Dubuque man sells longtime business to daughter - KWWL - Eastern Iowa Breaking News, Weather, Closings

Dubuque man sells longtime business to daughter

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DUBUQUE, Iowa (AP) -- A Dubuque man is keeping his longtime business in the family by selling it to his adult daughter.

The Telegraph Herald says 66-year-old Larry McDermott sold his company, McDermott Excavating, to Tara Duggan. A deal was finalized in June.

McDermott says he never intended to sell the business to family. He was looking for a way to sell the company but take care of his employees.

Duggan made an offer to her father in April, after she and her husband agreed to acquire a company that's separate from their restoration company in Wisconsin.

Duggan says she reached out to workers at McDermott Excavating to ensure they would stay if she took over the business. The company has 20 employees. It started in 1978 with just three employees.

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