Third Generation Of Jacksons Purchase Portion Of Ownership Of Construction Business
Third Generation Of Jacksons Purchase Portion Of Ownership Of Construction Business
Posted
David Slone-dslone@timesuniononline.com
Third Generation Of Jacksons Purchase Portion Of Ownership Of Construction BusinessSome families pass down heirlooms like jewelry, furniture, recipes or scrapbooks.
For the Jacksons, it’s a construction business.
Recently, T.L. Jackson announced a third generation of Jacksons - Luke, Sam and Ben Jackson - officially purchased a portion of ownership in the company.
T.L. Jackson is a home builder and commercial contractor serving northern Indiana and now southern Michigan with an office in Edwardsburg, Mich., in addition to the home office in Syracuse, according to information provided by the company. T.L. Jackson builds a variety of homes and commercial properties while specializing in building and remodeling luxury lake homes.
Tom Jackson, now 86, started doing construction in 1972, according to his oldest son and business co-owner Brad Jackson. Tom and his wife, Pati, started T.L. Jackson in 1981.
Brad, being the older brother, started working for his father in 1981, before his brother, Bruce, joined about six or seven years later.
“I started actually before that when I was 11 - picking up trash and learning,” Brad recalled. “We kind of had an unusual argument that dads don’t have with their sons. It was, I wanted to work five days a week in the summers when I was 11 and he told me I had to enjoy life a little bit, so we settled on four days a week.”
Around 2005, Brad and Bruce bought their parents so Tom and Pati could retire. Brad and Bruce became 50-50 partners at that time.
Bruce has two sons now involved in T.L. Jackson, Ben, 30, and Luke, 27. Brad’s son Sam, 27, also is involved. Ben and Luke are project managers, while Sam is the project estimator.
“All of them worked a little bit for other people because that’s something we wanted them to do, is to not just start with the company but to have a little bit of experience outside of the company and bring what they learned back,” Brad said.
He said all three expressed an interest in ultimately having ownership in the company. Since all three are now in really key leadership roles in T.L. Jackson and are involved in decision-making, Brad said he and Bruce agreed that the time was right to start selling their boys a portion of the company.
“They’re each buying in a percentage over a period of time,” Brad said.
The paperwork was signed Jan. 3. Attorney Steve Snyder, of Snyder Morgan Federoff & Kuchmay LLP, has worked with T.L. Jackson for over 40 years and assisted with the transaction.
Having a third generation involved in the business is a big deal to Brad.
“It obviously means a lot to see because my dad and mom worked really hard in starting the business and a lot of sacrifice when you’re first starting out. It’s not easy. And I know for him - my mom’s passed away, but I know she would be proud - but my dad’s really proud. Any time he talks about the third generation coming in the company he worked so hard to get off the ground, he is always amazed how much it has grown,” Brad stated.
T.L. Jackson is in several surrounding counties and in Michigan, he said. T.L. Jackson acquired Higher Homes LLC in Edwardsburg. Brad said the company has grown to a company in excess of $10 million in annual sales.
“I’m really pleased with how all three boys are jumping in and just the teamwork I see between them. The ideas that they come up with and the commitment and dedication to the company. I feel really confident that they will all carry it out to the fourth generation,” Brad said.
