e r e h t t o g y e p o t h e t h t o t How Big wigs’ climb en M ar y E ll St an ek
U go ao ch a N w ag b ar
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THE INTERVIEW: ERIC RESCH OF STONE CREEK COFFEE 11 MANUFACTURERS NAVIGATE TIGHTENING JOB MARKET 21 FARROW SIGNS ON AS M7 CO-CHAIR 24
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Wednesday, July 12, 2017 7:00 AM - 11:30 AM | Potawatomi Hotel & Casino
Transitioning Your Wisdom and Your Wealth Join BizTimes and a distinguished group of family business owners and leaders for a morning of inspiration and hands-on learning to help you embrace the next generation of change in your business. Our speakers and roundtable sessions will spur new thinking and expand on existing ideas around culture, growth, transition, sustainability and legacy. Author and family business expert Tom Deans will again kick-off the program with a keynote address. He will share insights from his best-selling book, “Willing Wisdom: 7 Questions Successful Families Ask.” All attendees will receive a copy of “Willing Wisdom.”
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Featured Family Business presentation - R&R Insurance - Founded - 1975 Ken Riesch - Co-founder, Owner & President, Jack Riesch - Owner & Executive Vice President (and one of family business successors)
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KEN RIESCH
Following the family business presentation, the program continues with four- twenty-five minute roundtable discussions, which include the following topics: • Rewarding Your Key Management: Bonus Plans • Value Determination and Improvement Strategies • Life after Sale: what can you realistically expect after you exchange your business for cash? • Borrowing to Build: Grow Your Business, Build Your Legacy • Family Business Can Be Complicated – Retiring from it Doesn’t Have to Be • Are You Prepared to Live the Retirement and Leave the Legacy You’ve Always Wanted? • Planning for Transition in Your Family Business • Managing Your Workforce – Legally • Secure Your Secrets, Button Up Your Brands, and Patent to Protect Your Profits • The Family Retreat- The Shully Family discusses how getting
away helps them plan better • ESOP, A great succession plan but not for JACK RIESCH every business • Is a family meeting right for me? • Re-Defining Roles and Creating Guiding Principles • The Greatest Untapped Potential of the Family Business - Healthy organizational and family dynamics • Strategic Acquisitions–The Playbook of Successful Acquirers, including the Seller’s Prospective • If you’re failing to plan, then plan to fail • Family Philanthropy – How Families Carry on Their Values through Charitable Giving
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BizTimes Milwaukee (ISSN 1095-936X & USPS # 017813) Volume 23, Number 06, June 12 – 25, 2017. BizTimes Milwaukee is published bi-weekly, except two consecutive weeks in December (the second and third weeks of December) by BizTimes Media LLC at 126 N. Jefferson St., Suite 403, Milwaukee, WI 53202-6120, USA. Basic annual subscription rate is $42. Single copy price is $3.25. Back issues are $5 each. Periodicals postage paid at Milwaukee, WI and additional mailing offices. POSTMASTER: Send all UAA to CFS. NON-POSTAL AND MILITARY FACILITIES: Send address corrections to BizTimes Milwaukee, 126 N. Jefferson St., Suite 403, Milwaukee, WI 53202-6120. Entire contents copyright 2017 by BizTimes Media LLC. All rights reserved.
Contents
4 Leading Edge 4 NOW BY THE NUMBERS 5 IN FOCUS 6 BIZ COMPASS 7 THE PUBLIC RECORD BIZ POLL 8 MY FAVORITE TECH THE GOOD LIFE 9 GETTING THERE 10 INNOVATIONS
11 News 11 THE INTERVIEW 12 MY TAKE 13 MADE IN MILWAUKEE
14 Real Estate 21 Business in Waukesha County 40 Strategies 40 DAN SCHROEDER 41 JIM LINDELL 42 DAVE BORST 43 TIP SHEET
COVER STORY
16
How they got there
45 Biz Connections
Big wigs’ climb to the top
Special Report
Cover photos by Kat Schleicher Photography
25 Top 10
Meet the Top 10 Businesses of the Year in Waukesha County.
45 NONPROFIT 46 PERSONNEL FILE 47 SBA LOANS 48 GLANCE AT YESTERYEAR COMMENTARY 49 AROUND TOWN 50 MY BEST ADVICE
C R E AT E D TO B E
W I SCO N S I N ’S BA N K F O R B U S I N E SS™ As a company built for this area, we see things differently. We don’t worry about what other companies are doing in other places, because we know firsthand what our area and businesses need to succeed. This is because we’re a proud local business too. It makes all the difference when a bank understands your community and supports your business goals. That’s why we’re honored to call ourselves Wisconsin’s Bank.
4 1 4 - 2 7 3 - 3 5 0 7 | w w w. t o w n b a n k . u s
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Leading Edge
BIZTIMES MEDIA – Like us
NOW
A rendering of the corporate research center planned by A.O.Smith in Milwaukee.
Corporate research center to be built for A.O. Smith By Corrinne Hess, staff writer A.O. Smith Corp. announced it is planning a new state-of-the-art research facility to house its corporate technology center. Milwaukee-based developer Irgens Partners LLC will develop the 42,700-square-foot, one-story building just south of the company’s corporate headquarters, located at 11270 W. Park Place, on the far northwest side of Milwaukee.
A.O. Smith, which designs, manufactures and distributes water heaters for a global market, has signed a long-term lease with Irgens for the new building, which will be owned and managed by an Irgens affiliate. Ajita Rajendra, A.O. Smith’s chairman and chief executive officer, said the new building will be a showcase research center that customers, suppliers and government officials can visit. “Research and innovation have been fundamental to A. O. Smith’s success for 143 years,” Rajendra said. “Over the last several years, we have increased the size of our CTC team by 40 percent as we’ve entered the global water treatment and air purification markets.
BY THE NUMBERS
4,366 4 / BizTimes Milwaukee JUNE 12, 2017
The City of Milwaukee’s population fell by 4,366 last year, the largest drop in the state, according to the U.S. Census Bureau.
This new facility will give our team the capabilities to maintain our leadership position in these rapidly growing industries.” Groundbreaking on the new technology center is expected in August, pending City of Milwaukee approvals, with a completion date anticipated in late 2018. The number of employees that will be working at the center is yet to be determined, but the work done at the location will include research and development of potable and hydronic water heating, water treatment and air purification. A.O. Smith, has been leasing a 49,870-square-foot, 30-year-old building for its corporate technology center at 12100 W. Park Place. That lease is set to expire in November 2018 and the company will vacate the building. Bill Bonifas, an executive vice president at CBRE, represented A.O. Smith in the company’s search for a new building. A.O. Smith began as a Milwaukee machine shop making metal parts for baby carriages in 1874. The company evolved, entering the bicycle and automobile industries. In the 1970s, A.O. Smith opened its water heater division. In 2011, the company refocused and embarked on a strategy to
become the world’s leading water technology company. A.O. Smith has taken steps to grow its water technology business, including the 2011 acquisition of Lochinvar Corp., a manufacturer of high-efficiency residential and commercial boilers, and last year’s acquisition of Aquasana Inc., a leading direct-to-consumer water treatment company. A. O. Smith has maintained a corporate research team since the 1920s, and has occupied its current research facility on the city’s northwest side since 1984. The existing facility no longer fits the needs of the company, said Robert Heideman, senior vice president and chief technology officer. “When we moved to our current facility, A. O. Smith was made up of six operating units that were in a variety of industries,” Heideman said. “Not only is the company significantly different today than it was more than 30 years ago, the technologies are substantially different, as well. The team is excited to have a new space to carry out our mission.” Today, A.O. Smith is a $2.7 billion company with 20 manufacturing plants and 10 product engineering facilities around the world. The company employs approximately 15,500 people. n
inf cus
Break time at Port Milwaukee PORT MILWAUKEE crane operator John Dermyer takes a brief break from unloading steel coils from the Federal Satsuki. The ship had recently arrived from IJmuiden in the Netherlands. Federal Marine Terminals dockworkers from the International Longshoremen’s Association Local 815 handled the coils and transported them to port warehouses. The ship was then loaded with 20,000 tons of agricultural products and headed back to Europe. “It was this steel in and agriculture out model that the Port utilized so effectively in 2016, leading to the receipt of the Robert J. Lewis Pacesetter Award,” said Peter Hirthe, senior trade development representative at Port Milwaukee. The award, handed out by the St. Lawrence Seaway Development Corp., recognizes ports for annual increases in international cargo. Port Milwaukee was part of moving 447,000 metric tons through the St. Lawrence Seaway last year, a more than 50 percent increase. The port also recently changed its name, dropping the word “of,” and adopted a new logo and tagline. The changes were intended to highlight the port’s role in domestic and international transportation. “Port Milwaukee adds efficiency, reliability and flexibility to the transportation system, and we connect businesses throughout our region to markets across North America and around the world,” Mayor Tom Barrett said. n
PHOTO CREDIT: SHELLY TABOR
By Arthur Thomas, staff writer
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Leading Edge
@BIZTIMESMEDIA – Real-time news
BIZ COMPASS
what
UNDERVALUED
1
QUALITIES DO YOU LOOK FOR IN
JOB CANDIDATES?
1 PATTI PLOUGH
President and CEO of operations, Healics Inc.
“Resilience. No matter what job you’re applying for, you will have to persevere in it to achieve the best results. A startup scales through resilience by processing, repetition and constant improvement. Candidates must demonstrate this ability through their past experiences. This gives me an indication that the candidate will work through challenges and not give up.”
BROWN 2 BETSY
Executive vice president/general manager The Cramer-Krasselt Co.
“Humbleness—we work in a team environment and the work suffers if someone wants to steal the show. Attentiveness—the ability to really listen to clients and coworkers. Eagerness—our business changes so fast, you have to be ready for the next challenge every day.”
2
3 JEFF GRUHN
General manager of health care - M.A. Mortenson Co.
3 5 4
“Too often, firms make decisions based solely on a candidate’s experience and education. While these are important, it’s also valuable to identify whether the individual will integrate into your culture and be a long-term asset. Hiring genuinely good people who have a broad skillset and (are) able to adapt with the evolution of the business is key.”
ZWYGART 4 CHRIS
Chief legal officer - West Bend Mutual Insurance Co.
“Empathy and diplomacy. It’s easy to be drawn to a candidate who is a rule enforcer and focuses mercilessly on executing the tasks at hand. A candidate who understands others’ perspectives and can patiently negotiate good alternatives is better at identifying and addressing issues before they become problems.”
5 KELLY RUDY
President, The Paranet Group
“Stress can be high so a sense of humor is great. We want to see healthy curiosity around what we do and how to improve it. We won’t let our people become failures, but first they need the courage to fail and then confidence to move forward.” n 6 / BizTimes Milwaukee JUNE 12, 2017
THE
PUBLIC
BIZ POLL What do you think Fiserv will decide to do with its corporate headquarters?
RECORD Top uses for Wisconsin Center District facilities
WISCONSIN CENTER
Stay in Brookfield: 20% Move to downtown Milwaukee: 62%
By Arthur Thomas, staff writer AS DEBATE CONTINUES about a possible expansion of the downtown convention center, Wisconsin Center District officials sought to better understand how their current facilities function. Consultants hired to examine operations made it clear the facilities weren’t the worst they had seen, but there was room for improvement. Crossroads Consulting Services LLC and Barrett Sports Group LLC compared WCD facilities with comparable operations around the country. Their conclusion? The facilities are well-managed and -maintained, but underutilized and in some cases, in need of continued investment. “If you look at the district facilities as a whole, you’re below average,” said Susan Sieger, president of Crossroads. The district was in the bottom half for events and attendance among comparable complexes in cities that included Bakersfield, California; Baton Rouge, Louisiana; Charlotte, North Carolina; Des Moines, Iowa; Duluth, Georgia; Grand Rapids, Michigan; Greensboro, North Carolina; Omaha, Nebraska; Spokane, Washington; and Tucson, Arizona. But just what are the three WCD facilities being used for on a regular basis? BizTimes analyzed data from the consultants’ report to determine the top event types at each facility based on attendance over the past five years. n
Consumer/public shows – 41% Conventions/tradeshows – 24% Meetings/conferences – 11% Sporting events – 11% Banquets/receptions – 7%
Move out of state: 17% Other: 1%
UWM PANTHER ARENA
Assemblies/graduations – 24% Shrine Circus – 19% Wave games – 16% Disney on Ice – 12% UWM games – 6%
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Concerts – 35% Assemblies/graduations – 29% Other – 21% Broadway shows – 14% Disney shows – 1%
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Leading Edge
BIZTIMES MEDIA – Connect
MY FAVORITE TECH
the
Good LIFE MATT ENGIBOUS
Solution lead for production and collaboration, Concurrency Inc.
