Ace Hardware strives for ‘seamless’ transition to new ownership

If Mike Richey seemed even more relaxed than usual at the Seeds of Change Gala in February, he had good reason.

The long-time owner of Maricopa Ace Hardware was enjoying his first day of retirement Feb. 29.

“Jacquie and I are taking a swan song. We’re retiring, and we’d like to introduce the new owners of Maricopa Ace Hardware, David and Cheryl Karsten,” Richey said while donating $8,000 to Against Abuse.

The Karstens have four Ace stores, mostly in the north end of the Valley – Phoenix, Goodyear, Carefree and Queen Creek – with David holding the title of president and chief executive officer. He has been a member of Ace’s Board of Directors since 2011, chairing the finance committee. He’s been part of the Ace company for 17 years.

Richey said Karsten’s experience with retail in general and specifically the corporation’s Pinnacle Performance standards made him feel he would be a good fit in Maricopa. He said it was imperative his employees “be taken care of” during the transition into Karsten’s Ace Hardware. Troy Ricci remains as manager.

Karsten said he knew there were big shoes to fill because of Richey’s involvement in the community. He said it is his “goal and wish” that his team achieves that level of connection in Maricopa as part of their core values.

Richey acknowledged it takes time to earn trust in the give-and-take of community involvement.

“Operate your business as if, if you weren’t there, the community would miss you,” Richey said. “I’ve always taken that to heart. It’s always been the core of what we do. He gets that. The transition will be seamless.”

Karsten said he wanted it to be as seamless for the team of employees as it is for the customers.

“That’s what we strove for, I think we have accomplished that, which is pretty cool.”

Learn more in the upcoming April issue of InMaricopa.