From Apollo & Viking to the Gritty Lower Middle Market. Building Tucker’s Farm with Kyle Tucker

On today’s episode, Kyle Tucker, founder of Tucker’s Farm Corporation, joins Peter Lehrman to share his journey from big league private equity and hedge fund land to creating a unique investment platform focused on roll-ups in the lower middle market. 

Kyle shares how early inspiration from Warren Buffett and experiences in private equity shaped his approach to long-duration, high-compounding investments. They discuss Tucker’s Farm's focus on aggregation strategies, the importance of friction in deal sourcing and in deal execution, and why Kyle prioritizes operational scale over traditional private equity paths.

Discussion Points:

• Kyle Tucker’s early inspiration and career path through Apollo and Viking
• The appeal of value investing and structured private equity strategies
• Discovering the potential of roll-ups and aggregation strategies
• Founding Tucker’s Farm and its focus on high-compounding investments
• Structuring deals for flexibility and identifying true compounders
• Lessons from launching a med spa roll-up and handling early setbacks
• The role of friction in sourcing and why opacity creates opportunity
• How Tucker’s Farm balances operational scale with investment judgment
• The evolving private equity landscape and navigating market saturation
• Kyle’s perspective on staying in the lower middle market while scaling horizontally

Masters in Small Business M&A (sign up for podcast drops here) is produced by its host Peter Lehrman and the team at Axial (www.axial.com). Axial makes it easy for qualified business owners to confidentially explore growth capital and exit transactions with the lower middle market’s top-ranked lower middle market M&A advisors and professional capital partners. In every episode, we explore the dynamic world of small business M&A, interviewing a mix of proven and emerging owners, operators, acquirers, and M&A advisors whose strategies and methods are being put to the test.

If you’d like to go deeper, head to Axial.com, where we make available the Axial member directories, downloadable tools for dealmakers, the Axial quarterly lower middle market investment banking league-table rankings, the SMB M&A pipeline report, and other useful information. If you’re a business owner, professional acquirer, or M&A advisor, you can start using Axial for free at Axial.com.