Fishman Flooring Solutions (Baltimore, Md.) on Thursday announced it has purchased all shares of its company stock, giving its employees 100 percent ownership of the distributorship. Terms of the transaction were not disclosed.
The outstanding shares were purchased from Nelson Fishman and Ray Colombo, who led the company for a combined 90 years. The duo first sold shares of the company's stock to employees in 2003.
The management structure of the company is not affected by the shares purchase. President Bob Wagner and the other members of the company's management team will continue in their current roles.
Fishman Flooring Solutions distributes more than 36,000 products in Delaware, Georgia, Maryland, New Jersey, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Virginia, West Virginia, and Washington, D.C.
