Cody Agee
LinkedIn Copy
Hey Cody — similar path (JPM → search fund acquisition). been thinking a lot about proprietary origination in the ETA space lately. would be good to connect.
Hey Cody, looks like we share a similar IB path, though I was at Greenhill in London not JPM in New York. origination was always the same story for me — clear thesis, decent relationships, but no proprietary system of record. the people, tools and ideas were never really connected. every deal virtually sourced from scratch, nothing compounding over time. curious if that's still how most funds operate or if I'm behind the times? — Russ
Hey Cody, looks like we came up through a similar IB → acquisition path, though I was in London doing growth equity deals at Greenhill not at JPM in NYC building toward a search fund like you. the pattern I keep seeing with most funds is weirdly consistent — strong thesis, solid network, but no proprietary system of record. the people, tools and ideas are never really connected, so every deal is virtually sourced from scratch. nothing compounds on itself. curious if that resonates or if you've already built something different at Split Mountain? — Russ
hey Cody — no worries if the timing's off. most funds I talk to have tried some version of building origination in-house — analyst pulling from Pitchbook or Grata, maybe ChatGPT to help qualify, dumping it into a spreadsheet. each piece kind of works, but there's no system of record tying it together. tonnes of wasted energy and everything ends up out of sync. been helping a few funds like Mentmore work through that. curious if you've run into the same thing at Split Mountain? — Russ
totally get it if origination infrastructure isn't top of mind right now — most funds have 10 things ahead of it on the priority list. the funds I've seen crack it early just tend to compound deal flow in a way that's hard to replicate later. if it ever moves up the list, I'm easy to find. — Russ
Email Copy
Cody — Caught your Acquiring Minds episode — the Sierra Dairy Lab story is great. I did a similar jump: banking (Credit Suisse NYC, then Greenhill in London for TMT M&A) into growth equity, and now running my own thing. The leap from banking to actually operating a business is a different animal entirely. I built SearchLoop after spending three years deploying €10-30M tickets into European companies and realizing sourcing was eating all my time. Now we build custom deal sourcing systems for investors. Backer Group in the UK uses it to source service and light manufacturing businesses → score them on acquisition fit → reach owners and book meetings. With Split Mountain focused on partnering with SMBs in Southern California, there's a version of this that maps well — especially for finding owner-operated businesses in specific geographies and verticals. We've already built out pipelines in adjacent spaces from work with Backer — worth a quick call to walk through what's in there? Russ searchloop.ai linkedin.com/in/russellt23
Prospect Research
## PROSPECT INFORMATION: Name: Cody Agee Title: Founder and Managing Partner Fund: Split Mountain Capital Background: PROSPECT SUMMARY: CODY AGEE CURRENT FOCUS Cody is currently the Owner and CEO of Sierra Dairy Laboratory, based in Tulare, California. He acquired the 35-year-old business in November 2023 through his search fund, Split Mountain Capital. His day-to-day focus involves managing a team of 11-50 employees providing specialized analytical chemistry, microbiology, and water testing services for the dairy industry, including major certifications from the FDA, USDA, and CDFA. BACKGROUND & EXPERIENCE Prior to becoming an operator, Cody had a high-level career in finance. He spent five years at J.P. Morgan in New York and San Francisco, rising from Investment Banking Analyst to Associate. He founded Split Mountain Capital in 2022 to pursue entrepreneurship through acquisition (ETA). He is a member of Hampton, a private network for founders. Educationally, he holds a B.A. in Finance (Cum Laude) from Linfield College, where he played varsity football, and he completed a Mandarin immersion program at Peking University. KEY SKILLS Strategic leadership, entrepreneurship through acquisition (ETA), investment banking, financial modeling, and dairy industry quality assurance. He is also proficient in Chinese (Professional Working) and holds FINRA Series 79 and 63 certifications. POSTS & DIRECT QUOTES - November 1, 2024: "Today marks the first anniversary since our acquisition of Sierra Dairy Laboratory last November. I haven't broken anything quite yet, and our team rewarded me with a cake to celebrate the occasion." - September 9, 2024: "Each year, we complete over 600,000 tests to help our partners maintain the highest safety and quality standards in their products... For over 35 years, we’ve proudly served more than 200 customers." - May 23, 2024: "I had the pleasure of joining Will Smith on the latest episode of the Acquiring Minds podcast. I share my journey leading up to the acquisition of Sierra Dairy Laboratory last fall." - January 3, 2024: "I am excited to share that Split Mountain Capital has acquired Sierra Dairy Laboratory... As part of the acquisition, I have assumed a day-to-day operating role." - December 6, 2022: "A brief one pager on what I'm searching for at Split Mountain Capital. If you know of a business for sale with $1M+ cash flow and located in Southern California (or can be managed remotely), please keep me in mind!" RECENT COMPANY UPDATES (SIERRA DAIRY LABORATORY) - January 22, 2025: "Elevate your dairy product quality with our cutting-edge analytical chemistry services! ...Mojonnier Fat Analysis: Precise fat content determination." - December 3, 2024: "Some entrepreneurs start companies, others buy small businesses and then grow them. This week, Cody Agee shares his story of searching, acquiring, and growing Sierra Dairy Laboratory [on The Modern Acre podcast]." Fund details: - Description: Split Mountain Capital is an entrepreneurial investment firm that is seeking to partner with one high-quality, small-to-medium sized company in Southern California. We provide a simple and flexible alternative to business owners who are looking to transition management of their business, while preserving their legacy. If your business is greater than $1M of annual cash flow and located in Southern California, please contact us. - Website: https://www.splitmountaincapital.com - Location: Newport Beach, California, United States - Lead qualification: Research: - Query: =Split Mountain Capital Cody Agee recent investments fund thesis - Answer: Split Mountain Capital is an investment firm based in Newport Beach, CA. Cody Agee is not directly associated with recent investments of Split Mountain Capital. For specific recent investments, visit their official website.