TVV Capital acquires Pitonyak Machinery Corp
Buyout firm TVV Capital whose focus is value oriented niche manufacturing, recently announced its acquisition of Pitonyak Machinery Corp. The said acquisition would support the continue to support Bigham Brothers, another TVV portfolio company. The terms of the acquisition were not disclosed.
Pitonyak Machinery Corp is based out of Carlisle, AZ and is a branded manufacturer of agricultural implements such as grain carts, seedbed preparers and land levelers. These equipment have known to be complementary to the Bigham product line providing for a mutual access to a local manufacturing facility. Ultimately, all implements manufactured will carry the Bigham brand.
According to TVV President Andrew W. Byrd, "The acquisition of PMC is a reflection of TVV's continued expertise in directly sourcing and closing deals in the niche manufacturing industry. In the particular case of PMC, it highlights our ability to scout deals that also aid in the rapid expansion of an existing portfolio company. Bigham is currently benefiting from growth that's driven by superior products and the implementation of lean manufacturing practices. When combined with favorable market conditions, such as expanding farm incomes and increasing crop demand, the addition of PMC fully supports Bigham's growth-through-acquisition strategy."