Engibous leads a team of 11 people who help large companies manage content through Microsoft SharePoint. Engibous has been in his role for almost six years and has worked in the technology business since 2003. Though his work, Engibous has discovered several products that help him to be more organized, both at work and at home. Here are a few of his favorites.
FEEDLY “This is one of my favorite apps to stay up-to-date on news and announcements and learn on the go. I can easily read, organize, follow and share multiple sites and blogs. It is a great time saver!”
SOCIAL MEDIA “My favorite social apps are LinkedIn and Twitter. Both sites allow me to stay in the loop on news and announcements happening with business partners and my friends. They also have messaging functions to allow me to quickly connect with people.”
MICROSOFT ONEDRIVE FOR BUSINESS “I use this to keep all of my important working documents and presentations synced and organized. I can quickly move from mobile to tablet to home PC and have access to all the same files just where I finished working. I can easily and securely share files with others and I can sync all of my important work files here. This is my workspace and I never have to worry about backups or losing something.”
MICROSOFT ONENOTE “I live in this application and I turned my wife onto it a couple of years ago, but she preferred writing things down in a notebook. After starting a new job, she tried it again and now she absolutely loves it. So many ideas pop into your head and instead of waiting until later, you can just get it into the note and review it when you need to. This has become my go-to for everything.” n 8 / BizTimes Milwaukee JUNE 12, 2017
Recharging through nature By Corrinne Hess, staff writer
A
s a community organizer with the Northwest Side Community Development Corp., the most rewarding part of Natalie Bantleon’s job is often the hardest. Bantleon spends her days working to empower the residents living on Milwaukee’s northwest side in the hopes of
“Whenever I can spend my free time outdoors, I do it.” – Natalie Bantleon building a safer, more viable and sustainable community. “We try to be a resource, but I don’t always have the answers,” said Bantleon, who started as an intern at NWSCDC in 2015 and was hired full time after graduating from college in May 2016. “No two days look the same,” she said. To maintain balance, Bantleon
finds peace in nature by running outdoors six days a week, year-round. “It is my time of day to pause,” she said. “I am able to think about some of the challenging things at work and I finish my runs refreshed and ready to begin again.” Bantleon typically runs between five and 12 miles a day. She has completed a handful of half marathons and finished her first full marathon last year. Besides running, Bantleon enjoys cross-country skiing and snowshoe hiking in the winter, and kayaking, biking and rollerblading in the summer. “Whenever I can spend my free time outdoors, I do it—either by myself or with my family, which is a great way to share a conversation,” she said. Bantleon credits her mom for getting her outdoors as a young girl, which in turn cultivated her adventurous spirit. “For as long as I can remember, we made it a priority to have a daily adventure,” Bantleon said. “Even as a little kid, it was something just instilled in me.” n
G E T T I N G THERE
JUSTIN SMITH BVK
AG E : 31 Hometow n : Palatine, Illinois Education: Bachelor’s in journalism, communication studies, economics from Northern Illinois University Previous position: Public relations specialist at Reinhart Boerner Van Deuren C u r re nt p o s it ion : Public relations account supervisor
What do you like best about public relations work?
What is your ultimate career goal?
“Every day is different. No two days are the same.”
“Whatever setting you’re in, whether you’re working for a company or whether you’re working for an agency, you just want to be someplace where you’re excited to get up every day and come in to work.”
How will your previous work experiences contribute to this new role? “At Reinhart, they have (18) different practice areas – everything from health care to real estate to food and beverage, and I was working in all of those practices while I was there. I’ve gotten a lot of experience in my career both in different industries and in different settings.”
Why did you move to Milwaukee after college? “For work. It was purely a numbers game. I graduated college in 2009, at the height of the recession. I wanted to work and live in Chicago, but it was very difficult to find an entry-level job. I came to Wisconsin and Milwaukee hoping there’d be less competition and more opportunity. It’s worked out pretty well.”
What is your biggest regret? “I imagine many professionals can relate to this, but I often regret not having enough time during the day to unplug, pause and think holistically and strategically about my role and how I can best serve my clients. I worry about not recognizing the next big idea until it’s already here.”
What are you doing in terms of personal development? “The public relations industry is changing just as fast as the media industry is, and I have to keep current for my clients. I’m constantly looking for networking opportunities, webinars or conferences to stay smart.”
“The program’s affordability and accessibility is tremendously important to our 1,300 employees.” Douglas Bergan, Vice President of People Goodwill Industries of North Central WI
Aurora Health Care helps businesses build healthier and happier workplaces. We offer more access to exceptional care, including more locations closer to home, more care options and world-class doctors, all at a cost that fits your bottom line. To hear the rest of Goodwill’s story and to learn how Aurora can help your company, visit aurora.org/workwell
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BIZTIMES MEDIA – Like us
INN Taking the guesswork out of home injury care Pains and Strains curates kits for orthopedic ailments
A knee kit curated by Pains and Strains that can treat osteoarthritis or meniscus injuries.
Pains and Strains LLC Cedarburg
INNOVATION: Curated injury care kits INDUSTRY: Health care FOUNDED: March 2016 painsandstrains.com 10 / BizTimes Milwaukee JUNE 12, 2017
VAT I WITH THE RIGHT TOOLS AND INSTRUCTIONS, people with injuries like tennis elbow and Achilles tendonitis should be able to eliminate their pain. But many of those suffering from these afflictions don’t have all the necessary home medical equipment to recover, the time to see a physical therapist five or more times, or the funds to cover rising deductibles. And because orthopedic rehabilitation products often are not covered by insurance, doctors are hesitant to prescribe them. Joe McClung wanted to address this issue, so he co-founded Cedarburg-based Pains and Strains LLC to provide curated medical care kits for common injuries. In addition to tennis elbow and Achilles tendonitis, Pains and Strains sells kits for osteoarthritis, meniscus, patella tendinitis, ankle sprain and plantar fasciitis. The kits include equipment and instructions to ice, rest, realign, strengthen, stretch and relieve pain related to the ailments. Each type of injury has a couple of simple diagnostic questions to help a customer narrow in on which kit is needed. The osteoarthritis description, for example, asks “Do you have a stiff knee that takes a while to loosen up or the feeling of warmth in the joints?” “We’re not diagnosing,” McClung said. “This is to empower them through education. For most tendinopathy issues, what we’re providing could only be helpful.” McClung has experience with these conditions because he was an executive at orthopedic device manufacturer DJO Global, maker of Aircast, for 13 years. There, he saw that while there were many medical devices being created,
NS
they weren’t ultimately getting into the hands of patients through traditional medical channels. The Pains and Strains kits, which retail for between $99 and $199, are designed to protect and support joints to allow them to heal by reducing swelling, protecting the injury, building strength and regaining motion, and providing relief that assists with recovery. The tennis elbow kit, for example, includes a freeze sleeve, a surround tennis elbow strap, a strength and stretch plan, resistance exercise bands, a gel squeeze ball and fast freeze, a topical analgesic. The key to recovery is to assure several coordinated steps are taken to alleviate pain and promote healing, McClung said. “The No. 1 source of pain is inflammation and an inflammation in the joint creates pain,” he said. “Usually what occurs is somehow it’s overused or you’re out of line.” “If you take plantar fasciitis, if you take Achilles tendonitis or tennis elbow – they’re common, but they’re kind of chronic,” McClung said. “People have a tendency to just deal with them, which isn’t the right thing.” A doctor might suggest taking some Advil and staying off the injury, but the Pains and Strains kit gives additional recommendations for active management, McClung said. “This gives me something to do so my choice isn’t knee surgery or nothing,” he said. A patient could buy all these products individually, but not at the same pricing, McClung said. He uses his relationships and experience in the rehabilitation world to choose effective solutions. “What we’re providing is not the product. We provide the solution and the curation of the best product,” he said. The founders of Pains and
A SnOH Ball included in Pains and Strains’ plantar fasciitis kit, along with a strength and stretch plan and other tools.
Strains, McClung and orthopedic sports medicine surgeon Dr. Ryan Geringer, have been bootstrapping the business since it was established last March. The company is run out of McClung’s home, and also rents a warehouse to store its kits. “We want to be the do-it-yourself in the DIY economy for joint pain,” McClung said. “And make it simple for people to get the solutions and the education.” Pains and Strains kits are distributed via its website, as well as by referral partners at fitness centers, including The Wisconsin Athletic Club. Jesus Quinones, a member services representative at the WAC, brought McClung in to demonstrate his products as part of the Business Spotlight series at the Menomonee Falls WAC earlier this year. “I think it’s a great idea of what he’s doing and so we were happy to have him in here,” he said. n
MOLLY DILL
Managing editor P / 414-336-7144 E / molly.dill@biztimes.com T / @BizMolly
BizNews
the
Interview
STONE CREEK COFFEE’s four co-owners recently decided to expand the coffee business into Madison and Chicago, as well as open new cafes in the Milwaukee market. Stone Creek will open a cafe in July in Wauwatosa, in November on Downer Avenue in Milwaukee, and two in Chicago in spring 2018, bringing the total to 15 stores. BizTimes managing editor Molly Dill caught up with Eric Resch, founder and co-owner of Stone Creek, about the company’s growth streak.
How did you decide it was time to start expanding into other markets, and how did you choose Chicago and Madison? “Why new markets? Why climb a mountain? Because it challenges you; because it’s full of unknowns; because it helps you grow. “We chose Madison and Chicago, ultimately, because they were close to home. We could drive there in a day, we could visit our cafes, we could serve our customers, we could serve our stores out of the Stone Creek factory in Milwaukee. We do buy local fresh bakery in Madison. We’ll do the same thing in Chicago. And then at some point, if our business continues to grow in Chicago, we would build a Stone Creek roastery and then potentially, a Stone Creek kitchen. That’s where we make all our coffee-centric foods.”
How does Stone Creek differentiate itself in a crowded coffee market? “On the retail side of our business, we focus on three primary things: No. 1, the quality of our coffee that we try to produce – we call it sweet, clean and juicy. The second is to build beautiful cafes – places that you want to come see and spend time. The third is creating a very welcoming space and just having professional level baristas there every day all day to serve our customers. “One other thing that is an umbrella statement: We have a saying at Stone Creek that is ‘Never stop learning.’ It’s really a celebration of failure. We welcome and encourage crazy ideas, we’re willing to try things, we prototype the ideas as quickly as we can.”
What are some examples of celebrated Stone Creek failures?
KAT SCHLEICHER PHOTOGRAPHY
“For a while, we actually had a fail wall – a wall where we would post big and small failures. It would go from anything from the first time we shipped a container of coffee from Tanzania, it got lost and ended up in a port that we didn’t know it was going to and the coffee got too hot, all the way to trying to develop a new coffee with rose petals on top that just didn’t work. “Failure is a strong word. It’s more about encouraging new things, trying new things. They’re simply just exercises in learning.”
Stone Creek has a flat leadership structure. Has that become more challenging as the company has grown?
Development director, co-owner, founder and quality grader
“We didn’t used to have that. It was more of a traditional hierarchy. We actually put this in place about three years ago because as the entrepreneur or the original founder of the company, I was out of bandwidth. Now it’s sort of mass chaos with a reasonable amount of control and feedback loops. It’s up to each team to accomplish their goals and we have a shared understanding of what their goals are. But it’s up to them to go find the resources and the partners to accomplish those goals.”
Giri Corp., dba Stone Creek Coffee
Has that structure ever backfired or been a challenge for you?
