MADILL, Okla. -- A Marshall County company is changing hands. CM Trailer officials made a big announcement to their employees on Tuesday.
When Ronald and Kay Jackson started CM Trailers in 1990, it was with six employees in Madill. Now they are 450 strong, with the Jackson’s looking toward the future.
On Tuesday, the company told their employees that Big Tex Trailers, a Mount Pleasant, Texas, company is buying CM in a multimillion dollar deal.
The Jackson’s say current employees will keep their jobs. In fact they say Big Tex plans to expand the operations in Madill.
Big Tex is a $175 million company, and coupled with CM, which is worth about $50 million, the Jackson’s say they are leaving the company in good hands.
“It just adds more stability for years to come because now with Big Tex, the gentleman that owns Big Tex is just in his forties, so he's very growth-oriented and actually plans on growing this company from where it is now." CM owner Ronald Jackson said.
CM also owns S & H Trailers, and that company is included in the buyout. Jackson says the deal should be finalized by the end of the year, at which time he says he will retire to spend more time with his family.