Knoxville-based Mollenhour Gross acquires Kellyco Metal Detectors
WINTER SPRINGS, Fla., Nov. 12, 2018 /PRNewswire-PRWeb/ -- Kellyco Metal Detectors, the premier metal detecting retailer, is excited to announce the next chapter in its history. The Auerbach family is entrusting the legacy of the esteemed Kellyco brand to family friends and investors Jordan Mollenhour and Dustin Gross of the Knoxville-based investment firm, Mollenhour Gross.
Given their long-time horizons and generational mindset, the Auerbach family believes this new home will help ensure the rich legacy of Kellyco will endure for generations to come.
"We believe this group uniquely understands the nuances of our business and can carry on Stu's legacy. We are proud to pass the mantle to these fine men," said Carolyn Auerbach.
Mollenhour Gross has already invested significant resources in Kellyco with the goal of improving operations, ensuring product availability, and delivering a world-class customer experience for decades to come.
"As we met with David and the Auerbach family, our entire leadership team became very excited by the energy, passion, and commitment within the metal detecting community," said Jordan Mollenhour. "Our focus is investing in companies for the long haul by taking care of our customers, first and foremost."
Jeremy Floyd was tapped by Mollenhour Gross to lead the company through the transition as interim president.
"We have one job: restoring a world-class experience for Kellyco customers," Floyd said. "We're doing this by putting our customers at the center of our strategy, cultivating the team to best support our customers, and having the products that our customers want when they want them."
Along with a number of long-time employees, David Auerbach, the son of Kellyco founder, Stu Auerbach, will remain actively engaged as an advisor to Floyd.
"It's been a pleasure working with Jordan and Jeremy, and I'm committed to the long-term success of Kellyco," said David Auerbach. "I'm not getting off the bus, just getting out of the driver's seat."
Kellyco was founded nearly 60 years ago by Stu Auerbach, one of the best-known personalities in the metal detecting community. In fact, the Orlando Sentinel once called Stu "The Bill Gates of Metal Detecting."
"Stu was a force of nature who drove Kellyco to incredible success over the years. His visionary leadership led Kellyco into selling the best products and taking care of our customers via the internet years before any of our competitors" said David.
In a statement, the family said, "The Auerbach family would like to personally extend our gratitude to all our loyal customers throughout the years. We truly value your unwavering support and dedication shown to our business. It was important for us to partner with a company that would uphold our core values and strengthen the customer experience that Stu embodied from day one. We are proud to know that the legacy of Stuart Auerbach and what he created will be experienced for many generations to come."
Sincerely and Gratefully,
Carolyn Auerbach, David Auerbach, Dione & John Fetner
About Kellyco Metal Detectors
Established in 1955, Kellyco Metal Detectors has grown from founder Stu Auerbach selling metal detectors out of the back of his car to a full catalog, retail, and ecommerce business. Kellyco has been the recipient of multiple awards for customer service and is one of the world's largest supplier of direct-to-customer metal detectors.
About Mollenhour Gross
Established in 2004 by Jordan Mollenhour and Dustin Gross, Mollenhour Gross is a private holding company based in Knoxville, TN. Its portfolio companies are engaged in a variety of industries, including online retail, hospitality services, warehousing, e-commerce fulfillment, packaging manufacturing, real estate, software, and more.
SOURCE Kellyco Metal Detectors
