Chattanooga-based investment company buys Majestic Stone Inc.

Chattanooga-based investment company buys Majestic Stone Inc.

November 24th, 2016 by Dave Flessner in Business Around the Region

Cut stone from the Majestic Stone Co. is seen used in construction of the Tennessee Aquarium Conservation Institute on the Baylor School Campus near the Tennessee River on Tuesday, Nov. 22, 2016, in Chattanooga, Tenn.

Photo by Doug Strickland /Times Free Press.

Majestic Stone Co. partner and CEO Patrick Wells outside the Tennessee Aquarium Conservation Institute on the Baylor School Campus near the Tennessee River on Tuesday, Nov. 22, 2016, in Chattanooga, Tenn.

Majestic Stone Co. partner and CEO Patrick Wells...

Photo by Doug Strickland /Times Free Press.

Company at a glance

- Name: Majestic Stone Inc.

- Products: Tennessee mountain and fieldstone, including boulders, river rounds, regular and dry stack fieldstone

- Location: Dayton Mountain

- Founder: David Zollinger

- Started: 1995

- New owner: Alderman Holdings

- CEO: Patrick Wells

- Staff: 23 employees, rising to 60-70 in the spring

- Website: www.chattanoogastonecenter.com

In its second business acquisition of the past month, the Chattanooga-based investment company Alderman Holdings has bought Majestic Stone Inc. in Dayton, Tenn., with plans to build the luxury brand and sales network for the Tennessee mountain and fieldstone the company mines, cuts and installs.

David Zollinger started Majestic Stone in 1995 with a rock quarry on Dayton Mountain and sells its luxury stone through its Chattanooga Stone Center and Creative Stone Works. Alderman Holdings combined the business assets, launched a new operating company under the name Majestic Stone, and appointed Alderman partner Patrick Wells as the new CEO.

"We want to bring dependability and service to the stone industry and hopefully make Majestic Stone a name that quality builders will know and turn to in our region and wholesale supplies will want to buy from across the country," Wells said. "I look forward to working with the team at Majestic Stone to develop a brand that is not only known for its stone, but that raises the bar for customer service as well."

The Dayton business is an end-to-end operation focused on sustainable sourcing, custom cutting and installing Tennessee stone for landscaping, outdoor living and custom residential and commercial building projects.

The company recently installed the stone facade, sidewalk and landscaping for the Tennessee Aquarium Conservation Institute on the Baylor School campus and its cut stone has been used in a variety of mountain homes and patios in 27 states across the country.

Alderman Holdings, an investment firm started last year in Chattanooga to buy or partner with area manufacturing and other traditional businesses, purchased Majestic Stone as part of its strategy to buy and build up existing businesses in transition.

Alderman also took a major equity stake last month in Southeastern Tool & Design, a growing machinery and automation supplier on Chattanooga's Southside.

"It took some time to find the right businesses that lined up with our approach, but we suddenly have had two great companies to invest in and help grow for the long term," said Andrew Kean, a partner in Alderman Holdings.

With its purchase of Majestic Stone, Alderman brings new capital and leadership to Majestic Stone. But the rock excavated from the 15-acre quarry the company owns on Dayton Mountain, plus other leased properties on Dayton Mountain, will remain of the same quality that has helped sustain the business over the past 21 years.

"The stone and the projects they've been a part of speak for themselves," Wells said. "But it's delivering on our promise of becoming a dependable stone supplier that will make this opportunity a success."

Wells said the company has the property and equipment to gather as much quality stone as the market demands. Majestic Stone offers installation within about 100 miles of its Dayton facility and will sell and cut stone for other buyers and wholesale distributors across the country.

John Clark, a new board member for Majestic Stone, said the business will continue to source and cut "the highest quality natural stone in the Southeast."

Clark said Wells, a former Alabama cross-country runner who previously ran a salvage business before joining Alderman Holdings last year, "brings great leadership to the sales, production and management teams."

Contact Dave Flessner at dflessner@timesfreepress.com or at 757-6340

 


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