In 2023, 87% of companies in the U.S. were family-owned; across the labor market, they employ more than half of the population. So on this new episode of In Good Companies, we find out what it takes to grow your business as a family and pass down craftsmanship from generation to generation. Who better to answer these questions than Cornell, Roman and Ryan Malone?

The Malones are a family united by their love for business. Together, Cornell and his two sons run EC Malone Corporation, also known as Malone Roofing; a company providing full roofing services, maintenance work and wall paneling across the South.

In today’s episode, we find out how a one-man operation became a multi-state business making millions in revenue. We look back on Cornell’s early beginnings in Hattiesburg, Mississippi, and learn how he passed on his vocation for roofing to Roman and Ryan. We also discuss the challenges brought by fast expansion: from process-building to technology adaptation and company culture.

Tune in with the Malones to dive into a family’s story of success and succession.

Highlights:

• Roofing: a Malone family tradition (2:50)
• The early days of EC Malone Corporation (4:49)
• Ryan’s first steps into the family business (07:01)
• When and how Roman got on board (8:21)
• New ideas from a new generation (9:50)
• From the tar to the sales side (11:20)
• Technology and innovation at EC Malone today (12:32)
• When change strikes fast: hurricanes Ivan and Katrina (14:00)
• The importance of growing your processes (15:25)
• How to expand your business culture (17:24)
• Enhancing client communication (19:32)
• Making roofing aspirational (21:49)
• The future of Malone Roofing (23:59)
• Growth happens at every stage (27:20)

Links:

• Cadence Bank Website
• Cadence Bank X (Twitter)
• Cadence Bank LinkedIn
• EC Malone Corporation’s Website
• Cornell Malone’s LinkedIn
• Roman Malone’s LinkedIn
• Ryan Malone’s LinkedIn
• PwC’s 2023 US Family Business Survey

Feedback:

If you have questions about the show or topics you'd like discussed in future episodes, email our producers, [email protected], [email protected], or [email protected].

Read the full show transcript.

Meet the Host

Patrick Pacheco, Executive Vice President, President of Cadence Asset Management & Trust, has more than 25 years’ experience in wealth management, in addition to the designing and implementation of tax and related planning strategies.

Pacheco’s background includes years of legal practice and multiple degrees, including an LLM* Taxation from University of Houston, a JD from Southern Methodist University, and both an MBA and BS in Economics from University of Texas at Arlington.

He is also board certified in Estate Planning and Probate law by the Texas Board of Legal Specialization.

Meet the Speakers

Roman, Cornell and Ryan Malone (pictured left to right) run the EC Malone Corporation. For over five decades, Malone has been a beacon of quality and reliability in the construction industry. What began as a modest roofing venture in Hattiesburg, MS, in 1973 has blossomed into a multi-generational enterprise spanning four states across the southern United States, with a workforce of approximately 200 dedicated individuals.

At Malone, we pride ourselves on offering a comprehensive suite of services tailored to both residential and commercial roofing needs. What sets us apart is our commitment to excellence in niche areas, such as adeptly managing both large and small insurance claims, expertly self-performing garden roofs and plaza decks, and skillfully fabricating and installing intricate metal wall panel assemblies.

However, it's not just our specialized services that distinguish us; it's also our unwavering dedication to service and maintenance. At Malone, we understand that our relationship with our clients extends far beyond project completion. We strive to ensure that every aspect of our work reflects our core values of integrity, professionalism, and customer satisfaction.

With Malone, you're not just getting a roofing company; you're gaining a trusted partner in building and maintaining the structures that matter most to you. Join us as we continue to redefine excellence in the construction industry, one project at a time.

This podcast is provided as a free service to you and is for general informational purposes only. Cadence Bank and its affiliates make no representations or warranties as to the accuracy, completeness, or timeliness of the content in the podcast. The podcast is not intended to provide legal, accounting or tax advice and should not be relied upon for such purposes.

To the extent that this podcast includes predictions about the economy, these predictions are subject to a number of variables and you should confer with your legal, accounting and tax advisors for their input regarding the possible outcomes of any economic subject matter discussed herein. Predictions are forward-looking statements that reflect current views with respect to, among other things, future events. Forward-looking statements are not historical facts, and are based on current expectations, estimates and projections, many of which, by their nature, are inherently uncertain and beyond the control of any person or entity. Accordingly, please be aware that any such forward-looking statements are not guarantees and are subject to risks, assumptions and uncertainties that are difficult to predict.

The views and opinions expressed by the host and guests in this podcast are solely their own current opinions regarding the subject matter discussed in the podcast and are based on their own perspectives. Such views, perspectives and opinions do not reflect those of Cadence Bank or any of its affiliates, or the companies with which any guest is, or may be, affiliated. The production and presentation of this podcast by Cadence Bank does not imply the expression of any opinion on the part of Cadence Bank or any of its affiliates.