422 N. Fifth St., Milwaukee
“I would say for me individually, it’s been a challenge because I had to change my habits. As the founder of the company, I have a tendency to want to control things. I think for some individuals who want to be told what to do, it can feel unstructured and difficult. Because the structure rewards those who kind of stand up and go do something.” n
Eric Resch
Employees: About 130 s tonecreekcof fee.com
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BizNews
MY
Wisconsin’s economy
Republicans and Democrats have very different views of the Wisconsin economy and two recent news items highlighted their disagreement. The Ewing Marion Kauf fman Foundation ranked Wisconsin in last place among larger states for startup activity. But at the same time, the state’s unemployment rate dropped to 3.2 percent, the lowest since February 2000. Gov. Scott Walker took the occasion to talk up the performance of the state’s economy, while Assembly Democratic Leader Peter Barca (D-Kenosha) said the lack of startup activity in Wisconsin is troubling for the state’s economy.
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SCOTT WALKER PETER BARCA Governor (R-Wisconsin)
Advertise in these upcoming special reports and get your message in front of area business executives.
Family Business July 10, 2017 Space Reservation: June 21, 2017
Mid-Year Economic Forecast
July 24, 2017 Space Reservation: July 5, 2017 Contact Linda Crawford today! Phone: 414.336.7112 Email: advertise@biztimes.com 12 / BizTimes Milwaukee JUNE 12, 2017
Assembly Democratic Leader (D-Kenosha)
REPUBLICAN DEMOCRATIC “We have worked hard since 2011 to get our state’s economy back on track, and (the unemployment rate) news is further evidence we are continuing to move Wisconsin forward. “Our unemployment rate is down from 8.1 percent when we took office to 3.2 percent today. This is the lowest it’s been since February 2000, and the number of people in our workforce is at an alltime high. Our reforms are working and our future is bright, but there is more work left to do. “Now is not the time to raise taxes on middle-class families. I call on members of the Legislature to stand with me and provide continued across-the-board tax relief for the hardworking people of our state so our economy can continue to thrive.”
“For years, we’ve been trailing the rest of the country in entrepreneurship. This trend must end. We need to invest in our world-class universities—keys to the creation of new ideas and invention. We need to focus on workforce development and attracting investors to our state. Instead, we’ve had six years of Republican policies that have hurt Wisconsin families and slowed job growth. “I’m calling for a special legislative session to find meaningful solutions to the lack of entrepreneurship in our state. As a (Wisconsin Economic Development Corp.) board member, I’m also asking that we address this at our next meeting. New businesses and innovation are crucial to our economy and the future of our state. Our current policies are simply not working.”
Fresh-flo brings fish fresh air LOCATED JUST OFF I-43 on the far southern end of Sheboygan, Fresh-flo Corp. certainly isn’t one of the largest manufacturers in the state. But Barb Ziegelbauer and her team have carved out a piece of a unique market and ship Fresh-flo products around the world. Fresh-flo primarily makes water aerating products for fish famers, hatcheries and private pond owners. The company’s product line also includes a fish grader and a unique bug light fish feeder. “It’s a niche product in a niche market,” said Ziegelbauer, president of Fresh-flo. The aerators are used to put oxygen into water and remove unwanted gases. It’s an important part of keeping fish alive when farmers are taking fish either to a restaurant, or a lake or stream. “They want to put as many fish in that tank as they can,” Ziegelbauer said. “The guys that are really good
ARTHUR THOMAS Reporter
P / 414-336-7123 E / arthur.thomas@biztimes.com T / @arthur8823
at it will actually have more volume of fish than water in the tank.” In addition to transport situations, the aerators are also used in ponds. The fish graders are used by those raising more aggressive types of fish, where the larger ones will eat the smaller ones. The device measures and separates fish by width. Fresh-flo’s model is unique since it is adjustable without having to add in additional screens. Ziegelbauer said about one-third of the company’s business is with state and federal fish hatcheries, and private fish farmers make up most of the remainder. Less than 5 percent of Fresh-flo’s business is in Wisconsin, but the company does sell to the state Department of Natural Resources, along with federal hatcheries in Wisconsin. Fresh-flo also exports its products and has a distributor in Australia, although most exports go to Mexico and Canada. Ziegelbauer said Canadian shipments seem to fluctuate with the exchange rate. The Mexican government provides more support for its aquaculture industry, so customers are a little less concerned about exchange rates. The company sells up to 900 of its aerators per year, along with a couple hundred graders. Ziegelbauer said when her family first got into the business in the 1990s, the expectation was growth in aquaculture would spur growth in the business. She said it has grown, but “it’s reflected the same way aquaculture has grown, and it’s by ones and twos.” “There’s resistance out there,” Ziegelbauer said, pointing to the view
Barb Ziegelbauer demonstrates a Fresh-flo aerator in the company’s test tank
FRESH-FLO CORP.
3037 Weeden Creek Road, Sheboygan INDUSTRY: Aquaculture equipment EMPLOYEES: 5 f r e s h f l o.c o m
of some that fish farmers pollute the water. She said the farms are so tightly regulated the water is often cleaner when they return it than when they first diverted it for their use. “You can’t grow fish in dirty water.” “The people that are in, that have been in for a long time, are getting more efficient, so they’re growing more fish, so it’s growing that way, too,” she said. Still, entering the fish farming market is a capital intensive decision and growth can be hard to come by for Fresh-flo. The company advertises in trade publications and attends some trade shows, although not as many as in the past. “Because we’re so small, if I’m at a trade show, nobody’s answering the phone,” Ziegelbauer said. “So I have to weigh the value of the trade show versus ignoring all the rest of my customers.” With just a handful of staff working part-time, Fresh-flo is forced to find the most economical methods of production. Motors are produced by another firm and some
of the more complicated parts are machined by another supplier. “We used to keep everything inhouse because it was cheaper; now it’s not anymore” Ziegelbauer said, noting the rise of CNC machines has resulted in better parts, although Fresh-flo couldn’t afford to have one of its own. The company does have its own custom-built test tank, capable of testing a variety of different power sources. Fresh-flo’s shop is also shared with another business in which the family is involved, Precision Roofing Services Inc., helping to ease the burden of some facility costs. Being in a niche business, Freshflo feels the forces of trends and regulations at farms and restaurants. “A lot of the farmers are getting real creative with how they market the end product,” Ziegelbauer said, with some getting into processing and others, like Rushing Waters Fisheries LLC in Palmyra, starting their own restaurants. “The restaurants are starting to see the value and demand farm-raised fish.” n biztimes.com / 13
Real Estate
@BIZTIMESMEDIA – Real time news
COURTESY BETHESDA
Bethesda Lutheran Communities is located on 400 acres in Watertown, including almost 50 acres of Rock River waterfront access.
CORRINNE HESS
Bethesda Lutheran Communities plans to transform its campus
14 / BizTimes Milwaukee JUNE 12, 2017
BETHESDA LUTHERAN COMMUNITIES INC. is preparing for a massive overhaul of its Watertown campus, with plans to raze 11 buildings, some more than 100 years old. Once the building demolition is complete the nonprofit, which cares for people with intellectual and developmental disabilities, will have cleared more than 200 acres of its 400-acre property in the hopes of selling the land to a developer. The project comes after Bethesda officials spent more than two years trying to determine the
best use for the buildings, which are no longer occupied. The last resident moved out of the Watertown facilities (usually into nearby group homes) nearly three years ago, and the existing buildings have become obsolete, said Mike Thirtle, president and chief executive officer of Bethesda. Since that time, the facilities have remained relatively unused, but the maintenance costs have continued to increase, Thirtle said. “It costs us $1.4 million to keep the lights, heat and water on at the facility,” Thirtle said. “The
amount of maintenance will only continue to increase for an old building of this size and age.” In the spring, all of the Watertown staff members were relocated to the corporate office building at 600 Hoffmann Drive, which is one of the few buildings on its campus that Bethesda does not plan to tear down. The buildings that made up the residential campus were moved into an efficiency state and Bethesda maintained only the necessary electrical and water systems to support emergency response. “The buildings simply have no future use for Bethesda, and those resources could be focused directly on the delivery of supports and services,” Thirtle said. Before Bethesda’s board of directors voted last month to tear down the buildings and redevelop the land, the organization tried to sell the property. There were more than 20 different discussions with various groups from Milwaukee to Madison, including St. John’s Northwestern Military Academy, real estate developers and government agencies, about buying or leasing the buildings. “There is just no demand for repurposing this type of facility given its size, its age, the availability of other real estate options and the capital investment needed to repurpose the space,” Thirtle said. The decision by Bethesda to raze the aging properties and redevelop the land, which includes 48 acres along the Rock River, will
433 E . M I C H I G A N S T. , M I LW A U K E E ON THE EASTERN EDGE OF DOWNTOWN MILWAUKEE is a five-story eyesore that has been vacant for nearly a decade. Johnson Controls International plc purchased the former Universal Foods Corp. (now Sensient Technologies Corp.) headquarters at 433 E. Michigan St. in 2008 with plans to expand its downtown facility. That never happened.
The future of the nondescript building, is owned by one of the city’s largest employers is unclear. “We have not announced any plans for the building,” said Fraser Engerman, a Johnson Controls spokesperson. The 80,525-square-foot office building was built in 1909. It is assessed by the City of Milwaukee at $1.27 million. n
CGS PREMIER TO DOUBLE SIZE WITH NEW MUSKEGO LOCATION New Berlin-based manufacturer CGS Premier Inc. is planning
to relocate to a new facility TR in Muskego thatOL would be twice the MILWAUK EE ELEC IC TO CORP.
Bethesda Lutheran Communities was founded in 1904 to care for people with intellectual and developmental disabilities.
better position the nonprofit for its future, he said. The organization is already in talks with the city of Watertown about the possibilities this could create for the community, which is
“It costs us $1.4 million to keep the lights, heat and water on at the facility.”
