Evans puts business empire up for sale
selling a large portfolio of local interests, including a 200-year old Front Street building.
He has made CapCar Enterprises the sole and exclusive agent to sell the Harnett & Richardson building opposite Number Six dock, Harnett & Richardson Insurance Agency, Butterfield Travel, Globe Press Printing Company, the Globe Press building on Euclid Avenue, Hamilton ValCleaners and Paget Dry Cleaners.
CapCar president Barry Capuano said: "We already have many interested parties in purchasing the entire block of properties. There are some large groups that are looking at everything. All the businesses are doing well.'' Mr. Evans has kept an office in the Harnett & Richardson building for 33 years. He recalled: "I had just arranged to buy the agency back in the early 60s. I was with Gerald Harnett at the Bank of Butterfield to get the loan to pay for it. I turned to him and said that since he was selling me the business, he might as well sell me the building. The banker said he would okay the additional loan and in a matter of three minutes I owned the building.'' He has lived by a Readers Digest business axiom that "as long as you owe banks money, you are safe''. He continued: "Start small, but always pay back the money. Even when you don't need to borrow money, you still borrow the money and pay it back. It builds your credit.'' Mr. Evans said his business experience has always been good. "I make money slowly,'' he said. "I never rush it. That way you never get in trouble. I've never lost money and I'm too late to lose it now.'' He's the sole owner of just about all of his major holdings.
Will he miss going to the office after three decades? "Hell no!'' he said emphatically. "I have a good looking wife, a beautiful apartment in New York and an office right on the dock at my home at Salt Kettle.'' The Harnett & Richardson Insurance Agency includes a Lloyd's Agency that he believes has been in Bermuda for more than 100 years.
His first business was The Tea Cosy which he owned at age 21. His other six restaurants included The Penthouse, The Hofbrau, Le Petit Cafe and The 21 Club, later The Cock & Feather restaurant.
A first class restaurant, The Penthouse regularly drew the Island's elite until he closed it in the 1980s because it consumed too many hours a day. His wife Edith said: "We could not leave for holiday for any more than eight to 10 days.'' Known as a hard worker, Mr. Evans joked yesterday: "You have to behave yourself when you are married anyway, so you might as well work hard.'' Real estate remains his business love, because, he said: "It always appreciates in value.'' He retains a personal portfolio of other holdings, including the Longtail Cliffs hotel under Stanley Evans Investment Company Ltd.
Born to a Welsh hotel captain on the Queen of Bermuda and an Irish mother, he first came to Bermuda at the age of seven.
He can't think of a thing that he hasn't done that he wanted to. He's sailed his own yacht, piloted his own Cessna and built a personal financial empire in Bermuda.
GOING INTO RETIREMENT -- Stanley Evans has put his businesses up for sale