The Society of Entrepreneurs has chosen four new members: Mat Lipscomb and Johnny Pitts of Lipscomb & Pitts Insurance, Andy Malmo of Flint Hydraulics, and Patti Phelps of Phelps Security.
The organization was founded in 1991 to honor the contributions of area entrepreneurs. The membership includes Mid-South business owners, presidents, and other key executives.
New members will be inducted at the 31st Annual Dinner and Awards Banquet on Saturday, April 15th, 2023 at the FedEx Event Center at Shelby Farms.
In 1989, Lipscomb and Pitts became partners at Lipscomb & Pitts Insurance. Lipscomb focused on sales management and insurance carrier relationships. Pitts focused on the financial and administrative divisions of the company, while still producing and retaining business insurance. In 1992, they purchased Lipscomb & Pitts Insurance from their fathers.
Donald A. Malmo Jr. purchased Flint Hydraulics, Inc. in the summer of 1981. He saw a need for a distribution business that would warehouse hydraulic pumps and motors from many different manufacturers and for many different types of equipment. This now represents 40 percent of his volume and has the same worldwide presence as the custom pump business.
Phelps is the owner and CEO of the oldest security guard firm in Memphis, with 69 years of operation. It is also the largest certified woman-owned entity in Memphis. Phelps Security provides security guard and patrol services to businesses and residential areas in Memphis and the Mid-South.
The selection of the new members was done by the membership committee, including chair Bill Courtney, David Andrews, Mike Bruns, Ron Coleman, Carolyn Hardy, Edith Kelly-Green, Mary McDonald, Art Seessel, Susan Stephenson, and Duncan Williams. The society’s board of directors finalized the choices.
