Metallic Products announces ownership change
- September 22, 2020
- Posted by: Alan Hageman
- Category: News
Houston-based Metallic Products Corp. announced its president, Travis Wendt, purchased the metal building accessory manufacturing company from co-owners Daryl Wendt and Mike Hairston.
The change of hands is the third generation of family ownership for a company which has served the metal building industry for more than 60 years. It also marks the first time since the 1970s that the company has been owned by one person.
Metallic products were introduced in 1962 with Milano, Texas, native Roy Hairston. Launched as a trim shop for Mes-Tex Steel Buildings Inc., Baton Rouge, La., the company’s approach revolutionized the metal building accessory industry, and led to Metallic Products becoming a chartered corporation in 1967.
Mes-Tex secretary and accountant Betty Ferguson began working with Metallic Products. As time progressed, she took on customer service roles in addition to her accounting work, purchasing company shares until she reached 25 percent ownership.
In 1992, when Roy Hairston retired, he sold 75 percent of the company to his son, Mike Hairston. He then sold shares to Ferguson, making them 50/50 owners. Upon retirement, Ferguson sold her shares to son Daryl Wendt.
Travis Wendt said, “Metallic Products is on a great path, thanks in large part to the solid foundation my dad and Mike have put in place. We’ve seen steady growth, continued to introduce new and innovative products and made adjustments along the way. We’ve really got something special here.”
Travis Wendt said said little will change. Aside from some internal shifts among team members, day-to-day operations will remain business as usual. The company’s previous owners will remain involved, with Daryl Wendt maintaining his positions as board chairman and vice president of business development, and Mike Hairston remaining on as vice president of research and development.
Daryl Wendt said “Travis [Wendt] understands the ins and outs of Metallic Products and our industry, and he has a great leadership team alongside him. They’re going to continue to do great things.”
Hairston said, “My dad built this company from the ground up and blazed new trails along the way. It is gratifying to see how far we’ve come. Now, it’s time to pass the torch and watch this incredible company continue to flourish.”