Myers & Co, one of oldest construction firms in valley, sells
A company that’s been a constant factor in the ever-changing construction industry of the Roaring Fork Valley over the past four decades is going through a changing of the guard.
Myers & Co. Architectural Metals announced Wednesday it was sold June 30. Buyer Mark Blodgett is the new principal. The selling partners will remain in consulting roles with the company, some at a higher degree than others, according to the company’s statement. The original partners are founder Bob Myers, Mary Delany, Stuart Edgerly and Gib Plimpton.
Terms of the sale of the private company weren’t released. Myers said it was “a good deal for both parties.” He and his partners have financial incentive to see the company continue to succeed, he said.
The firm was launched in 1975 as Robert Myers Ironworks and was initially located in the Aspen Business Center. Myers entered the business after working with legendary blacksmith and iron works master Francis Whitaker from 1970-75. He started as a one-man operation with $600 and a welding machine, he said.
The other partners joined Myer’s firm between 1976 and 1980. The company expanded into a space south of Highway 82 in Basalt in 1986, prior to construction of the Basalt Bypass.
It evolved into the largest company of its type between Grand Junction and Denver.
The company is unusual because of its diversity. It provides structural metals for large construction projects across the Western Slope and beyond the region. It also creates ornamental metals at the same shop.
The company has provided structural metals for signature buildings such as the Benedict Music Tent and the Hotel Jerome as well as numerous schools, other institutional structures and elaborate residences.
The ornamental side features everything from lighting fixtures to coveted ski racks to massive outdoor sculptures. One of the more unusual jobs for the company involved measuring the door of a client’s Learjet to make sure a custom table it was making would fit so she could get it back to Miami for a party.
The company will continue its diverse approach. “Ongoing operations will not be impacted by the sale,” the company announced. Blodgett said he intends to keep all of the team members in place, including the highly experienced group of managers and craftsmen. The company currently has about 70 employees.
“One of the things we strongly considered in terms of our motivation to sell, aside from our age and our wish to retire, was the desire for this business to continue for the benefit of our employees,” Myers said. “We wanted to make sure we left a vehicle for our employees to use their unique skills, thrive and continue their careers.”
Blodgett is a New England native with experience on Wall Street and in running numerous manufacturing operations in the U.S. and abroad. His experience includes businesses that make lasers, optical products, LEDs and plastic processing equipment.
Myers said he and his partners were seeking a good exit strategy that would benefit the employees as well as the clients. They were looking for “some time” for a suitable buyer, he said. Blodgett and Myers were introduced earlier this year by a mutual friend.
“I quickly learned that the most impressive value in this company is both its people and reputation,” Blodgett said. “While other firms may fabricate structural steel, nobody fabricates both ornamental and structural steel in a single location. I was particularly impressed by the many challenging jobs Myers has undertaken over the years.”
The four original partners have a total of 154 years of experience with the company. Plimpton’s specialty is the structural metals. Edgerly oversees the ornamental side of the business. Delaney is director of administration and finance.
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