Thursday, April 21, 2011
Wednesday, April 13, 2011
Thomas & Thomas Under New Ownership
Greenfield, MA - April , 2011. Chief Executive Officer of Thomas & Thomas Rodmakers Inc., Gerry Metcalfe, announced the sale of all company assets.
The Thomas & Thomas brand, machinery, inventory and all other assets were sold to Islamorada, FL based fly fisherman Mark Richens. Concurrent to the asset purchase, Richens also agreed a deal to buy the Thomas & Thomas rod making facility in Greenfield, MA from Lon Deckard of Osprey, FL. The financial details of both transactions were undisclosed.
Metcalfe explained. "The Thomas & Thomas brand is under new ownership. This brings to a conclusion the events of recent years that have troubled Thomas & Thomas Rodmakers. Despite my best efforts, issues arising from the withdrawal of bank funding following the financial crisis of 2007 and 2008 have proven insurmountable. The team at T&T produced fly rods of the highest quality throughout difficult circumstances and I wish to take this opportunity to thank them for their hard work and professionalism.
It is my understanding that Mark will continue making bamboo, glass and graphite rods in Massachusetts under the Thomas & Thomas brand and will seek to recruit key personnel locally. Mark also advised me that he intends to honor warranty repairs on existing T&T rods. He will be issuing his own press release to this effect once he has had chance to discuss his plans with the many industry figures that have supported Thomas and Thomas so loyally over the years.
After putting so much into the company I am delighted to see Thomas & Thomas in the hands of someone with a full appreciation for its rich, forty-year heritage. I know Lon Deckard feels the same way.
Mark Richens is a fanatical fly fisherman, a long time user of T&T rods and a regular on the saltwater flats and trout and salmon streams of North America and beyond. At 39, he has the drive and acumen to re-energize this prestigious brand. He is unwavering in his belief that there remains a place for high quality fly rods, built entirely in the USA by craftsmen. I wish him and all involved with his new company well for the future."