Duff brothers buy T.L. Wallace; make ‘significant equity infusion’
by MBJ Staff
Published: July 26,2012
COLUMBIA — Entrepreneurs Jim and Tom Duff have acquired T. L. Wallace Construction Inc. for an undisclosed amount.
The Duff brothers own several other businesses including Southern Tire Mart, LLC, KLLM Transport Services, LLC, Forest Products Transports, LLC, Pine Belt Ford, LLC, as well as others with combined revenues exceeding $1.3 billion.
As part of the acquisition of T. L. Wallace Construction, a “significant equity infusion” was made into the company by the Duffs.
Thomas L. Wallace, who organized the company in 1974 and has been a leader in the construction industry for the past quarter century, has agreed to remain as chairman of the board and a consultant to the company.
Wallace Construction constructs buildings, bridges, highways and public works projects throughout Mississippi as well as Louisiana, Texas, Arkansas, Tennessee, Alabama and Florida.
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