- Mike Thirtle, Besthesda
located halfway between Milwaukee and Madison in Dodge and Jefferson counties on Highway 26. Bethesda was founded in Watertown in 1904. Today, Bethesda’s corporate headquarters remains in Watertown and the organization’s mission stretches across 13 states. Bethesda employs about 3,000 people. Watertown Mayor John David said he has known for a long time this is a good opportunity for Bethesda and, potentially, a de-
veloper. David said he expects to know more about the future of the property in about six months. “We would like some private development that will be quality and add to the tax base and be good for the neighborhood,” David said. “There are possibilities. Bethesda will be making those decisions. They have indicated that they want to work with the city and we want to work with them. I am not sure where they are headed, except they need to get the land cleared.” Bethesda leaders will soon begin creating a comprehensive redevelopment plan. Demolition of the buildings is expected to begin this fall. “We think returning the site to a greenfield will improve the chances of developers taking a new look,” Thirtle said. n
size of its current facility. MILWAUKEE ELECTRIC TOOL CORP. exhibits is making major imCGS Premier, a maker of mobile andnumerous displays, is working provements to its headquarters campus at 13135 Lisbon Road in with HSI Properties LLC of Brookfield on aW. 65,000-square-foot Brookfield. building at the east end of Commerce Center Parkway, east of TheMoorland centerpiece is in thethe construction of a $35 Park. million, four-story, Road Muskego Business The building 200,000-square-foot office building. would be owned by an affiliate of HSI Properties. Other projects include: a 36,000 façade square renovation of the existing CGS currently leases about feet at 5786 S. Westridge 183,000-square-foot building, a 20,000-square-foot Drive in New brick Berlin.headquarters The company is hoping to break ground in expansion the Rapid Innovation Center and aof10,000-square-foot adearlyofJune, said Greg Peterson, president CGS. dition to the annex building on the campus. TheDEVELOPER: improvements to Properties the brick headquarters building will include HSI LLC of Brookfield replacement of its square “wings”feet with steel-framed, glass-roofed canopies. SIZE: 65,000 The Rapid Innovation Center expansion GROUND BREAKING: June 2017will more than double its size and will also include a façade upgrade. n
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BIRD’S EYE VIEW 13135 W. Lisbon Road, Brookfield
STORY COVER
16 / BizTimes Milwaukee JUNE 12, 2017
e r e h t t o g y e p o h t t e h t o t w b Ho wigs’ clim Big
Stanek overcame adversity in male-dominated industry
KAT SCHLEICHER PHOTOGRAPHY
By Molly Dill, staff writer Mary Ellen Stanek has never had a boss who wasn’t male. In fact, she’s often the only woman in the room. But she hasn’t let that stop her. Stanek, one of the top-ranking women at Milwaukee-based Robert W. Baird & Co. Inc., has faced her share of adversity on the way up, but has worked to remain positive and change minds from within the company. “One of the great things about investment management and asset management in particular, is our results are so objectively measured. If you can perform and if you can produce competitive results, it’s hard to ignore whether you’re 27 or 57, male, female, orange hair. “(I use) that as a strength and let my capabilities and my track record speak for itself and to try to not get hardened by that and to remain laser-like focused on what we’re trying to do here, what we’re trying to accomplish. You need to constantly keep pushing and helping open people’s minds.” Finding mentors and sponsors to advocate for her was key, as was their advice and encouragement as she managed her career and family, Stanek said. As chief investment officer at Baird Advisors, president of Baird Funds, and managing director and director of asset management at Robert W. Baird, as well as a member of several corporate and nonprofit boards, Stanek’s plate is full. And that’s the way she likes it. Stanek, 61, gets to work by 6:30 a.m. (an hour later now that her three kids are out of the house) each day and gets things done. “If you’ve had a tough day, I always say get up the next morning and let’s go,” she said. She started coming in early so she could be home to care for her children, and she’s
come to appreciate that quiet time to think and innovate. Stanek has an integrated calendar and brings her “holistic me” to work. She was the second grade room mother and the young CIO at the same time. Not only did Stanek have to convince male colleagues she was capable of handling the workload, but she also had to prove her mettle and leadership capabilities early in her career. She grew up working in the Illinois community bank where her father was president, helping with any tasks she could. That’s where she learned to do whatever it takes to get the job done. Stanek attended Marquette University, and then in 1978 took a job in marketing at Xerox Corp., where she went through the company’s sales and marketing training program. “Looking back on it, it was an absolutely world-class sales and marketing training at the very beginning of my career that has been incredibly helpful and impactful,” she said. Despite that invaluable training, Xerox wasn’t the right fit and Stanek in 1979 joined First Wisconsin Trust Co., launching its money market funds and completing basic analytic and administrative work. Her experience in banking, stellar grades and willingness to do any task set her apart. In addition, Stanek completed a research project on the concept of duration and how it could be applied to the management of bond portfolios, through which she became an expert as First Wisconsin pioneered the technique. In 1983, her boss was hired away by JPMorgan Chase to execute the concept there, and she was selected to be the next CIO at First Wisconsin. biztimes.com / 17
T THE R EY G O H T W HO
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Ugo Nwagbaraocha sees the big picture
KAT SCHLEICHER PHOTOGRAPHY
“First Wisconsin Trust Co. looked around and I had as much experience as anybody with the concept, but I had just turned 27, I had four years of experience, I was pursuing my MBA at night. “My boss…had said to me in the beginning, yes you’re really busy, but you should go get your MBA at night and then the CFA designation. He said to me, ‘There will never be a better time. You need to go do this.’ I look back on that advice and yes, it was juggling a lot of balls, but I was so grateful because he helped position me for when the opportunity came. And it came far earlier than I would have expected or than typically would have happened.” The rest was history. Stanek has led the group that is now Baird Advisors for 34 years. She advises young people to always look for opportunity, since you never know when it’s going to come along and you can’t control when it happens.
By Andrew Weiland, staff writer West Allis-based Diamond Discs International, a supplier of construction tools specializing in diamond-edged cutting blades, core bits and small power tool items, plans to move its headquarters to a larger facility in the city of Milwaukee. For the company’s owner, Ugo Nwagbaraocha, the planned move is about more than just a need for more space. As an African-American business owner who considers himself a “boundary-less visionary,” Nwagbaraocha feels an additional obligation to create job opportunities in the city. The company currently has about a dozen employees and plans to add another 20 to 30 over the next two to three years. “Being able to hire from the city of Milwaukee is one of the things I have been very passionate about for a long time,” Nwagbaraocha said. “When we look at the employment shortages, or the skills gap, or the perception of crime, or the reality of crime, what are things that I can do as a business owner to impact that?”
Nwagbaraocha acquired Diamond Discs International in 2007, after working there for about five years as director of sales. The company was a Metropolitan Milwaukee Association of Commerce Future 50 award winner in 2010 and 2016. When he talks about his “humble success,” Nwagbaraocha is quick to credit his parents, Dr. Victor and Pauline Nwagbaraocha. They immigrated to the United States from Nigeria in the early 1960s, shortly after they were married. They both graduated from the University of Wisconsin-Milwaukee. Victor later received his doctorate from Marquette. He was a professor at Milwaukee Area Technical College for 37 years and was involved in forming numerous community and religious groups. “When my father passed away six years ago, there were so many people that said they never would have achieved success if it was not for my father motivating and encouraging them,” Nwagbaraocha said. “Not only did my
Irgens has built a base for succes s
Stanek
Mentorship and employer flexibility are important to Stanek, and she works to pass down tips from what she learned along the way. “The whole (Marquette) Jesuit philosophy of educating people for others instilled in me was at a very early age, was that this degree and this education wasn’t just about me, it was about what I was going to do with it for others. “Certainly one of the strengths I have is people. I think my people skills, my ability to sort of read situations and see the whole field and be able to bring the best together on the field and bring the best out of people.” Stanek has grown her group over her storied career and now manages $52 billion at Baird Advisors. “I wouldn’t say that I set out to be a top-ranking woman,” Stanek said. “I would say that I have high expectations of myself and when I’m going to do something, I’m going to give it everything I’ve got and I want to do well.” n 18 / BizTimes Milwaukee JUNE 12, 2017
Last spring, as developer Mark Irgens was putting the finishing touches on 833 East, downtown Milwaukee’s first new office tower in more than a decade, he heard BMO Harris Bank was issuing a request for proposal for its own new downtown office tower. Irgens knew at least five other developers were going after the project, so he decided to take a risk. Irgens put forward a proposal that solved two problems for BMO. He would develop a new, 25-story office tower adjacent to BMO’s existing building in downtown Milwaukee and then repurpose the former M&I Bank headquarters building at 770 N. Water St. The idea won Irgens Partners LLC the business, and further secured Irgens’ place as one of the most dominant players in the southeastern Wisconsin commercial real estate market. From The ASQ Center in downtown Milwaukee to GE Healthcare’s offices in Wauwatosa, the 72 projects Irgens and his team have developed since he started the company in 1998 are some of the most recognizable in the area. “When I started the company, I think my goal was much less,” Irgens said recently, sitting in his fourth floor conference room in 833 East. “I had a much more myopic view of the world. But as we continued to succeed, I was able to see a
By Corrinne Hess, staff writer much bigger picture, so I was able to learn along the way and see more opportunities.” Irgens, who recently turned 62, grew up in Wauwatosa. He was an accounting major at the University of Wisconsin-Madison in the 1970s, but when an advanced accounting course stumped him, he dropped the class and needed to replace the five credits. That is how he met one of UW’s legendary professors, Jim Graaskamp, who was teaching an introduction to real estate and urban land economics class. “He was an influencer in my life,” Irgens said. “He was a dynamic speaker and very enthusiastic. He got sick when he was in college and became paralyzed, but made the best of it. There is a whole generation of people who were trained under him who have become entrepreneurs.” Irgens spent the first five years of his career as an appraiser and then a commercial loan officer at a bank. By then it was the early 1980s, and the high interest rates and bankruptcies Irgens saw his clients experiencing became part of a continuing education that stuck with him when he started his own company. Irgens convinced Appleton-based Oscar J. Boldt Construction Co. to start a development arm
KAT SCHLEICHER PHOTOGRAPHY
Nwagbaraocha
parents have their own success, they impact so many other people’s success. If they are able to do that with the sparse resources they had, and I have abundantly more resources available to me, then I have no excuse.” After graduating from Nicolet High School, Nwagbaraocha went to Colorado State University on an academic scholarship. He also hoped to play basketball there, but that didn’t work out and he
eventually transferred to UWM. While in college, Nwagbaraocha worked during the summer, providing security at Summerfest and ethnic festivals. During his last year of college, he started working at a machine shop tooling company, Foremost Industrial Exchange. “It was really my first opportunity to work for a company where there were people making what I thought at the time was very significant money,” Nwagbaraocha said. “To be side-by-side with someone making six figures, I thought, ‘If this guy can do it, why can’t I?” After graduating, Nwagbaraocha moved into a managerial role with the company. He doubled the performance of his division and after a year considered going to law school, but the owner of the company convinced him to stay. He remained with Foremost until the owner retired. After working in the financial consulting and communications industries, Nwagbaraocha was recruited to join Diamond Discs International as director of sales. After about four years, the ownership asked if he was interested in buying the company. “It was what I always wanted to do, to have my own business,” Nwagbaraocha said. To buy the company, Nwagbaraocha sought advice from consultants and received assistance through the Greater Milwaukee Committee’s Initiative for a Competitive Milwaukee. One consultant suggested he meet
with Cory Nettles, managing director of private equity fund Generation Growth Capital Inc. “I thought I was going to have a 10-minute conversation with him,” Nwagbaraocha said. “The first 20 or 30 minutes he was intensely drilling me, finding out about the company and what my aspirations were. But then I remember the next 70 percent of the meeting was, ‘Hey, how can we help you?’” Nettles made some referrals for banks and advice. Nwagbaraocha established a banking relationship with BMO Harris Bank and Curtis Disrud of Winter, Kloman, Moter & Repp S.C. became his accountant. “I tell any business owner, get a great CPA,” Nwagbaraocha said. “He’s worth his weight in gold.” Nwagbaraocha said his wife, Sheila, provided tremendous support and business insight from her experience as a project manager for GE Healthcare. The deal was completed in 2007. It was a rocky start for the new business owner as the Great Recession took hold. The company had to catch up on some payments to vendors, while many of its customers were going bankrupt. “It was baptism by fire,” Nwagbaraocha said. At the time, masonry contractors for residential buildings were the bulk of the company’s business and those firms were failing as the housing market collapsed. But Nwagbaraocha found other customers for
and hire him to lead it, which he did for 15 years before purchasing the assets and more than 35 employees with three partners in 1998, when the Boldt family decided to exit development. The group invested about $65,000 of their own money and borrowed “a bunch of money” to start Irgens Development Partners LLC (now Irgens Partners LLC). “We were very leveraged, so from that standpoint, it was motivating for us to work hard,” Irgens said. One of Irgens’ first projects was with fellow developer William Orenstein. The two partnered to redevelop the former Gimbels building into The ASQ Center in downtown Milwaukee. The project was completed in 2001. “Folks like (Orenstein) and the Boldt (chief financial officer) and president were true gentlemen and really good people to work with, and that is how we like to do our business,” Irgens said. Orenstein died in January 2016. Irgens himself is a gentleman. And reserved. He believes in always being prepared, protecting his reputation and making sure every project has two ways out. During an interview, Irgens quietly refers to himself as “secretly hard driving.” “There are a lot of moving parts (in real estate) and it is hard to get them all lined up to get a project to work,” Irgens said. “The architecture needs to fit the financial model. We want to build grand projects, believe me, but we base our success on our
stakeholders’ success.” Driving around southeastern Wisconsin, Irgens doesn’t have to look far to see his work. He said the biggest thrill is when the buildings are just coming out of the ground. “I usually drive past projects that are under development to see how they are doing,” Irgens said. “Most of the intellectual work has been done prior to putting a shovel into the ground. But when I’m actually seeing a building coming up and starting to take shape, I find that really satisfying.” When asked his favorite project, Irgens doesn’t name a building. Instead, he says it is the business he has grown over the past 19 years. “We have been very fortunate,” Irgens said. “The way I look at is, we didn’t have any grand plan to be the largest office developer (in the area); our plan was really to do the best we could at every individual development and choose the best location. The location and the quality of real estate is really important because then you can weather the ups and downs much better.” Irgens’ current partners are Jacklyn Walsh, Duane Nolde and David Arnold. The company is currently in a legal dispute with two former partners. Walsh has been a co-owner since the beginning. In 2014, she was promoted to president and chief operating officer of the company. Irgens views the company he and his partners
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continued on page 20…
Irgens
started nearly 20 years ago as a first-generation organization that will continue on when he decides he doesn’t want to work as much as he does now –although, with several projects in the pipeline, he doesn’t plan on slowing down anytime soon. “We are trying to build a base, as opposed to growing as fast as we can,” Irgens said. “So it has been fairly gradual. We don’t try to get out in front of our skis too much.” n biztimes.com / 19
T THE R EY G O H T W HO
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Jagdfeld seeks the right answers Aaron Jagdfeld used to come in to Generac Power Systems Inc.’s office on Saturdays to complete work he wasn’t able to get done during the week. An early riser by nature, it allowed him to get in a half day of work and return home. It also just so happened Saturdays were when Generac founder Bob Kern would spend time in the office visiting with employees, getting to know them and asking a lot of questions. “That was his time to kind of walk the building and connect with people outside of the normal craziness of an eight-to-five day full of meetings,” Jagdfeld said. He says those Saturdays helped him get to know Kern and learn about the business. Years later, Jagdfeld is running the company Kern founded and he continues to apply lessons learned from those Saturday morning conversations to leading the company, especially when it comes to asking questions. He said people sometimes assume a chief executive officer won’t be asking questions because they “just know” or feel like someone in their positon shouldn’t be asking. “That’s never bothered me,” Jagdfeld said. “I’d rather engage somebody and get the right answer.” When Jagdfeld first joined Waukesha-based Generac in 1994, he wasn’t sure exactly how long he would stay and acknowledged he saw the opportunity as “more of a stepping stone.” Jagdfeld grew up in Wisconsin and attended the University of Wisconsin-Whitewater, in part because it allowed him to continue to run track. The school didn’t have an engineering program, so Jagdfeld opted for accounting, since it also incorporated math. After graduating, he took a job in the Milwaukee office of Deloitte & Touche LLP and had Generac as a client. “Growing up, I was always one of those kids
…continued from page 19 the company’s diamond-edged cutting blades. The housing market was in the tank, but homeowners who were able to upgrade decided to remodel instead of move. “What did that mean? It meant people were investing in kitchens and that meant marble and granite countertops,” Nwagbaraocha said. “Another big thing was landscaping with hard decks, outdoor patio decks in stone. Stone that needed to be cut.” Those customers helped to turn Diamond Discs around. Then Nwagbaraocha started to pay attention to the increase in infrastructure projects across the country, in part because of federal 20 / BizTimes Milwaukee JUNE 12, 2017
KAT SCHLEICHER PHOTOGRAPHY
By Arthur Thomas, staff writer
Jagdfeld
that was very mechanically inclined. I was always a kid who was taking stuff apart, trying to figure out how it worked, driving my parents nuts,” Jagdfeld said. He expected Generac would be one stop on an accounting career path that would take him from company to company as he built his skillset. Instead, Jagdfeld found that an interest in the products, manufacturing and the business helped propel his career. “I’ve always been a big believer that if you work hard, you work smart, you do the right thing, that good things will happen,” he said. “Sometimes they don’t happen as quickly as you want, sometimes they don’t happen exactly the way you want, but I think in the end, they do happen.” It also didn’t hurt that Generac was growing and expanding, build-
stimulus funding. But the company had to increase its inventory to serve the large construction firms that did massive road construction and bridge building projects. “That became an industry that changed us around,” Nwagbaraocha said. “The companies we’re doing business with now are a lot larger than those that we were doing business with 10 years ago.” Meanwhile, the company kept in contact with the customers that were struggling to pay their bills during the recession. Some of them have recovered now that the construction industry is booming, and have remained loyal to Diamond Discs.
