Perseverance and Retooling Preserve Father’s Legacy in Family-Owned Manufacturing Business

In 1962 family patriarch Richard Peabody, a WWII Veteran, started manufacturing and distributing equipment for the agricultural industry to improve crop yields. While prospering and growing over the years, his two sons Mark and Larry would work at the company during their summers by building valves, pumps, tanks and trailers which delivered the equipment to the farm fields. This early exposure allowed the sons to learn much of what was to know about the business their father built.  Eventually their father Richard decided he would retire from the company at which time the sons Mark and Larry purchased the company. Challenges ensued when a federal legislative policy greatly impacted the farming community and their business. Mark and Larry vowed to preserve their father’s legacy with a strategy to reinvent the company.

The company sold their line of agricultural equipment and focused on the distribution of plastic pipe, valves, fittings and tanks and thereby set the company on a new and profitable course.  But then followed more financial turmoil in the 1990’s  with bad debt write-offs from bankrupt customers and embezzelment.  They decided to scrape together everything they had and  retool for a new concept in dual-walled plastic chemical storage tanks. This strategy paid off as they went on to expand to 50 different products which are distributed across the United States, Canada, Mexico and Australia turning the company into a booming business. With the assistance of multiple SBA loans the Peabody brothers expanded and branched into additional product lines and distribution areas. They further diversified the business by adding another division, Peabody Concealment where they manufacture fiberglass composite modular telecommunications cell site facades. These facades match the architecture of unique buildings and hide the cellular antennas from public view to preserve the beauty of each building they are installed on.

Through decades of hard work, sacrifice and business smarts, Mark and Larry Peabody rode the perilous ups and downs of their business and turned it into an ongoing and profitable enterprise with two distinct divisions and industries. The business now takes up a 32,000 sq. ft. manufacturing facility with 43 employees and to their credit many of these employees have been with the company for more than 20 years. Operating truly in the spirit of a family owned business, Mark’s wife runs the HR department caring for the employees and clients. By identifying unmet needs in their industry and creating unique solutions, the firm continues to grow with global expansion.

Learn more about SBA Loan Programs at www.sba.gov/funding-programs/loans

Company Name: 
Peabody Engineering & Supply, Inc.
Location: 
Corona, CA