1985 FIN – 49-Year-Old Co-Founder Tyson Retiring From House of Threads
May 25, 1985 FIN – House of Threads announced the retirement of president and co-founder Paul Tyson.
Tyson, 49, is leaving House of Threads after 22 years service. He has sold his House of Threads stock to fellow co-founder, Fletcher Yeilding.
House of Threads is one of the four largest full line fastener distributors in the country.
Tyson tells FIN the company is continuing with its plans to open its eighth warehouse distribution center in Atlanta, Georgia.
Tyson says he plans to spend more time with his family and community and will pursue other business interests.
The House of Threads story begins in 1958 when Yeilding, who had recently graduated from Auburn University, and Dave Upton, started Southeastern Bolt & Screw Co. in Birmingham, Alabama.
In 1960 Yeilding hired Tyson.
Typical of distribution management, Tyson learned the business by working in the warehouse and later in outside sales. After gaining sales experience at Southeastern, Tyson accepted a position as salesman for Southern Screw Co. in the southeast.
A significant change occurred in fastener distribution in the South when Yeilding left the Southeastern organization and joined with Tyson to begin what is now House of Threads.
They began the operation in 1963 by purchasing what at the time was a small three-employee firm known as Tampa Bolt & Screw Co.
House of Threads now employs some175 people, including 30 inside and 30 outside salespeople; and has nine domestic locations, including seven warehouse distribution centers throughout the South.
Precise sales figures are not available, but the estimates are in the $30 million to $40 million range.
Some of the people who will help run the company are area vice presidents Nick Deal, Ed Gannon and Bill Thaxton.
The company is headquartered at 1913 Flagler Street, Tampa, FL 33605. ©1985/2011 Fastener Industry News.
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