest character that they are at their core. That is a reflection of why I believe that this transaction will translate into a highly successful business and personal relationship to move this company to the next phase of its evolution, which the family proudly founded.”
Quilvest Capital Partners (“Quilvest”) served as debt financing partners for the transaction. Charles Davis, a partner at Quilvest, added:
“We are pleased to partner with Tucker's Farm and the founding family of the Platform Asset and look forward to being a part of the growth story going forward. We value Tucker's Farm's partnership-centric approach and are eager to continue our long-term relationship with them.”
This is the fifth transaction for Tucker’s Farm Corporation in recent months including; i) selling VIO Medspa to Freeman Spogli, ii) closing a Series A for its aesthetics sub-HoldCo (~$100 million valuation, ~$40 million of revenue across ~16 aesthetic clinics and ~10 brands), iii) acquiring Christmas Décor (~28 year old brand/franchisor with ~$75 million in system sales across ~250 territories) via its Wonder Franchises sub-Holdco and iv) acquiring Pizza Factory (~48 year old brand/franchisor with ~$94 million in system sales across ~110 restaurants) via its Wonder Franchises sub-HoldCo.
Harris Williams & Co served as financial advisor and Taft Stettinius & Hollister LLP acted as legal counsel to Tucker’s Farm Corporation.
About The Badlands Security Company
Badlands is a holding company subsidiary of Tucker’s Farm Corporation. Incubated with committed capital from Tucker’s Farm Corporation and select institutional partners, Badlands is dedicated to partnering with best-in-class locksmiths and access-control assets across North America. Badlands takes a technology-first approach, and its current partnership group covers approximately 10,000 doors. For more information, please visit: www.badlandssecuritycompany.com.
About Tucker's Farm Corporation
Founded in 1994 as a small goat dairy, Tucker’s Farm Corporation is a value-oriented holding vehicle that has grown into a family of companies across industries and geographies. The farm aims to deploy ~$50-100 million of long-term equity capital every year as it seeks to find and compound cash flows through highly active M&A strategies in the lower-middle market (and still boasts a strong herd of ~20 Nubian half-pygmy goats). For more information, please visit: www.tuckersfarm.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250313288677/en/
Contacts
Gabe Littman | gabe@tuckersfarm.com
