Editor’s Note: Truckers News, formerly published by Randall Publishing Company, is now published by Randall-Reilly Publishing Company. Publisher Robert Lake has given his column over to company President and CEO Mike Reilly this month.
I am pleased to announce that the H. Pettus Randall III family and estate have sold their interests to Randall-Reilly Publishing, LLC, a new entity formed by me, members of the existing Randall Publishing management team and Wachovia Capital Partners of Charlotte, N.C. This is an exciting new chapter in the company’s history, and this partnership gives us the opportunity to enhance our profitability and growth, while providing you with expanded sources of information.
Randall Publishing Co. was founded in 1934 by H. Pettus Randall Jr. His son and my close friend H. Pettus Randall III led the company until his death in 2002 when his wife, Dr. Cathy Randall, assumed the chairmanship of the company and I continued as CEO.
The partnership with Wachovia Capital Partners came from the desire to take the newly formed company to the next level. Our goal was to partner with a company that understands our culture, plans to keep the company in Tuscaloosa, Ala., and allows us to expand on our traditions of innovation and entrepreneurship. Wachovia Capital Partners has invested in more than 200 businesses since 1988 – many of them in publishing – and we are excited to team with them as we plot our future course.
This is both an honor and a deeply emotional crossroads for me. I began working at Randall Publishing in 1975 when I was a senior at the University of Alabama. I only had four months left of tuition on my GI Bill, and money was running out. I walked into the offices of Randall Publishing and began at the bottom rung. Pettus Randall III became my good friend and was like a brother to me. Thirty years later, one of the greatest honors of my life is to have my name next to his on the outside of the building that houses the company where I began my career.
After Pettus died, we had a motto around the company: “What would Pettus do?”
Not a single day goes by that we don’t still ask that question in our quest to solve a problem or seize an opportunity. I believe that if asked about this partnership, he would give his blessing. It’s the right thing for his family and for our company.
The future is bright as we continue to build a world-class publishing company. Thank you for all of your support over the years, and we look forward to continuing to provide you with the quality products you have come to expect.
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