KANSAS CITY, Mo. (Jan. 6, 2022) — Kansas City-based private equity firm Great Range Capital (GRC) has announced that it has sold Fairbank Equipment Inc. to Pfingsten Partners, a private equity firm headquartered in Chicago, Illinois. TM Capital acted as the exclusive advisor to the company in conjunction with the transaction.
Fairbank Equipment, which distributes agricultural and propane parts and equipment, joined GRC's portfolio in December 2012. Since then, GRC has supported Fairbank's management team in further penetrating the fertilizer and propane markets, targeting adjacent geographies for expansion, introducing new products and brands, and pursuing strategic acquisitions.
"It isn't easy to open up your family business to outsiders," said Cody Wray, whose grandfather founded Fairbank Equipment in 1946 and who now serves as the company's chairman, "but the team at Great Range Capital put us all at ease. Their respect for our history, culture and expertise was evident at every step of the partnership, and we're grateful for their support over the past 9 years."
"We're proud to have been a part of Fairbank Equipment's storied legacy and it's been a true honor to partner with the Wray family and the company's management team," said Mark Robinson, managing director at GRC. "We look forward to following Fairbank's ongoing successes in the years to come."
