Blythe Becomes 100% Employee Owned Company

April 10, 2024

Blythe Development became a 100% Employee-Owned Company on March 29, 2024. Assisted by Lazear Capital Partners, Blythe Brothers Holdings, Inc., parent of Blythe Development and Blythe Brothers Asphalt, was sold to Blythe Brother Holding, Inc. Employee Stock Ownership Plan. This transaction benefits more than 800 employees across North and South Carolina, making Blythe one of the largest ESOPs in the state of North Carolina.

The Blythe family, a pillar of the Charlotte region for more than a century, has entrusted the future success of the company to its dedicated employees. Jack and Frank Blythe, prominent in the Carolinas and southeastern construction industry, have significantly contributed to the region’s expansive growth in infrastructure. They have constructed countless roadways, bridges, aviation, sitework, and transit projects throughout the Carolinas and Virginia. We are confident that this move to an ESOP will only enhance the company’s ability to contribute to such growth.

Jack’s son Luke will continue to lead the companies as President, assisted by CFO Joey Dodson and VP of Operations Stoney Bumgardner. He is excited about what this transaction means for all the employees. “Our employees have been a major factor in the success of the companies over the years and now each one will benefit from their continued hard work and dedication as employee owners.”

“This transition aligns perfectly with the company’s principles, recognizing the hard work and commitment of its employees as the driving force of its success,” said Lazear Managing Director and Charlotte market leader, Josh Goldblatt.

Blythe remains a company where careers are built, knowledge expanded, and opportunities for advancement are plentiful. The Blythe family and senior management will continue to be involved, ensuring that the company’s values and principles remain intact. We invite you to learn more about Blythe, its work, culture, and the ‘Blythe Way’, which encompasses the company’s approach to business and serving the community.