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Get the value you deserve.
We are an entrepreneur-led partnership formed to acquire, operate and build upon the success of one exceptional business
Tar River Legacy Partners is not a private equity fund or a buy-out shop.
OUR STORY
We are two lifelong friends strategically searching for one single business to acquire and operate. We will devote all of our time, energy, expertise, and resources to its long-term growth and success.
30 Years of Friendship
Richard and Will, friends since their early childhood days in Rocky Mount, North Carolina, have long shared a dream of collaborating on a business venture together.
They’ve spent the first decade of their careers advising and investing in small-to-medium sized businesses across a variety of sectors, and are now partnering to build and lead one exceptional business into the future.
For us, business is personal. Our friendship ensures that we approach every decision with trust, dedication, and a shared commitment to success.
WHY TAR RIVER?
The name Tar River Legacy Partners is a nod to the river which flows through Richard and Will’s hometown of Rocky Mount.
The river bisects Edgecombe and Nash counties, where their families have successfully built and stewarded small businesses for nearly a century.
The Tar River name is a constant reminder of their ultimate goal: to collectively operate and grow a small business in a way that would make their families and community proud.
Where we grew up, business wasn’t just part of the community — it was the community. Doing right by your employees and customers is a responsibility we take seriously. We understand the importance of integrity, and we believe that business should be entrusted to people who share your values.
Richard’s great-grandfather, Richard Hunt Sr., a dentist in Nash County for over 30 years
Mayo Mills has made socks in Edgecombe County for 93 years
WHY SELL NOW?
Valuations are at all-time highs
Signals of recession are growing
The business environment is as challenging as ever
Tax cuts are expiring next year (more below)
We understand that your life, family, career, and finances are deeply intertwined with your business.
Our mission is to ensure that any transaction exceeds your goals in each of those ways, and many more.
Tax Implications for You & Your Family
The Tax Cuts and Jobs Act is expiring at the end of 2025 and must be replaced by a new tax regime. Politicians are expecting to make the new law (effective in 2026 and going forward) to be implemented retroactively to proceeds earned in 2025.
On average, these tax changes will erase 2-3 years of value from a growing company. Don’t work longer to retire with less.
Richard Hunt
Growing up in a family of small business owners (his parents are both dentists who practice together), Richard has long been energized by the challenges and opportunities that face small enterprises, and the positive influence they can have on both their employees and their communities.
Prior to founding TRLP alongside Will, Richard gained professional experience working in investment banking (Piper Sandler), private equity (Blue Sage Capital) and operations (Aspire Home Healthcare). A lifelong Tar Heel, he earned his undergraduate degree from UNC-Chapel Hill, where he was a member of the club golf team, and his MBA from Northwestern University’s Kellogg School of Management.
Richard currently resides in Charlotte, NC, with his wife, Charlotte (not confusing at all!!) and their 1-year old Clumber Spaniel, “Pig.” Richard is an avid golfer and in his free time enjoys cheering on the UNC Tar Heels and spending time with Charlotte (preferably outdoors – running, hiking and skiing are favorite activities).
Will Adams
From an early age, Will has always been an enterprising young man. From lemonade stands to student government bake sales, Will has been fascinated with building a small business by putting a unique spin on traditional models (how many lemonade stands offered homemade orange crushes?). He has seen the pride, fulfillment and positive impact that a small business can offer a community through his family’s knitting mill in Tarboro, NC, which his family has run for almost a century.
Will began his career in the Consumer and Business Services division of Deutsche Bank’s investment bank in New York City, before joining BRS & Co. to work in lower middle market private equity. During his time at BRS, Will worked closely with executives and entrepreneurs to take small businesses to the next stage of growth. He also realized that in his next step of growth, he wanted to build companies as an operator, rather than from the outside seat of an investor. He earned a double degree in Accounting and Politics from Washington & Lee University, where he was honored to be a Johnson Scholar.
Will has recently relocated to Charlotte, NC, where he lives with his wife, Eileen. He is a passionate outdoorsman and runner, spending his weekends playing golf, fishing, hiking, hunting, and anything else that keeps him active and in the fresh air.
HOW ARE WE DIFFERENT?
Private Equity | Strategic Buyer | ||
---|---|---|---|
Focus | 100% of our time, energy and resources | Your business is just one among a large portfolio | Small piece of larger organization |
Objectives | Build on the existing legacy and grow the business | Cut costs, add debt and position for a quick flip | Priority #1 is improving the parent company |
Time Horizon | Long-term view, focus on lasting value creation | Typically 3-5 years | Varies |
Deal Terms / Structure | Flexible to meet the needs of the seller | Rigid terms to limit risks and maximize return for the private equity firm | Protects the larger buyer |
Current Employees | Critical to continued success | Dependent on firm's plan to maximize returns | Redundant roles often eliminated |
Owner Transition | Customizable based on current owner's needs and goals | Usually needs to keep running business | Uncertain; depends on the parent company's needs |
INVESTORS
TRLP is backed by a world-class team of experienced investors, entrepreneurs, and former business executives who have committed their time and expertise to help Richard and Will lead one great business through its next phase of growth.
Richard and Will are confident that TRLP is capable of funding transactions in the range of $10mm - $100mm+.
Contact Us
We’d love to learn more about you, your business and your goals
Richard Hunt (richard@tr-lp.com)
Will Adams (will@tr-lp.com)
Tar River Legacy Partners
223 East Blvd
Charlotte, NC 28203