Jim McGlothlin and United Coal Company achieved the dream of becoming one of the largest coal companies in the country. John and Joe Gregory attained similar success in the pharmaceutical industry.

In addition to their vast corporate success, the three Bristol philanthropists have another commonality – each has shown a keen investment interest in the other’s company.  

While McGlothlin’s investment in King Pharmaceuticals occurred nearly a decade ago, Bristol, Va.-based United Coal has allowed outside investors, the Gregorys, to take an ownership share of the company for the first time in its history.   

“When we invested in King Pharmaceuticals, we had confidence in John, Joe and their management team, and that helped The United Company grow even more successful,” said McGlothlin, chairman and CEO of The United Company, United Coal’s parent. “The relationship with John and Joe worked so very well then, and I see this as a true dream partnership.”  

McGlothlin began United Coal in 1970 and sold it in 1997.  In 2004, he restarted the company and began to rebuild it after hiring Michael Zervos as chief executive officer in April 2005.  In less than one year, United Coal, under the guidance of McGlothlin and Zervos, has developed proven recoverable coal reserves in excess of 165 million tons and is on track to produce more than 6 million clean tons of coal annually. 

“Jim has a remarkable understanding of the coal industry,” said John Gregory, managing partner and CEO of SJ Strategic Investments, headquartered in Bristol, Tenn.  “He demonstrated that when he built UCC the first time. Now that he has re-entered the coal business, I am confident he can do it again. He has a solid plan, a great management team led by Mike Zervos, a track record of success and a stellar reputation.”  

All of these men built their success from small operations and diversified into other areas.  

“John and Joe bring more than a capital investment to UCC,” McGlothlin said. “They bring proven business acumen and experience that ranges from founding a company to a successful public offering, while remaining excellent corporate citizens.”

All are well-known philanthropists and community supporters.

”Jim focuses not just on the people who work in the company but on the entire community,” said Joe Gregory, managing partner and CEO of Gregory Energy Partners, LLC. “Additionally, the company has an exemplary safety record and a strong commitment to continue this impressive record. This is important to the Gregorys, as we know it has been to Jim and everyone at United Coal.  

“As our companies grow, our philosophies of remaining tied to our communities and supporting them mesh.  The potential growth at United Coal is certainly very attractive based on what has happened in the past year.” 

Since its resurgence, UCC has purchased several companies and now operates four subsidiaries: Carter Roag Coal Company, Elkins, W.Va.; Sapphire Coal Company, Isom, Ky.; Pocahontas Coal Company, Beckley, W.Va.; and Wellmore Coal Company, Big Rock, Va. 

UCC is a privately held company with subsidiaries in West Virginia, Virginia and Eastern Kentucky.  The majority shareholder is The United Company, a diversified holding company headquartered in Bristol, Va.   Gregory Energy Partners is a private, family-owned company headquartered in Bristol, Tenn., focusing primarily on investments in domestic natural resources and energy development.

SJ Strategic Investment is a private, family-owned investment vehicle with a diverse portfolio of public and private investments. SJ is managed by John and Joan Gregory, their daughter, Susan, and son, James.