Vermont Business Magazine Proctor-based Carris Reels has announced the purchase of the Texas firm Lone Star Reel from Mike Pawlish and Larry Beal. Lone Star Reel is a manufacturer of plywood reels and nailed wood reels, serving wire and cable customers throughout the Southern United States for approximately 20 years. Pawlish and Beal started the company in McKinney, Texas, in 1997, and expanded to Bonham, Texas, five years later. Today nailed wood reels are produced in the Bonham plant and plywood reels from McKinney. The two former owners will remain actively engaged in the company.
Mike Pawlish, Dave Ferraro and Larry Beal. Courtesy photo.
David Ferraro, CEO at Carris said, “We enthusiastically welcome Lone Star Reel to our community of companies. This acquisition provides a similar product portfolio in a new geography for Carris. In addition, Lone Star Reel’s 150 experienced employees and production capabilities provide Carris and Lone Star Reel a platform for continued growth of our broad line of quality packaging solutions for wire and cable. Carris will retain the Lone Star Reel name for the unparalleled customer service they have become known for. This announcement demonstrates our philosophy for making long-term strategic investments in areas where we can add value for our customers and stakeholders”.
Carris reported 2015 revenues of $105 million, up more than 25 percent over five years, according to VBM, and employs 185 in Vermont and 520 system wide before this Lone Star transaction.
Carris Reels is 100 percent employee-owned, headquartered in Proctor, Vermont and manufactures plywood, nailed wood, wood/metal, plastic and stamped metal reels and spools. Carris operates in seventeen locations in Canada, Mexico and the United States.
Source: September 16, 2016 – Proctor, Vermont. Carris Reels