MTI Completes Employee Buyout

by WOHe

MTI Completes Employee
Buyout

Sugar Hill, GA MTI Whirlpools has announced a change in
ownership from that of a family-owned business, known as Mr. Tubs,
Inc., to that of a newly formed, employee-owned company.

The new company, MTI Whirlpools, has retained Mr. Tubs’ founders
and former owners, J.C. Henry and Vicki Henry-Higgins, as
consultants, said MTI president Kathy Adams. About 20% of the
firm’s employees including most of the sales, marketing and
administrative staff purchased stock in the new company, Adams
said.

Terms of the transaction were not announced.

MTI Whirlpools, based near Atlanta, was founded in 1988 and
specializes in the customization of whirlpool and soaker tub
products. The company’s products are available through kitchen and
bath dealers and plumbing wholesalers.

“We have always had a lot of pride in the work we do, and in
this company,” said Adams. “Now, our excitement is intensified. Mr.
Henry built the business with a lot of hard work and strong resolve
to take risks. We will continue on with his philosophy.”

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