The senior management team of Expanko Cork Co. said it has completed their buyout of the 62 year-old cork products and flooring manufacturer. The team purchased the remaining shares in the company from former owner and president David McKee and his family.
Randy Gillespie, who oversees Expanko’s sales and marketing, said the buyout was a needed to keep the company growing. “With an aggressive business and marketing plan in place, the management team needed total fiscal control,” he told NFT. “Growth will be accomplished through product introductions, improvement in product representation at the architectural/design level and increased inventory levels.”
Along with Gillespie, the management team includes Paul DeJuliis, CEO; and Chuck Wilson, CFO.