David L. Coffey

50% Partner at CMC Construction , Inc.

Company:
CMC Construction , Inc.
Wrong David Coffey?

Last Updated 3/3/2003

General Information

Employment History

Commerce , Education , Finance Committee

Tennessee State Representative  - District 33

Education

B. A.  - Physics , King College

Affiliations

Founder  - Nucleus , Inc.

Member of the Investment Committee and A Principal  - The TennesSeed Fund

Web References  

TennesSeed Fund 1: Biographies

DAVID L. COFFEYMr. Coffey is a member of the Investment Committee and a Principal of the TennesSeed Fund.David is an entrepreneur.His company, Securities Service Network, Inc., is a member of the Inc.500 "Hall of Fame."Mr. Coffey, who was an internationally recognized specialist in copper magnets (forerunners to superconducting magnets), started four small technology businesses all dealing with radiation detection and analysis, magnetics and laboratory testing.Mr. Coffey founded Nucleus, Inc., to design, manufacture and sell radiation detection instruments in 1970.He bought Tennelec, Inc., a Nucleus competitor in 1975.Tennelec was bankrupt when Mr. Coffey bought it.He later merged the two companies to become Tennelec/Nucleus, Inc.He increased revenues to $14 million and employees to 140 and had a large European market.In 1982 and 1983, Tennelec/Nucleus received INC 500 awards.In 1988, Mr. Coffey sold the company ultimately to Oxford Instruments, a public company of Oxford, England.In 1970, he also created another company, American Magnetics to design and manufacture super conducting magnet systems.In 1983, Mr. Coffey sold American Magnetics to Diasonics, Inc., a medical equipment company that needed the magnets for its MRI medical systems.In 1983, he and two partners from American Magnetics founded Cryomagnetics, Inc., another super conducting magnet company.His younger son is now CEO and owner, and Mr. Coffey is on the advisory board.In 1979, he started CMC Construction, Inc. as a 50% partner.In 1987 CMC won the INC 500 award as one of the fastest growing companies in America.He donated his interest to the East Tennessee Foundation for scholarships (eighty to date) after growing the company to $10 million in revenues.In 1995, Mr. Coffey acquired Securities Service Network, Inc. from his older son's widow after his son's fatal airplane accident.Mr. Coffey built it from revenues of $6 million to more than $50 million.Mr. Coffey continued his son's record of winning INC 500 awards (1990, 1991, 1992, 1993, 1998, and 1999).Today the business consists of more than 400 investment brokers nationwide with more than $5 billion under management.Mr. Coffey was a Tennessee State Representative, District 33 of Anderson County, Tennessee (1986 - 1996).During his years in the state legislature he served on the Commerce, Education, Finance, Ways & Means and the Small Business Committees.Mr. Coffey has a B. A. in Physics from King College, Bristol, Tennessee . He also is very involved in community and civic affairs.

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