ing toward its eventual sale to CCMP Capital Advisors LP and other investors in 2006. “A lot of it was because we were growing. I think when companies grow, it presents all kinds of different opportunities,” Jagdfeld said. A larger company might limit the opportunities for people to stretch themselves into new, more challenging roles, but at Generac, Jagdfeld went from accountant to corporate controller to chief financial officer, and finally, to president and chief executive officer before his 40th birthday. “You always have this feeling, this nagging sense in the back of your mind like ‘Am I ready for this?’” Jagdfeld said of taking on a new role. “You just have to have the right attitude, the right confidence level and you also have to ask a lot of questions.” He sees two types of employees generally. One group that’s focused on getting work done and asking what else they can do to contribute. Another group is focused on themselves and on bolstering their own career. “There’s an appropriate time to have that,” Jagdfeld said. “To walk into your boss’ office with that only on your mind, I think, is wrong.” He added it is important for managers to understand, appreciate and respect that not everyone within a company is going to want to understand the entire business. Instead, some employees may just focus on doing their job well. “They’re a very important part of the base of the company,” he said, adding the role of leaders is to make opportunities available to those who want them. “There’s this prevailing wind that companies should provide all this opportunity to employees on a silver platter,” Jagdfeld said. “It’s up to you. If you want to take that (opportunity) and grab the next rung on the ladder, that’s up to you; don’t expect me to put that rung in front of you.” When it comes to reaching the top positions in a company, Jagdfeld returned to what he feels helped him advance at Generac and has kept him with the company for more than two decades. “When it’s hard for you to connect with the product, I think it’s really hard for you to go and take that really high-level role in a company,” he said. “You have to have a genuine interest in the product.” n
“When the rough times happen, that not only exposes what your real character is, it also is an opportunity for success,” Nwagbaraocha said. “Some of these guys that made it through the rough times have exploded, and those guys they remembered us…and now they are very loyal to us. If we were always looking at things just transactional, that would never happen. Being visionary, not being myopic, not being transactional, not looking at things just as a commodity, looking at that relationship, building that reputation, these things are huge and really differentiate us and I think are some of the reasons we have had some of the humble success that we’ve had over the years.” n
Special Report BUSINESS IN WAUKESHA COUNTY
Waukesha County manufacturers navigate tightening job market By Arthur Thomas, staff writer IF YOU LOOKED only at the job figures, it would seem Waukesha County manufacturing was in a slump for much of 2016. The county’s manufacturing industry averaged a year-overyear decline in employment of more than 2.6 percent, even as private sector employment was up more than 1.5 percent on average. The Waukesha County picture is an exaggerated version of trends visible at the state level, and more recent data suggests the industry has rebounded to begin adding jobs again. But asking why employment in an industry that makes up about 20 percent of the county’s jobs was down as much as 3 percent at one point draws a number of different answers.
For starters, manufacturing itself faced challenges last year, especially for companies in heavy industries or those tied to oil and gas. Many business leaders also point to the presidential election, suggesting uncertainty about the direction of policy leads people and companies to hold on to their money. Don Lavrenz, president of Sussex-based control manufacturing and system integration firm The Industrial Companies Inc., said after several years of growth, his firm saw a decline last year, which he attributed to factors like the election, oil and gas weakness, and a strong dollar.
Tailored Label employee Jason Clark prints wristbands at the company’s Menomonee Falls facility.
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“Reinhart’s attorneys don’t just practice law here; they are deeply committed to the success of our business community—and it shows.” Stephen Ziegler, Chairman, Inpro Corporation
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“I think it was just a culmination of circumstances that made the situation worse,” Lavrenz said. Initial unemployment claims were up almost 2.7 percent across all industries in Waukesha County, but remained below 2014 levels. Statewide, initial claims were down 2.1 percent. There also were six mass layoff notices filed with the state totaling 571 jobs, up from three notices for 176 jobs in 2015. Harley-Davidson Inc. and Quad/Graphics Inc., two major manufacturing employers in the county, both faced challenges from industry trends. But Harley’s Pilgrim Road plant was spared from a round of layoffs in August, and Quad’s consolidation efforts have generally brought work to Wisconsin. Quad chief executive officer Joel Quadracci has spoken often about the challenges of finding employees to fill open positions. Lavrenz said despite the dip in sales, The Industrial Companies had its best year ever for new customer acquisition, which he said might be the result of companies struggling to find engineering staff. An increasingly tight job market is also among the explanations for the dip in job numbers. Unemployment rates have been on a steady decline – Waukesha County was at 2.6
22 / BizTimes Milwaukee JUNE 12, 2017
percent in April and has been below 4 percent since mid-2015 – and older workers are retiring, leaving companies complaining that it’s difficult to find workers. With a dwindling pool of talent available, many companies are instead turning to automation to grow their business and keep up with demand. “The amount of automation that people are using now, compared to plant tours that I did 10 years ago, it’s just night and day,” said Tim Casey, director of economic development at the Waukesha County Center for Growth. When the Waukesha County Business Alliance asked its Manufacturing Executive Council members for their insights, the response was that tough hiring conditions mean employment is flat or down, even as production and sales grow. “Job growth figures aren’t always the most accurate measure of that (growth),” said Amanda Payne, vice president of public policy at WCBA. “Companies are investing in technology and finding ways to be more innovative using automation, because the labor market is so tight that there simply aren’t enough people.” Jeri Meyers, senior regional vice president at Brookfield-based QPS Employment Group Inc., agreed the labor market is getting tighter. She said the most drastic change has been the increase in pay rates, particularly over the past
year. In the past, companies looking to make themselves more attractive would increase hourly pay by a quarter per hour. “Now what has happened is it’s jumping by a dollar,” Meyers said. Waukesha County manufacturing wages, already some of the highest in the state, have averaged a 2.6 percent year-over-year increase since the start of 2015, compared to 0.9 percent statewide and 0.2 percent in Milwaukee County. Meyers said QPS regularly charts where jobs are available and from where people are traveling to fill those jobs. The farther west a company is located, the harder it is to staff entry-level candidates, she said. Finding employees may be one challenge, but keeping current employees is also increasingly important. “Right now, it’s a candidate market where they could leave a job and find a job the next day,” she said. Among other things, employee retention requires employers to greet employees at the start of a shift, know and use employee names, and hold cookouts or raffles for staff, Meyers said, adding it sometimes requires education to make clients understand what they have to do to retain staff. “I’m sure there’s plenty of companies who
“Our business is growing at a pace faster than the rate at which we can find skilled manufacturing employees.” – Brian Sprinkman W.M. Sprinkman Corp.
never had meetings about how to keep people happy on the floor,” she said. Even with higher wages and a focus on retention, some employers still find it tough to fill open positions, and Meyers agreed those companies are especially forced to turn to automation. “People are automating in whatever instances they can,” Payne said, noting some have specialized processes that don’t lend themselves to automation, but companies will find portions of production where they can use more technology. Brian Sprinkman, president and chief executive officer at Waukesha-based brewery tank and equipment maker W.M. Sprinkman Corp.,
said his company is researching automation options, but ideally wants to use a combination of technology and an increased workforce. “Our business is growing at a pace faster than the rate at which we can find skilled manufacturing employees,” he said, noting stainless steel sanitary welding is a bit of a niche skill set. “We could afford to bring on several workers right now, if the right candidates presented themselves.” Companies are increasingly finding they need to bring on people who lack the skills they’re looking for and use internal training to help them acquire the right skills. “We’re more than happy to hire and train,” said Michael Graf, president of New Berlinbased commercial printer Letterhead Press Inc. Jeff Kerlin, president and chief executive officer at Menomonee Falls-based Tailored Label Products Inc., said his company uses that formula, looking for people who will be a cultural fit and then exposing them to a variety of job functions so both the employee and company get an idea of where the person will fit best. “Not rocket science, but this process is actually working pretty well for us,” Kerlin said, adding openings are posted internally first and the company searches its organizational chart for opportunities to promote from within.
He said many new employees come to the company through a referral by a current employee. While the challenge of finding new employees hasn’t necessarily reduced the overall headcount at Tailored Label, Kerlin said it has delayed making desired additions. “It continues to be a difficult proposition to grow our workforce, but that’s nothing new,” Graf said. He said “a good share” of Letterhead’s growth over the past 15 years has come from automation. “We’re always trying to automate more; we just have to,” Graf said. Tailored Label has added more technology to be cost effective and offer new capabilities to customers, Kerlin said. “As a side benefit, we’re finding that this new technology is very appealing to the younger employees,” he added, noting even those who would be considered “non-skilled” take to it “almost naturally.” “This new technology often requires far less operator ‘finesse’ than the former analog technology that takes an operator years to become fully proficient with.” Automation and new technology don’t always mean lost jobs. Meyers said many clients find they’re able to take on more business when they automate and headcounts stay the same. n
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Special Report BUSINESS IN WAUKESHA COUNTY
Changing viewpoint leads Farrow to sign on as M7 co-chair By Arthur Thomas, staff writer IT TOOK A COUPLE TRIES to convince Paul Farrow to become a co-chair of the Milwaukee 7. The Waukesha County Economic Development Corp. had shut down not long before he was elected and creating a new entity was a top priority for him. So when Gale Klappa asked him to take on the M7 role last year, Farrow declined, citing the need to focus on getting what became the Waukesha County Center for Growth off the ground. But he also questioned whether the M7 was a worthwhile investment for Waukesha County, which contributes $12,500 to the organization each year, and left open the possibility of pursuing other economic development alternatives. “That was really the question: What does it do for us?” Farrow said, noting even the visual of the group’s co-chairs, leaders of two Milwaukee-based companies and the Milwaukee mayor, made the M7 seem Milwaukee-centric. “The other counties were like, ‘Where’s our voice?’” Fast forward a year and the Center for Growth has been established and now has leadership from Tim Casey and the Waukesha County Business Alliance.
