QC Supply

QC Supply

Specialized Distribution



QC Supply (“QC”) was founded in 1982 and grew to become one of the largest distributors and suppliers of farm and livestock equipment and supplies in the United States. The company offers a full range of products through its warehouse, retail and online channels to a diverse base of customers in the livestock, consumer, industrial and general agribusiness markets.


QC’s CEO and founder, Lonnie Kitt, sought out a financial partner to diversify his net worth and more importantly to help QC transition from a family-owned and operated business limited by its organizational structure to a professionally managed business with the ability to grow organically and via acquisition. Mr. Kitt’s goal was to recruit a top-notch CEO who would allow him to transition to the role of Chairman while ensuring that QC, one of the largest employers in his hometown, would continue to thrive.

Investment Date: June 2013
Investment Status: Exited December 2016

Post Acquisitions Initiatives

Management Augmentation:

  • Recruited a talented and experienced CEO with prior private equity experience to lead the organization.
  • Hired the company’s first CFO, who had relevant industry experience, while preserving a key leadership role for the company’s longtime Controller.
  • Recruited professional leaders in the sales, marketing and purchasing areas.

Operational Improvements:

  • Created a formal organization structure, reducing the number of direct reports to the CEO dramatically.
  • Significantly enhanced management information systems, supporting the creation of a “metrics-driven culture.”
  • Overhauled the purchasing function, yielding $1.8 million in annual savings.

Organic Growth:

  • Established two de novo locations in new geographic territories.
  • Formalized a favorable arrangement with a leading OEM, reducing reliance upon a large vendor.
  • Augmented the sales team, added new products and broadened customer reach.
  • Sustained a 11.2% annual organic growth rate.

Acquisition Growth:

  • Created a formal acquisition program, led by the Chairman.
  • Completed and integrated ten acquisitions.
  • Developed a pipeline of more than 30 additional, active acquisition targets.
  • Acquisitions more than doubled the company’s organic growth rate.

Operating Results

By pursuing an acquisition strategy, the company accelerated its growth rate, leading to an EBITDA increase of 99% over a 3 1⁄2 year period.


QC was sold to a financial sponsor in December 2016.

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