Ownership Change

Posted on May 9, 2005 by sysop in Press Releases | 0 Comments

James River Grounds Management, Inc. announced today that, as of May 3, 2005, the company’s ownership has changed. Raymond F. Lazarchic, president of James River Grounds Management and Mike Hildebrand, co-founder of the company have passed the ownership of the company over to James Batterson, director of facilities; Todd Pendleton, director of sales and marketing; Jason Knight, chief operating officer; and Maria Candler, chief executive officer.

James River Grounds Management has been in business since 1989 when it was founded by Lazarchic and Hildebrand. In a recent letter to customers, Lazarchic states, “This is a business decision made by Mike Hildebrand and myself to reward all the employees that have contributed to this company. This sale has been a well planned and thoughtfully executed strategy to continue with the positive growth and family culture of James River Grounds Management. I will remain involved in an advisory capacity and serve on the board of directors.”

Lazarchic continues, “As Mike and I pass the baton to the new leaders of our organization, we take great pride in the foundation that we have built. We are satisfied that the entrepreneurial spirit is continuing into the next generation.” By selling the business to the existing management team, Lazarchic and Hildebrand can rest assured that the strong customer service philosophy they have developed will remain unchanged and that employees and customers can expect the same firm they’ve grown to know.

James River Grounds Management, Inc. has offices located in Glen Allen, Portsmouth, Williamsburg and Charlottesville, Virginia. The company employs more than 60 full-time employees and more than 100 seasonal employees.

The new management team is poised to position the company over the next five years for strategic growth and provide employees with clear advancement opportunities. This will be achieved by expanding the company’s markets and enhancing the products the company delivers.

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