Majestic Kitchen & Bath Creations Inc. has been sold to its CEO and his team, according to an announcement Tuesday from the Youngsville-based firm, which has a facility in Wilmington.
The June 11 transaction, for which the financial details were not disclosed, completes a business transformation envisioned in 2017 by founders Danny Cox and Bruce Battle and its new CEO Scott Byers, a news release stated. That transformation aimed to evolve the 30-year-old company from a family-run entrepreneurial business into an independently managed corporation, the release said.
Majestic Kitchen & Bath Creations Inc. acquired
Wilmington-based Builder’s Glass & Hardware Inc. in 2018.
That and a Charlotte purchase the same year were "designed to help us provide a footprint for the Carolinas as a whole," Byers said.
He said the company's location in Wilmington on Kitty Hawk Road includes a 20,000-square-foot facility.
"Wilmington's a key component of our business and our strategy," Byers said. "The coastal market is growing, is developing, and our intent is to be the most professional trade partner in the Carolinas."
Byers and his leadership team have doubled Majestic’s revenue and geographic reach across the Carolinas and its coastline in the past three years, the release stated.
“Today’s announcement marks another proud milestone in Majestic’s impressive 30-year history,” Byers said of the purchase, in the release. “Going forward, we will invest in our people, training, technology, equipment, and processes so that our clients receive the value they expect from a professional trade partner and industry leader like Majestic.”
According to the release, Majestic’s leadership team is composed of Byers, Dan Wascher as CFO, Frank Muraca as COO and Josh Smyth as vice president of sales.
"To assure fiduciary oversight and independent decision-making, Majestic has created a board of directors composed of company executives and several independent outside investors," the release stated.
Continued overall positive performance in the housing construction sector and remodeling segments have contributed to Majestic’s ongoing growth, according to the release.
"Deemed essential by the state of North Carolina, Majestic’s operations have gone uninterrupted during COVID-19 and are being supported by its Ready Work Program that promotes employee safety in adherence to CDC-recommended guidance measures," the release stated.
Majestic has a total of 246 employees, a 30% increase since 2017, with about 30 employees in Wilmington.
"We're continuing to add talent and resources to Wilmington as well as the entire coast," Byers said.
According to the release, through seven facilities across the Carolinas, Majestic’s showrooms, production and distribution operations, and service centers serve the metropolitan North Carolina regions of the Triangle, Charlotte, Triad, Wilmington area, and Myrtle Beach, Charleston, and Greenville in South Carolina.