October 17, 2016

Mannington Mills Celebrates Centennial

Mannington Mills

Mannington Mills, Inc. is a world leader in the fine flooring industry. The company is a manufacturer of residential and commercial sheet vinyl, luxury vinyl, laminate, hardwood and porcelain tile floors, as well as commercial carpet and rubber. Founded in 1915 by John Boston Campbell, Mannington Mills is privately held by the Campbell Family. HWSC is proud to be working with the client as they are transitioning from the fourth to fifth generation of family ownership and celebrating  their centennial anniversary.

Mannington Mills and the Campbell Family have reached a milestone that very few family-owned businesses achieve. According to the Family Firm Institute, only one-third of family-owned businesses successfully transfer to the second generation, 12% survive to the third generation, and only 3% operate into the fourth generation and beyond.

Understanding the company’s challenges and opportunities, the Campbell Family has worked with HWSC to develop and implement its Family Assembly and Family Council, which help navigate the family through ownership governance, generational transition and development, as well as to implement family and business governance best practices for the future. The Campbell Family Assembly is led by the Family Council, a smaller subset of family members with representatives from different family branches and generations of the Campbell Family. The Campbell Family Council recognizes that patient capital, history, traditions and values (culture) are key components to future success and their goal is to prepare future generations of the Campbell Family to be responsible shareholders.

HWSC would like to congratulate the Campbell Family and Mannington Mills on 100 Years and wish them continued success. Learn more about Mannington’s history in the Mannington Centennial Video above and watch the Mannington team Taking Care of Business in an employee appreciation montage below.

 

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