
Tracy Christian
CFO
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- Full Name
- Tracy Christian
- Title
- Chief Financial Officer
- Firm
- Great Range Capital
- Firm Type
- Lower-middle-market private equity firm (control buyouts) — note: not an angel/seed investor
- Investment Stage
- Control equity in established, profitable operating companies (buyouts, recapitalizations, build-ups, growth financings) — not seed-stage
- Check Size
- Firm targets companies with >$3M EBITDA and $10M–$150M in revenue
- Target Company Profile
- Profitable, mid-sized, often family- or founder-owned Midwestern businesses, frequently making their first institutional transaction
- Sector Focus
- Business & industrial services, healthcare services/devices, retail & consumer, and niche manufacturing
- Geographic Focus
- U.S. Midwest / Heartland
- Location
- Mission Woods, Kansas (Greater Kansas City)
Background
Tracy Christian is the Chief Financial Officer of Great Range Capital, a private equity firm based in Mission Woods, Kansas, in the Greater Kansas City area. She is a licensed Certified Public Accountant with more than twenty years of experience advising companies across a range of consulting engagements. She earned her accounting degree from the University of Tulsa, graduating with honors in 1989.
She began her career at Ernst & Young, the international public accounting firm, where she was responsible for supervising staff and planning, organizing, and administering audit engagements. In 1996, she left to launch her own independent consulting practice, providing outsourced CFO services to clients primarily in the private equity, manufacturing, airline, and high-tech industries.
Her consulting work has spanned accounting and investor relations for private equity firms, developing and performing due diligence procedures for acquisitions, preparation for financial statement audits, initial public offerings, and the preparation and filing of registration statements, as well as financial modeling. In her role at Great Range Capital, she oversees the firm's financial, accounting, and investor-relations functions.
Great Range Capital itself was founded in 2010 by Ryan Sprott and Paul Maxwell — brothers-in-law who had worked in New York private equity for nearly two decades before returning to the Midwest to invest in "the Heartland." The firm positions itself around "Institutional-Grade Investing. Midwestern Values." Tracy Christian's finance-and-operations background supports the firm's hands-on model with founder- and family-owned companies.
Investment Thesis & Focus
- Acquires controlling equity interests in established, profitable mid-sized Midwestern companies — this is buyout/control investing, not angel or seed-stage venture.
- Financial screen: generally greater than $3M of EBITDA and minimum revenues of ~$10M, with the firm often citing a $3M–$15M EBITDA and $10M–$150M revenue sweet spot.
- Sector focus: business & industrial services, healthcare services/devices, retail & consumer, and niche manufacturing.
- Transaction types include leveraged and management buyouts, recapitalizations, build-ups, growth financings, and structured equity.
- Strong preference for family- or founder-owned businesses that have never been through an acquisition, offering owners a first institutional partner and liquidity/transition solution.
- Firm positioning: "More than an investor" — emphasizes deep regional networks, an experienced team, and industry advisors as differentiators for Midwestern business owners.
Notable Investments
- Mountain Valley Spring Company (Hot Springs, Arkansas) — the oldest continuously operated bottled water company in the U.S. ("America's Premium Water since 1871"); Great Range acquired a majority stake in 2014 and later exited.
- Apple Bus Company — student/transportation bus services.
- Citadel Security USA — security services.
- Fairbank Equipment — industrial equipment.
- Labor Source — staffing / services.
- Salon Service Group — beauty/retail distribution.
- Burns Auto Group, GP Industries, Repairs Unlimited, Spirit Miller, and College Coaches Skills Camp — additional portfolio companies spanning automotive, manufacturing, services, and education.
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