Paving equipment company, Power Curbers, and its subsidiaries has been sold to Steve and Lee Cornwell of Cornwell Capital, in Charlotte, N.C., the Salisbury Post reported.
Power Curbers will still operate from its Salisbury, N.C., headquarters, and President Dyke Messinger said he will remain president for another two to three years until he turns 70.
Messinger stated his approval that Power Curbers will be in the hands of a family committed to sticking with the business long-term, saying he "wanted to see the same kind of success we'd had for 64 years," the Salisbury post reported.
In an interview with the Salisbury Post, Lee Cornwell, said he started Cornwell Capital with his father, Steve in 2015.
Of the acquisition, Cornwell said, "We want to continue to grow the business. We invest indefinitely. We don't look for companies we have to reinvent…We love how community-minded the company is and how invested they are, and that's something we want to see continue."
Cornwell also praised Power Curbers' management, saying, "We feel very comfortable with them."
Cornwell Capital also owns an industrial fabrics company, Burlan Manufacturing, the Salisbury Post reported.
For more information about Power Curbers, visit www.powercurbers.com.
