ALBUQUERQUE, N.M. — Long-time Albuquerque manufacturing firms Sierra Peaks and Marpac celebrated new, consolidated digs and a change in ownership this week.
John Rockwell III, until now sole owner of the two businesses, sold the majority of stock in both firms to the general managers at each company in a deal that closed on Jan. 1. Simon Goldfine now controls Sierra Peaks and Jeff Alcalde owns Marpac, with Rockwell retaining an 18% stake in each company.
The ownership change comes as both firms commence operations in a single, 40,000-square-foot facility, after operating separately in four buildings near Balloon Fiesta Park. Rockwell bought the new site near Cliff’s Amusement Park for $2 million last June. He invested about $3 million to remodel it, paving the way for a grand opening Thursday.
An Air Force veteran, Rockwell acquired Marpac in 1996 and Sierra Peaks in 2000, running both as president and CEO. He’ll still work at both companies, but will no longer run things.
“I have an office with a part-time executive assistant, at least for three more years,” Rockwell told the Journal. “I will continue to advise the companies, but I won’t be making the decisions.”
He chose new owners with long-time roots here to keep the companies stable and growing in New Mexico.
“Simon and Jeff have been actively managing and leading these companies for years,” Rockwell said. “They’ll keep people working here, employing New Mexicans and growing the businesses right here in Albuquerque.”
Goldfine has served four years as general manager at Sierra Peaks, which makes specialty electromechanical components.
Alcalde started 12 years ago as general manager for Marpac, a specialized sewing manufacturer that makes medical accessories to stabilize secure breathing and feeding tubes, plus custom-sewn products for individual clients.
Both have grown through acquisitions, such as Sierra Peak’s 2014 purchase of miniature microphone maker Tibbetts Industries, and its 2017 acquisition of local engineering firm Mechtronic Solutions.
Marpac acquired an East-coast distributor of sleep apnea accessories in 2018, boosting production of things like face masks, and now has direct shipping.
“We have an ambitious target for Sierra Peaks of five- to 10-fold growth over the next 10 years,” Goldfine said.
That company currently employs 45 people with $11 million in revenue last year.
Alcalde expects to grow Marpac from about $3 million in annual revenue now to $7 million in the next few years. It currently employs 40 people.
“We’re now sharing resources and leveraging each other’s strengths,” he said.