dec_2017c

66 67 LOCKHART COMPANIES INC. FORTITUDE AND DIVERSITY LOCKHART COMPANIES INC. L ockhartCompanies Incorporated,aU.S. Virgin Islandscorporation,togetherwith its subsidiaries,ownsandoperatescom- mercial real estate,insurance,andfinan- cial servicesbusinesses.IntheU.S.Virgin Islands, Lockhart isoneof thepre-eminent andmostvisible commercial enterprises,andtheLockhart family isoneof themost establishedandbest known. Founded in1884byAlfredH.Lockhart,aprogenitor of thecurrent controllingshareholders,theCompa- nywas incorporated in1936.Lockhart isoneof the largestbusinesses intheU.S.that ismajority-owned bytwominorities:AfricanAmericansandwomen.  AlfredH.wasbornonthe Islandof St.Croixand migratedtoSt.Thomas,amajorportof commerce backthen,explainsGershwainSprauve,President &ChiefOperatingOfficerof thecompany’sReal EstateSalesandDevelopmentdivision.“Hestarted out importingmajorpopulargoods fromEurope; starteda lumberyardbusiness; theyhadadry goods store,ageneral store,avarietyof farmsand ahotel theymanagedandoperated; aswell asa bakeryandvarious real estate interests.” Bytheearly1900sA.H.Lockhart’sbusinesseshad expandedto includeamajor importingcompany, withexclusivedistributionrights tomanypopular items,includingvarious typesof Europeandistilled spirits,aswell as increasingdevelopedandunde- AT A GLANCE LOCKHART COMPANIES INC. WHAT: Owns and operates commercial real es- tate, insurance, and financial services businesses WHERE: St. Thomas, US Virgin Islands WEBSITE: www.lockhart.com