Gary Mahn, majority owner of Fisher's Document Systems, has sold his interest in the company to three members of the firm's management team for an undisclosed sum.
Mahn, the former director of the Idaho Department of Commerce under Gov. Dirk Kempthorne, helped transform Fisher's from an office equipment store he bought in 1985 to a company which provides document management systems.
Chris Taylor, company president and CEO, Eric Strand, vice president for business development and J.T. Jones, chief financial officer, purchased Mahn's share in the company.
The three had previously owned 49 percent of the company.
Fisher's has 65 employees.
Mahn, 68, backed away from day-to-day operations of the company where he was principal owner 1999 when he agreed to serve as Kempthorne's commerce director. He didn't return until 2004. He found service had slipped in the company and some customers were saying they wouldn't do business with Fisher's anymore.
He began upgrading the company and brought on Chris Taylor, then a 32-year-old University of Idaho chemical engineering graduate with an MBA from the Massachusetts Institute of Technology Sloan School of Management who was a Boise native.
The two worked toward moving Fisher's from a copier company to a firm that also provided solutions for handling a compan'y's documents.
Since 2004, the company's sales have quadrupled, Mahn said. Fisher's is projecting $15 million in sales in its current fiscal year, Taylor said.
The company has expanded, opening stores in Twin Falls and Idaho Falls.
Mahn, who has been in business for 40 years, said he had accomplished his mission of improving Fisher's Document Systems. "These are the guys I worked with now for the last six to seven years to grow the company and turn it around," Mahn said.
He will stay on for a year as an adviser.
The management team also purchased the Fisher's building at 575 East 42nd Street near Veteran's Memorial Parkway in Garden City.
Taylor and Strand will own 82 percent of the company.