Paul Farrow, center, and Gale Klappa look on as Brookfield Mayor Steve Ponto speaks at the Milwaukee Tool groundbreaking in 2016. 24 / BizTimes Milwaukee JUNE 12, 2017
Farrow said his thinking about M7 has changed over the past year, and he also recognizes he can either criticize from the outside or be involved to make a change. So when Klappa asked him a second time if he would be an M7 co-chair, Farrow was much more receptive. He still spent more than a month gathering input from officials in other counties before accepting. One of the lessons from those conversations was just how interconnected the seven counties are. At least 10 percent of the workforce in each of the seven counties comes from other M7 counties, according to U.S. Census Bureau estimates. “That’s what we’ve got to continue to remember, the seven county region is interconnected in so many ways beyond the roads,” Farrow said. Waukesha County is among the most connected to the other counties, with more than 37 percent of its workers living in one of the other six counties, including more than 25 percent coming from Milwaukee County. Milwaukee Mayor Tom Barrett said he was “very pleased” Farrow joined M7 as a co-chair and was happy to have him on the team. “I think he brings a wealth of experience from Waukesha County and that’s important to what we’re trying to do in Milwaukee 7, which is grow the entire region,” Barrett said. Just because the counties are interconnected, doesn’t mean Farrow isn’t competitive. He came into office with the goal of making Waukesha County the epicenter for economic growth in the region and said he wants the county to be the No. 1 contributor to the state’s GDP. “You can be passionate, and I am, about
Waukesha County,” he said, noting if Waukesha grows to be the largest portion of state GDP, there will be benefits for the region and if nothing else, the county can push Milwaukee to greater heights. Barrett said he believes everyone is on the same team and growth in one area can benefit the region as a whole. “I think we all recognize we are better off having the jobs in southeastern Wisconsin,” he said. One of the key pieces in achieving Farrow’s goals is the success of the Waukesha County Center for Growth. Since it was established last year, the organization has brought on staff to work with small businesses and on workforce development. Farrow said the center is now beginning to work with banks in the county on establishing a revolving loan fund. Farrow pointed out all of the counties in the M7 have their own economic development organizations. The county EDOs function like an intranet, he said, working within the county’s borders to help businesses grow and solve their challenges. M7 should function more like the internet, allowing the sharing of best practices across county lines and bringing the region to the rest of the world. “All the counties have turnkey properties … I think the biggest issue that we’re still facing is the workforce,” Farrow said, suggesting M7 can take the lead in sending the message to companies outside the region that southeastern Wisconsin has a ready workforce. “We should be able to solve the problem working in collaboration with all these entities.” Farrow also said there is work M7 can do that goes beyond recruiting new companies to the region, whether it’s communicating information via its website or making certain pieces of data available. “It’s not always going to be a brand new company,” he said. He said he’d also like to see more specific yearly numbers from M7, noting information is often presented in cumulative fashion. “They’re looking at year-to-year growth capability,” Farrow said of local-level EDOs. Casey said he’s happy to have a voice for Waukesha County at the top of Milwaukee 7, but added he’s had a good working relationship with the organization. In particular he highlighted M7’s work on the expansion of Milwaukee Tool. Casey said the Center for Growth meets regularly with M7 and Wisconsin Economic Development Corp. staff. “You always need to be working on communication and collaboration,” he said. n
PRESENT
# 1 B U S I N E S S of the year: O w n e r s E d g e I n c .
Lisa Reardon, president, CEO and chairman of OwnersEdge Inc., and the OwnersEdge team.
As a Waukesha County-based business, Spring Bank is thrilled to have the opportunity to help the Waukesha County Business Alliance recognize southeastern Wisconsin’s Top 10 Businesses. It’s no surprise that our region’s most successful companies are based or have a location in Waukesha County. When we founded our Brookfield community bank in 2008, we could not think of a better location to start Wisconsin’s newest, and still to this day, youngest bank. In less than nine years we’ve made nearly $210 million in commercial loans to privately held businesses. Nearly 40 percent of our lending relationships are in Waukesha County. Our growth strategy is simple. Experienced bankers provide the access and personal attention our customers deserve. Because, like the businesses honored today, we know growth is about much more than metrics. For Spring Bank, growth is about relationships and respect. Come see how we’ve redefined business and personal banking.
Vrakas CPAs + Advisors is proud to sponsor the 2017 Top 10 Businesses of the Year awards. We congratulate all of this year’s winners. Your financial growth, commitment to providing exceptional service and community outreach efforts are something to be proud of. You are an asset to the southeastern Wisconsin community and we applaud you for your dedication to your industry and your community. At Vrakas, our professionals are focused on developing relationships with clients, understanding their goals and offering practical solutions that contribute to their success. As a strategic partner to Wisconsin businesses, we are well aware of the hard work and commitment required to become successful in a competitive marketplace. Congratulations! We look forward to following your continued success! Jim Holmes, managing shareholder, Vrakas CPAs + Advisors
biztimes.com / 25
T O P 1 0 award recipient
Putting employees first Employees are the lifeblood of a business. This year’s Top 10 Businesses of the Year emphasized time and again the importance of cherishing and rewarding their workforce. The annual Top 10 Businesses of the Year Awards, presented by the Waukesha County Business Alliance in partnership with BizTimes Media, honor 10 outstanding businesses in southeastern Wisconsin. Winners are selected
Table of Contents by an independent panel of judges based upon financial growth, customer focus, a history of outstanding employee relations and a commitment to the community. They were honored at the awards luncheon and featured in the print and online editions of BizTimes Milwaukee. The #1 Business of the Year was announced at the luncheon, held June 9 at the Country Springs Hotel in Waukesha.
#1 Business of the Year OwnersEdge . . . . . . . . . . . . . . . . . . . . . . 28
The other Top 10 Businesses of the Year are: Best Version Media . . . . . . . . . . . . . . . . . 31 Fairchild Equipment . . . . . . . . . . . . . . . . 32 Gross Automation. . . . . . . . . . . . . . . . . . 33 L.H. Krueger and Son . . . . . . . . . . . . . . . 34 Lakeland Supply . . . . . . . . . . . . . . . . . . . 35 Metal-Era. . . . . . . . . . . . . . . . . . . . . . . . . 36 Prairie Financial Group . . . . . . . . . . . . . . 37 Ruekert & Mielke. . . . . . . . . . . . . . . . . . . 38 Winter, Kloman, Moter & Repp S.C.. . . . 39
Profiles compiled Alysha Schertz Photos by Paul Gaertner of White Dog Photography
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T O P 1 0 award recipient
OwnersEdge Inc. Brookfield-based OwnersEdge Inc., a 100 percent employee-owned holding company, is the #1 Business of the Year in the 2017 Top 10 Businesses of the Year awards program, presented by the Waukesha County Business Alliance in partnership with BizTimes Media. The company had a record-setting year in 2016. It completed the acquisition of Green Bay-based companies Baycom Inc. and TourGuide Solutions. The two join CC&N and NEXT Electric to complete the portfolio of OwnersEdge companies. The acquisition not only diversified OwnersEdge’s product line, but also grew the company’s market footprint in the state. “The company is structured so all four businesses have their own branding and culture, but each business supports the OwnersEdge
# 1 B U S I N E S S of the year core values,” said Christine Adee, vice president of finance. The core values include: embracing the employee stock ownership plan; a focus on the benefit of many, not the few; engaging diversity in terms of individuals and revenue streams; and collaborative communication. OwnersEdge consolidates information technology, finance and human resources at the holding company level. It gives the portfolio companies the complete ability to focus primarily on their business, Adee said. Baycom is a leading provider of mission-critical voice, mobile data and video solutions for public safety and commercial clients. TourGuide Solutions provides wireless tour guide and conferencing equipment to manufacturing companies, museums and attractions.
Lisa Reardon, president, CEO and chairman of OwnersEdge Inc.
The two companies join CC&N, a wired and wireless network solutions provider, and NEXT Electric, an electrical contractor. In addition to its facilities in southeastern Wisconsin, Own-
3325 GATEWAY ROAD, BROOKFIELD OWNERSEDGEINC.COM FOUNDED: 1985 INDUSTRY: COMMUNICATION SOLUTIONS EMPLOYEES: 312 2016 ANNUAL REVENUE: $65.9 MILLION
Congratulations! from the strategic partners behind
OwnersEdge
Congratulations on your Top 10 award! We’re proud to be your partner.
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T O P 1 0 award recipient
ersEdge has facilities in Menasha and Green Bay. “Community involvement is very important to us,” Adee said. “With the acquisition of Baycom, we’re now directly involved in the public safety side of our communities. We want to know we’re making a difference, both through our work and by volunteering and giving back.” Each year, a committee of employee representatives from each portfolio company selects a charity and hosts activities throughout the year to support that charity, Adee said. Last year, the company collected more than $2,000 for the Humane Animal Welfare Society in Waukesha and the Elmbrook Humane Society in Brookfield. In the past, OwnersEdge has also supported Waukesha’s Hope Center, Interfaith Waukesha and several veterans’ groups.
The OwnersEdge team.
In 1995, CC&N formed the partial ESOP. Three years later, a 100 percent ESOP was established and in 2015, OwnersEdge was established to help increase the portfolio, expand the ESOP model and increase the value of the ESOP shares. Each year, the value of the stock
is established and reflected in each employee’s participant account. For the past 11 years, the value of OwnersEdge ESOP shares has risen steadily. “It gives everybody a sense of ownership,” Adee said. “They come to work, make decisions every day, interact with customers
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and know they are impacting the bottom line and impacting their retirement.” OwnersEdge has continued focusing on strategic acquisitions of diversified businesses throughout the Midwest, and plans to add eight additional companies to its portfolio by 2023, Adee said.
T O P 1 0 award recipient
Best Version Media LLC For the past three years, Brookfield-based Best Version Media has maintained a 380 percent growth rate. Since 2015, the company has grown its revenue 182 percent and its employee count nearly 149 percent. Best Version Media is a worldwide publishing company that began in 2007 with five metropolitan Milwaukee publications. Today, Best Version has nearly 500 community-oriented publications throughout the world, including in all 50 states and all Canadian provinces. They serve as communication tools for neighborhoods, homeowners associations and businesses. According to Dave Durand, chief executive officer, the company has added 203 magazines and increased readership levels by more than 1.5 million since January 2016.
More than anything, Best Version credits its success to the employees who work at the company, Durand said. Best Version Media provides employees unlimited vacation time, flexible scheduling, health care coverage, and also offers an onsite fitness center at its corporate headquarters. The vacation policy allows fulltime employees to take as much paid time off as they need in order to recharge or spend time with family, as long as they meet deadlines and produce results, Durand said. The policy allows employees to work from remote locations, and start and end work at a time that’s convenient for them. Best Version employs 70 fulltime employees at its Brookfield headquarters, and also contracts
Congratulations! from the strategic partners behind
Best Version Media Congratulations Best Version Media! We look forward to your ongoing success. CliftonLarsonAllen
Best Version Media CEO Dave Durand
with more than 1,500 employees across the world to produce its magazines. Worldwide, Best Version boasts a readership of more than 4.5 million people. Locally, Best Version produces publications for Brookfield, Whitefish Bay, Bayside, River Hills, Pewaukee, Delafield, Waukesha, Elm Grove, Muskego and others.
