Mustang Group

Mustangs are wild horses that run in herds in the Western United States. Descended from horses that were brought to the New World from Spanish conquistadors and to the frontier by American homesteaders, they are known for being very tough and independent.

Boston’s Mustang Group, which won this year’s public-to-private deal of the year award for last year’s $46 million buyout of The Vermont Teddy Bear Co. (see related article, page 65), admires the mustang’s rugged, independent nature.

“The mustang is very a independent minded horse with a lot of spirit,” says Mustang Group Managing Partner Ben Coes. “Those are qualities we aspire to.” He says that the Mustang Group is willing to look at investing in places with rugged terrain, just as Mustangs roam in places where others haven’t thought to go.

But the firm’s interest in the wild horses goes beyond their hardy reputation. The firm’s partners are also all avid horsemen. Managing Partner Bob Crowley is a frequent participant in a race called a Ride & Tie,’ where teams of two take turns running and riding a horse. It’s a 50-mile race and both runner and rider must cross the finish like together.