Carter Mackey, left, and Stephen Jenkins last year in Tekton’s Southside office. Mackey is taking the helm of the company with Jenkins’ departure.
The management team behind a local commercial construction firm has decided to part ways.
Carter Mackey and Stephen Jenkins have ended their relationship as the duo behind Tekton Builders. The 18-month-old company will continue with Mackey at the helm and without Jenkins’ involvement.
Mackey, formerly with DPR Construction, formed Tekton in 2015 with Jenkins, who served as CEO and owned a 51 percent majority stake in the company. Mackey, serving as president, owned 49 percent.
The ownership structure was designed to establish Tekton as a minority-owned business, with the goal of being eligible for state- and federally funded projects, such as those under the state’s SWaM certification program for small, women-owned and minority-owned businesses.
With Jenkins’ departure goes that minority-owned designation.
Mackey said in an email that he and Jenkins in October “reached an amicable agreement to dissolve their partnership for Tekton Builders,” adding that Jenkins “is pursuing other business ventures.” Mackey said he will assume full ownership of the company and declined further comment.
Jenkins confirmed Mackey’s statement, describing the move as “a mutual decision to pursue other endeavors.”
Jenkins, a New York transplant whose management background did not include commercial construction when he started Tekton with Mackey, notified BizSense last fall the pair had decided to part ways and that Tekton “was being dissolved.”
That came as news to Mackey, who expressed surprise when asked about Jenkins’ comments. Mackey said at the time that he needed to discuss the issue with Jenkins before commenting.
Jenkins had said he wanted everyone in the construction business to know his involvement in Tekton “had been terminated,” in light of a BizSense article from last year.
“Unfortunately, we’ve come to an impasse in the road where it’s necessary for us to part,” Jenkins said in late September.
Since forming in mid-2015, Tekton has worked on two projects with local developer Fulton Hill Properties: an interior buildout at 11 S. 21st St. in Shockoe Bottom, and a 12-apartment addition to the Glavé & Holmes Architecture building at 21st and Main streets, also in the Bottom. The latter project was an expansion of Fulton Hill’s adjacent Haxall View apartments.
Last year, the firm moved into a new office space on Forest Hill Avenue. At the time, Mackey and Jenkins discussed plans to establish a commercial construction trade school called Builder Academy of Richmond. Jenkins had been serving as chairman of the school’s board, which included Mackey as vice chair and a group of local businessmen.
Mackey did not say whether Jenkins’ departure would affect plans for the school, which was slated to start during the current school year. Tekton remained listed as a partner on the school’s website last week.
Carter Mackey, left, and Stephen Jenkins last year in Tekton’s Southside office. Mackey is taking the helm of the company with Jenkins’ departure.
The management team behind a local commercial construction firm has decided to part ways.
Carter Mackey and Stephen Jenkins have ended their relationship as the duo behind Tekton Builders. The 18-month-old company will continue with Mackey at the helm and without Jenkins’ involvement.
Mackey, formerly with DPR Construction, formed Tekton in 2015 with Jenkins, who served as CEO and owned a 51 percent majority stake in the company. Mackey, serving as president, owned 49 percent.
The ownership structure was designed to establish Tekton as a minority-owned business, with the goal of being eligible for state- and federally funded projects, such as those under the state’s SWaM certification program for small, women-owned and minority-owned businesses.
With Jenkins’ departure goes that minority-owned designation.
Mackey said in an email that he and Jenkins in October “reached an amicable agreement to dissolve their partnership for Tekton Builders,” adding that Jenkins “is pursuing other business ventures.” Mackey said he will assume full ownership of the company and declined further comment.
Jenkins confirmed Mackey’s statement, describing the move as “a mutual decision to pursue other endeavors.”
Jenkins, a New York transplant whose management background did not include commercial construction when he started Tekton with Mackey, notified BizSense last fall the pair had decided to part ways and that Tekton “was being dissolved.”
That came as news to Mackey, who expressed surprise when asked about Jenkins’ comments. Mackey said at the time that he needed to discuss the issue with Jenkins before commenting.
Jenkins had said he wanted everyone in the construction business to know his involvement in Tekton “had been terminated,” in light of a BizSense article from last year.
“Unfortunately, we’ve come to an impasse in the road where it’s necessary for us to part,” Jenkins said in late September.
Since forming in mid-2015, Tekton has worked on two projects with local developer Fulton Hill Properties: an interior buildout at 11 S. 21st St. in Shockoe Bottom, and a 12-apartment addition to the Glavé & Holmes Architecture building at 21st and Main streets, also in the Bottom. The latter project was an expansion of Fulton Hill’s adjacent Haxall View apartments.
Last year, the firm moved into a new office space on Forest Hill Avenue. At the time, Mackey and Jenkins discussed plans to establish a commercial construction trade school called Builder Academy of Richmond. Jenkins had been serving as chairman of the school’s board, which included Mackey as vice chair and a group of local businessmen.
Mackey did not say whether Jenkins’ departure would affect plans for the school, which was slated to start during the current school year. Tekton remained listed as a partner on the school’s website last week.