19335 JANACEK COURT, BROOKFIELD BESTVERSIONMEDIA.COM FOUNDED: 2007 INDUSTRY: PRINT MEDIA EMPLOYEES: 70 2016 ANNUAL REVENUE: NOT DISCLOSED
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T O P 1 0 award recipient
Fairchild Equipment Inc. Two years ago, Green Baybased Fairchild Equipment Inc. acquired a company in Menomonee Falls. Since that time, the company has focused on southeastern Wisconsin as its primary area of growth. It has increased its employee count in the region by 55 percent, and has experienced revenue growth of more than 110 percent in the same two-year period. The company provides warehouse equipment, including racks and rack systems, forklifts, forklift parts, and certified training and maintenance. “When we entered the southeastern Wisconsin market through acquisition, the business was not really performing well. We saw a huge opportunity for growth,” said Van Clarkson, president.
Fairchild has grown through several strategic acquisitions, but is also focused on organic growth through a strong commitment to customer service. “We pride ourselves on taking care of the customers no matter what,” Clarkson said. “But equally important is creating a family-oriented culture throughout the company.” Fairchild’s extensive training process assures employees are aligned with the vision and commitment of the company. It’s expensive, but Fairchild receives a return on its investment in employees of more than three times, Clarkson said. “We have fun, we celebrate wins, and we really thrive on friendly competition,” Clarkson said. In addition to its two facilities
Make your challenge our challenge...
Fairchild Equipment team members, including president Van Clarkson (second from left).
in Menomonee Falls, Fairchild has locations in Green Bay, Beloit, Racine, Marinette, Stevens Point, and two facilities near the Twin Cities. Clarkson expects continued organic and strategic growth over the next few years. Fairchild will add at least 10 more employees to its Menomonee Falls location before the end of the year, he said.
N52 W13821 NORTHPARK DRIVE, MENOMONEE FALLS FAIRCHILDEQUIPMENT.COM FOUNDED: 1985 INDUSTRY: MATERIALS HANDLING AND DISTRIBUTION EMPLOYEES: 62 (SOUTHEASTERN WI) 2016 ANNUAL REVENUE: $25 MILLION (SOUTHEASTERN WI)
Congratulations! from the strategic partners behind
Fairchild Equipment
Hearty congratulations to Fairchild Equipment on this well-deserved award!
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T O P 1 0 award recipient
Gross Automation LLC Brookfield-based Gross Automation LLC recently celebrated 25 years in business, and has since been on a mission to adapt to changing economic and political landscapes, emerging technologies and an ever-evolving workforce. In the past year, Gross Automation has added employees to its global sales team, outside sales team and value-add production team while entering new markets, including maritime, aerospace and transportation. In the past 18 months, the company has implemented and completed new training programs for its employees in Entrepreneurial Operating System Traction Management, Scale Up Milwaukee Scalerator 3 and Wisconsin Economic Development Corp.’s ExporTech that will allow it to
adapt to the changing work environment and encourage continued expansion. Employees at Gross Automation are “required” to keep a sense of humor and maintain the fun by participating in quirky holiday celebrations like Squirrel Appreciation Day, Pi Day, and birthday and anniversary luncheons. “Happy employees are productive employees – that’s a basic tenet of business,” said David Stauff, sales and marketing manager. “We have frequent in-house gatherings where employees from different departments get to know each other, which in turn creates a bond where they want to help each other succeed. We also encourage our managers to have off-site outings with their teams to help the teams understand how to best
Gross Automation team members, including owner Robert Gross, center.
use everyone’s particular strengths. Non-business activities like these bring out different dimensions in people that you would not find while in the office.” The company has installed a Customer Experience Center equipped with six flat screen TVs, a smart board, remote Skype ability and seating for 20, along
3680 N. 126TH ST., BROOKFIELD GROSSAUTOMATION.COM FOUNDED: 1986 INDUSTRY: MANUFACTURING WHOLESALE EMPLOYEES: 26 2016 ANNUAL REVENUE: NOT DISCLOSED
with a pool table, shuffleboard and pingpong.
Congratulations! from the strategic partners behind
Gross Automation Institutional – HAWS
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T O P 1 0 award recipient
L.H. Krueger and Son Inc. Waukesha-based L.H. Krueger and Son Inc. started in 1981 as a one-person new construction residential roofing business. In 2012, the second generation took majority control of the company, and has since seen sales increase steadily year-over-year. “The Great Recession had a large impact on the housing industry and we were not immune to its effects. We saw our annual sales drop in half, and had to implement temporary pay cuts and other companywide cutbacks,” said Leah Krueger-Bitar, chief executive officer of the company. “We’ve since reinstated all the pay cuts and been able to give companywide raises.” Krueger-Bitar credits L.H. Krueger’s success to its employees. The employees are part of
the family, too, and the company prides itself on providing its employees with the tools and opportunity to improve their lives and the lives of their family members and the community, she said. “Having a great place to live is not just about the community, but also the roof over one’s head,” she said. L.H. Krueger has donated labor and materials for Operation Finally Home, a program dedicated to building homes for ill or injured veterans, surviving spouses and their families, and also recently provided a roof replacement for the Women’s Center in Waukesha. “We enjoy using our knowledge and resources to help in a multitude of ways to make a positive impact,” Krueger-Bitar said. “It is very rewarding to see firsthand
Congratulations to our
TOP 10 BUSINESS PARTNERS
Leah Krueger-Bitar, CEO and Ryan Krueger, COO, co-owners of L.H. Krueger and Son Inc.
the direct results of our efforts within the community.”
1401 PEARL ST., WAUKESHA LHKRUEGERANDSON.COM FOUNDED: 1981 INDUSTRY: BUILDING AND CONSTRUCTION EMPLOYEES: 39 2016 ANNUAL REVENUE: $4.5 MILLION
Congratulations! from the strategic partners behind
L.H. Krueger and Son Inc.
We are proud to recognize all of this year’s Top 10 winners including our clients: · L.H. Krueger and Son, Inc. · OwnersEdge, Inc. Our integrated team of experienced banking,
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T O P 1 0 award recipient
Lakeland Supply Inc. In 2016, Pewaukee-based Lakeland Supply Inc. experienced the best sales year in the company’s 34-year history. It had 265 percent growth in net profit and its tool department repaired 30 percent more tools than the prior year. In short, the company is growing quickly. In February, Lakeland purchased 9 acres of land for a new 100,000-square-foot headquarters. The new facility will increase the company’s office space from 6,000 to 16,000 square feet and will more than double its existing warehouse space, from 33,000 to 68,000 square feet. Lakeland has been providing packaging and janitorial industrial supplies and tool repair for companies throughout the U.S. for more than 30 years.
This year, seven employees at Lakeland celebrated more than 20 years with the company. Three others celebrated 19 years and six more have served the company for more than 10 years. Long-term loyalty to the company is a testament to the culture created within. Lakeland prides itself on having fun while being productive and regularly hosts annual events like chili cook offs, holiday luncheons, a summer picnic, dress up parties, bocce ball tournaments and cookouts. Its commitment to service extends to the community, as well. Lakeland Supply donates 20 percent of its profits to nonprofit organizations in the community. Last year, Lakeland sponsored two families in need through the Christmas Clearing Council of
The Lakeland Supply team.
N8 W22380 JOHNSON DRIVE, WAUKESHA LAKELANDSUPPLY.COM FOUNDED: 1982 INDUSTRY: MANUFACTURING WHOLESALE EMPLOYEES: 35 2016 ANNUAL REVENUE: NOT DISCLOSED
Waukesha County, donated gifts to patients at Rogers Memorial Hospital, and the company regularly supports several churches, youth organizations and other programs in the community.
Congratulations! from the strategic partners behind PRESENT
Lakeland Supply Inc.
ORDER YOUR REPRINTS!
# 1 B U S I N E S S of the year: O w n e r s E d g e I n c .
Lisa Reardon, president, CEO and chairman of OwnersEdge Inc., and the OwnersEdge team.
As a Waukesha County-based business, Spring Bank is thrilled to have the opportunity to help the Waukesha County Business Alliance recognize southeastern Wisconsin’s Top 10 Businesses. It’s no surprise that our region’s most successful companies are based or have a location in Waukesha County.
Congratulations on another Top 10 Award Lakeland Supply! Wishing you continued success!
When we founded our Brookfield community bank in 2008, we could not think of a better location to start Wisconsin’s newest, and still to this day, youngest bank. In less than nine years we’ve made nearly $210 million in commercial loans to privately held businesses. Nearly 40 percent of our lending relationships are in Waukesha County. Our growth strategy is simple. Experienced bankers provide the access and personal attention our customers deserve. Because, like the businesses honored today, we know growth is about much more than metrics. For Spring Bank, growth is about relationships and respect. Come see how we’ve redefined business and personal banking.
At Vrakas, our professionals are focused on developing relationships with clients, understanding their goals and offering practical solutions that contribute to their success. As a strategic partner to Wisconsin businesses, we are well aware of the hard work and commitment required to become successful in a competitive marketplace. Congratulations! We look forward to following your continued success! Jim Holmes, managing shareholder, Vrakas CPAs + Advisors
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25-39 JUN 12 WCBA Top 10.indd 25
DI VER SI FI ED I NS URANCE S OL UT IO NS
Vrakas CPAs + Advisors is proud to sponsor the 2017 Top 10 Businesses of the Year awards. We congratulate all of this year’s winners. Your financial growth, commitment to providing exceptional service and community outreach efforts are something to be proud of. You are an asset to the southeastern Wisconsin community and we applaud you for your dedication to your industry and your community.
6/6/17 4:11 PM
Awards, cover stories, special reports, advertisements, feature stories, whatever your interests may be. We’ll provide reprints of any published material.
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T O P 1 0 award recipient
Metal-Era Inc. Tony Mallinger, president and chief executive officer of Waukesha-based Metal-Era Inc., knows the value of sustained growth. The company will finish a 26,000-square-foot expansion to its Waukesha headquarters by the end of the year, and has achieved an average of 11 percent growth in top line revenue each year for the past eight years. In addition, Metal-Era has increased its employee count by more than 60 percent in the past four years. “Last year, we realized we needed a longer term outlook,” Mallinger said. “Instead of focusing on operational-type plans, we began a multi-year strategic plan that would carry us to 2020.” The goal, according to Mallinger, was to hit $50 million in
sales by the year 2020. “That kind of goal entails a lot,” he said. “Our focus now is on how to become more efficient, more productive and how to make Metal-Era a better company as a whole and just a better place to work.” Part of that plan includes the expansion of the company’s Waukesha campus, but it also involves a renewed focus on employee wellness, training and development. The project also includes new employee spaces, new break rooms, new locker rooms, new offices and a complete remodel and update of office equipment and cubicles. “Our goal is to really improve as a company, and we take feedback very seriously,” Mallinger
The Metal-Era team.
said. “We recently established a culture committee that asks employees how we can improve and takes steps to really act on those ideas. We want our employees to know we care and are listening.”
1600 AIRPORT ROAD, WAUKESHA METALERA.COM FOUNDED: 1980 EMPLOYEES: 137 2016 ANNUAL REVENUE: $36.7 MILLION
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T O P 1 0 award recipient
Prairie Financial Group Victor Schultz joined Prairie Financial Group as senior vice president and head of personal trust in 2013, after serving in a similar role at BMO Harris Bank. At that time, the company managed almost $300 million in assets. Today, Prairie manages more than $500 million in assets and continues to grow at a steady pace. And Schultz is now president and chief fiduciary officer. “It’s an exciting time to be a part of an organization like this,” Schultz said. “We’ve been able to distinguish ourselves in the marketplace by offering new services, greater flexibility and technical expertise for our clients.” Prairie Financial Group is the wealth management division of Waukesha State Bank, an independent financial institution that
has been a part of the Waukesha community for nearly 75 years. “Our business line has been around for about 45 years, and the connection between (Prairie Financial and Waukesha State Bank) provides a really strong element for Waukesha County,” Schultz said. Prairie holds the same guiding principles as Waukesha State Bank founder Carl Taylor, who had a passion for people and exceptional customer service, Schultz said. The focus has always been to serve the community and provide for employees. Employees regularly volunteer and serve the Waukesha County nonprofit community. They serve on 13 different boards and volunteered more than 1,100 hours with 31 organizations last year.
GIVING GUIDE 2018 EDITION
Reserve your space in the 2018 Giving Guide
The Prairie Financial Group team.
Prairie gives back to its employees, too. In 2016, it dedicated more than $8,000 to training and education of its employees, and is committed to fostering an environment that promotes constant growth and development.
