Let’s Shake On It
by Danny Wade
One of Humboldt oldest businesses now has some new blood. Lashlee-Rich has a new partner, Ashley Culpepper.
Greer Lashlee, president of Lashlee-Rich, Inc. announced the formation of a new Humboldt company, Lashlee-Rich Building Materials, LLC. Assets from Lashlee-Rich, Inc. were transferred from the building materials division to the new company.
Culpepper purchased 50-percent of the new company with an option to purchase the remaining 50-percent after five years. Terms of the agreement were not announced.
“It’s good mutual timing,” Lashlee said last week. “In the past few years, the scope of our construction and construction management business has increased to the point that our current management team has found it increasingly difficult to provide the level of management required by our materials operation.”
With the new partnership, Culpepper has become the president of Lashlee-Rich Building Materials. Lashlee will serve as chairman of the board and Charles Randolph will be secretary and treasurer. Tim Garmany will be general manager and all current employees of Lashlee-Rich Building Materials will remain with the company.
The transaction will have no effect on Lashlee-Rich’s general construction and construction management operation. Lashlee will remain president and CEO of Lashlee-Rich, Inc.
“My dream job has been to operate a business in my hometown and provide a product and service to the people of this area,” Culpepper said of his new business venture. “The Lashlees are certainly not strangers to the construction or materials business and I feel fortunate to be able to be involved in this with them.”
Lashlee believes bringing Culpepper onboard as a full partner will be beneficial in growing the company. With the formation of the new company, customers will soon see an increase in the number of products in the store. Culpepper said the store will be revamped in the near future.
Over the years, the building materials side of Lashlee-Rich has ventured out to do construction projects—small, medium and large projects that did not fit with the general construction/construction manager side of the business that does mostly larger, commercial type building projects. This construction project service is one Culpepper hopes to expand on.
“Having grown up and lived here most of my life, I am excited about the growth that is on the horizon for Humboldt,” Culpepper noted. “I look forward to earning your business, whether it’s a new mailbox or a whole house. The solutions to your project, however big or small, are right here. Why drive out of town when you can get it here.”
Lashlee-Rich, Inc. in Humboldt was founded by Dr. T.O. “Doc” Lashlee and Jack W. Rich. In 1975 the Lashlee family acquired the Rich family interest in the business. Three generations of Lashlees (Doc, T.O. and Greer) have been at the helm for 78 years.
“We have observed the numerous contributions that Ashley Culpepper and his family have made to the chamber of commerce, the Strawberry Festival, their church and numerous other civic and social organizations in Humboldt,” Lashlee said of his new partner. “We could not have found a more energetic, conscientious and dedicated young man to be associated with. Under Culpepper’s leadership, the future is bright for Lashlee-Rich Building Materials, LLC.”