Martha Peterson of Southern Tier Supply

Martha Peterson
Southern Tier Supply
Jamestown SBDC

Southern Tier Supply (STS) is best known for supplying high quality construction and industrial supply products at competitive prices, providing excellent customer service, and offering new and innovative product lines. Martha Peterson, the owner of Southern Tier Supply, was the company controller for 15 years before acquiring ownership in 2002. She bought out SES’ founder, and achieved designation as both a WBE (New York State woman-owned business) and a DBE (federal disadvantaged business enterprise). The company has grown consistently since 2002 despite ups and downs in the construction market. Sales, ranging from $2 - $5 million, have doubled since she took over.

In 2005, Ms. Peterson decided to purchase the leased facility her business occupied. She contacted city and county economic developers to inquire about incentives, and was referred to the SBDC for assistance with the acquisition. Business Advisor Beth Reed worked with Ms. Peterson to analyze historical performance, create a comprehensive business plan, and review environmental concerns. Two and a half years later after she first consulted the SBDC, and after working through a renegotiated purchase agreement, multiple revisions to her business plan, and a protracted environmental analysis and remediation of the property, Ms. Peterson finally purchased the business. Her efforts were rewarded with a reduced purchase price (over $100,000 less), an environmentally-clean site, and public loans of $300,000 that combined for project financing of $500,000. Martha Peterson relates, “Beth Reed was instrumental in helping us achieve our financial goals related to expansion.