UPDATED: Kegel LLC has announced that there has been a change in company ownership.
Linda Davis, co-founder and wife of company founder, John Davis, has redeemed her share of ownership in the company, leaving the Mitchell family as the sole shareholders of Kegel. Members of the Mitchell family have held a minority interest in the business since 2003.
In a media release, Linda Davis expressed her thanks to everyone at Kegel, and offered best wishes for their continued success. She said she believes that transitioning her ownership to the minority partner provided the smallest degree of disruption for business operations and the staff.
Jonathan Mitchell, managing member of Kegel LLC, said he is looking forward to continuing his work with Kegel.
“I initially invested in Kegel because it had a unique strategy, a strong team of employees, and was led by a man unlike any I have ever known,” he said. “Kegel still possesses this ‘magic,’ and I intend to allow staff the freedom to continue their success, just as they did under the leadership of John Davis.”
Mitchell has named Chris Chartrand, formerly Kegel LLC’s President, as its new Chief Executive Officer. Chartrand joined Kegel in 1999, and was instrumental in creating the Sales and Marketing Division. During his recent years as President, Chartrand also served as Billiard and Bowling Institute of America President, and has continued his professional education at the University of Florida. He is scheduled to receive his MBA this April.
With the retention of the tenured management team — including Larry Klemme (CFO), Dennis Sheirs (V.P. of Chemicals) and Mark Davis (V.P. of R&D) — the Board of Managers anticipates very few changes with respect to the bowling business, which is the foundation of the company.
“Our management team has spent many years working with Jonathan Mitchell,” Chartrand said. “We can attest to his business acumen and keen understanding of Kegel’s values. During our time together, I can see that Jonathan shares the same values on which the company was built, and I’m confident Kegel will continue to build on its proud history going forward.”
Kegel produces an array of lane maintenance products at its Lake Wales, Fla., headquarters, and also operates the on-site Kegel Training Center.