1227 CORPORATE CENTER DRIVE, OCONOMOWOC PRAIRIEWEALTH.COM FOUNDED: 1972 INDUSTRY: FINANCIAL SERVICES EMPLOYEES: 18 2016 ANNUAL REVENUE: $3.2 MILLION
We are honored to be named a top 10 business of the Year. thank You to our clients and emploYees for contributing to our success, and congratulations to all the top 10 Winners!
Take advantage of the opportunity for your organization to be seen by the Region’s Business and Philanthropic Leaders all year long.
Publication Date: November 13, 2017
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Prairie Financial Group, a division of Waukesha State Bank, is ready to help brighten your financial future. We offer a full range of customized solutions and deliver an experience that is transparent, engaging and driven by results. Backed by more than 40 years of fiduciary expertise built on trust, personal service and generational relationship, we can help you with: Retirement Plans | Corporate Trustee Services | Estate Settlements Financial Planning | Investment Management | Not-for-Profit Services
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T O P 1 0 award recipient
Ruekert & Mielke Inc. For 70 years, Waukesha-based Ruekert & Mielke Inc. has assisted local communities with municipal infrastructure management. The company remains committed to its community and its employees, and has grown an average of 10.8 percent in revenue and 8 percent in employees in the past three years because of that commitment. “Our continued investment in our employees has had a significant impact on our ability to attract and retain the best staff,” said Stanley Sugden, president. The civil and municipal engineering firm became 100 percent employee owned in 2015. “Every employee at (Ruekert & Mielke) is an owner, which raises the bar in our ability to provide exceptional customer service,” Sugden said.
The commitment to customer service speaks for itself, as nearly 80 percent of the firm’s business comes from repeat clients. Employees at Ruekert & Mielke are encouraged to pursue paths of learning development, and can receive up to 75 percent reimbursement for school tuition and 100 percent reimbursement for industry-related training and education. The company also hosts events, sponsors sports teams and plans community charity walks and volunteer activities for its employees, Sugden said. “It is important for us to nurture a culture that involves our staff giving back with their time and talent,” he added. “We work with, and ask our client communities to think long-term in how they
The Ruekert & Mielke team.
invest in their infrastructure. The same can be said for our community service. The needs of our community require long-term investments in time. They are needs that are ongoing and require everyone to share their time and talent over several years.”
W233 N2080 RIDGEVIEW PARKWAY, WAUKESHA RUEKERTMIELKE.COM FOUNDED: 1946 INDUSTRY: PROFESSIONAL SERVICES EMPLOYEES: 82 2016 ANNUAL REVENUE: NOT DISCLOSED
Congratulations! from the strategic partners behind
Broadscope Disability Services
Ruekert & Mielke Inc.
PHONE: (414) 329-4506 WEB: broadscope.org Mission: To advance opportunities for people with disabilities and their families. Focus: To serve people with a broad scope of disabilities and their families by fostering inclusion and empowering freedom of choice. Vision: A world where people with disabilities and their families have the same opportunities as everyone else.
To learn more, visit biztimes.com/giving
2017 GIVING GUIDE FEATURED NONPROFIT
Associated Bank congratulates this year’s winners, especially our client, Ruekert & Mielke, Inc.
PRODUCED BY
Messmer Catholic Schools
A SSO CIA T ED B ANK
PHONE: (414) 264-5440 WEB: messmerschools.org Messmer Catholic Schools is dedicated to serving a culturally-diverse population and providing its students with an education that represents the schools’ Catholic heritage. Messmer provides a continuum of Catholic education for nearly 1,700 children in grades K4 through 12 at three campuses: Messmer Saint Rose Elementary, Messmer Saint Mary Elementary (Messmer Prep) and Messmer High School. Messmer prepares graduates to excel in college and technical school, succeed in the workforce, and become productive citizens.
2017 GIVING GUIDE FEATURED NONPROFIT
38 / BizTimes Milwaukee JUNE 12, 2017
Est. 1926
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T O P 1 0 award recipient
Winter, Kloman, Moter & Repp S.C. Winter, Kloman, Motor & Repp S.C. started as a small, one-office firm nearly 50 years ago. Today, the Waukesha-based company has grown into a full-service CPA firm with three offices and more than 70 full- and parttime employees. WKMR is one of the 10 largest accounting firms in the region. Daniel Gotter, president and shareholder of the company, credits WKMR’s success to the firm’s strategic plan, its clients and its people. “Growth would not be possible without our strong team. We value our team members and know without a doubt that our success is a reflection of their hard work and dedication to the company,” Gotter said. “We treat our team members like family and encour-
age their growth, both professionally and personally.” Employees are invited to further their education and most take advantage of the support, each completing an average of 40 hours of specialty training per year. “WKMR has seen consistent growth over the last few years,” Gotter said. “We’ve added on new clients while seeing our current clients’ businesses grow.” According to Gotter, WKMR’s focus on customer service and commitment has paid off in terms of new client relations. “The majority of our business is built on referrals, many of which come from our current clients,” Gotter said. “We work hard to build strong relationships with our clients and believe that communication is key in building the
Congratulations! from the strategic partners behind
Winter, Kloman, Moter & Repp S.C.
The WKMR team.
trusted relationships that we have with them. Our team members are proactive in helping our clients achieve success.”
235 N. EXECUTIVE DRIVE, SUITE 160, BROOKFIELD WKMR.COM FOUNDED: 1968 INDUSTRY: PROFESSIONAL SERVICES EMPLOYEES: 51 2016 ANNUAL REVENUE: $8.4 MILLION
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Strategies CONFLICT RESOLUTION
A+
Revisiting the kindergarten report card A lesson for big kids who want to get along When I was a kindergartner, we had a two-page report card. Page one had to do with the basic academic skills we were trying to master, like reading, writing and arithmetic. Page two had to do with various personal skills we were trying to acquire or master, such as cutting with a scissors, paying attention, sitting quietly, etc. One of these skill areas, I have learned through the years, is not only very important to succeeding as a kindergartner (a little kid), but also is critical to success as an employee or leader (a big kid). That
ment between two or more individuals or groups who perceive a struggle over values, scarce resources, status or power and who perceive that the other party intends to negatively affect their goals.” At work, conflict can arise from disagreements or differences over data, information, resources, interpersonal values, intrapersonal values and other organizational issues, including power, politics, and recognition or rewards. Interestingly, conflict can positively affect individual and team effectiveness. The problem is that once aroused, conflict can be difficult to control. Sometimes it remains task-focused, facilitating creativity, open communication and team integration. In other instances, it loses its focus and undermines creativity, open communication and integrated effort. Kenneth Thomas, a noted researcher in the area of conflict, has determined that how people in a team, group or organization believe their goals are related is important to understanding how effectively they work together. His research confirms that when people believe their goals are compatible, they know that as one succeeds, others succeed. There is increased cooperation because when one person is successful,
“It is not only what you know, it is what you do with what you know, in collaboration with others, that determines how successful you will be.” skill area is “works and plays well with others.” Think about it. How many of us enjoyed learning from teachers who were condescending controllers? How many of us enjoyed playing for coaches who were tyrannical? How many of us enjoy collaborating with teammates who are selfish me-firsters? How many of us enjoy working for managers who play favorites and/or encourage competition within the work group? Challenging relationships are those in which unhealthy conflict is present. Technically, we might define conflict as “an expressed disagree40 / BizTimes Milwaukee JUNE 12, 2017
others are simultaneously encouraged to reach their goals. This fosters a win-win climate and facilitates collaboration and trust. On the other hand, some people may believe their goals are competitive – if they win, someone else must lose. A competitive employee needs to prove he or she is the most capable and that his or her ideas are superior; other people’s successes are frustrating to such people. Over time, a competitive approach to goal attainment fosters a win-lose climate and erodes collaboration and trust. The accumulating evidence in the areas of
positive psychology, strengths-based leadership approaches and emotional intelligence tell an increasingly compelling story: it is not only what you know, it is what you do with what you know, in collaboration with others, that determines how successful you will be. But knowing does not always guarantee effective doing. With regard to conflict resolution, important skills have to do with managing and recognizing feelings and emotions, within oneself and with others. “Understanding self and others,” therefore, emerges as a foundational competency for people who wish to do a better job in the area of conflict resolution. Thomas and his colleagues have identified five primary styles people tend to draw upon in conflict situations, reflecting the extent to which a person is assertive (“I win”) or cooperative (“I help you win”). All five modes are useful in some situations; each represents a set of useful interpersonal skills. But like any other skill, once learned, we have a tendency to use our approach to conflict resolution repeatedly, sometimes to our detriment, because the approach does not always fit the people, circumstance or situation. Knowing when and how to use each mode is the essential element. This capability separates effective conflict resolvers from those who struggle to work in concert with others. n
DANIEL SCHROEDER Daniel Schroeder, Ph.D., is president and Organization Development Consultants Inc. He can be reached at 888.827.1901 or dan.schroeder@od-consultants.com.
RISK MANAGEMENT
portunities, but also your weaknesses and threats. These types of risks should concern you:
Be prepared for whatever could go wrong Identify threats you are facing today As I’m writing this, I’m in the middle of a systems crash at my consulting firm. Despite having backups, I find myself dependent on technology and its relationship to the intellectual property and administrative functions of my day-to-day existence. As I think about how I’ve gotten myself into this situation, I’m also reminded that it’s just one of the many risks businesses face daily. Overall business success depends on two major items: First, cash flow and second, profitability. Without both, no business will succeed in the long run. Positive cash flow and profitability build the foundation for the company and allow it to work on the most important parts of the business. Those include hiring great people, offering quality products and services, using unique delivery systems, and concentrating on other competitive advantages. Businesses fail when management makes poor decisions about products, people, pricing, etc. The real cause of business failure can be traced back to incompetent management teams.
HOW TO IDENTIFY RISKS How, then, can you strengthen your business? One way is to identify the variety of risks you face daily and find ways to mitigate, insure or accept potential risks as part of running a business. Most organizations identify the risks they face during their strategic planning process when they perform a SWOT analysis. Business planning depends on knowing not only your strengths and op-
Succession risk It’s paramount during a leadership transition, like a retirement or death. All key workers must understand the succession plan. They don’t have to agree with it, but they must be willing to work with it or it will fail. Customer risk Companies often skirt this because they’re more focused on revenue. A customer that represents more than 25 percent of your business becomes an informal member of your management team. A customer that represents more than half of your business becomes an informal shareholder. Supplier risk This surfaces when there are sole source agreements or when a product or service you deliver is harmed by the quality of what a supplier has provided. Consider food suppliers that pass on bad ingredients or tainted meat. If you don’t know about the problem until your product is in the customer’s hands, the result can be catastrophic. Remember the Tylenol murders in 1982?
solescence risk, social risk, and environmental risk. Address them all from a four-quadrant approach: »» If the risk is low and the potential impact is low, monitor the risk. »» If the risk is high but the overall impact is low, monitor the risk. »» If the impact is high but the risk is low, you might want to consider creating policies and procedures that help reduce the potential risk, and consider insurance for significant exposure. »» If the risk is high and the likelihood is high, insure against the risk, mitigate the risk through policies and procedures, and educate employees about the extent of the risk.
WHEN THINGS GO WRONG What do you do when something happens that results in unexpected exposure or crisis? It’s imperative that you have a comprehensive contingency or disaster plan. It should assign key employees to the crisis team. The team should also include legal counsel and a public relations representative. The central issue is what the company will do to get back in business quickly. Remember the three-part checklist on how to prepare: Identify your risks. Determine their impact. And understand how to mitigate or reduce the risks so that they don’t harm your business. n
Political risk This occurs in a variety of ways. Consider the Affordable Care Act. The issue isn’t whether you like it, but that it results in higher insurance costs for many companies. Control risk This includes internal controls, quality of products, and human resource policy and procedures. The success of compliance depends on creating and then monitoring effective policies and practices, making corrections when needed and continuing to monitor.
JIM LINDELL
Insurance risk This addresses catastrophes such as fire, hurricanes and flooding. Add to this list economic risk, technology and ob-
Jim Lindell is a CPA, a chartered global management accountant and a certified speaking professional. He is president of Dousmanbased Thorsten Consulting Group Inc. and chairs two groups for TEC/Vistage Wisconsin. biztimes.com / 41
Strategies FAMILY BUSINESS
Philanthropy and the family business Giving is another way we can pass on our legacy
“To whomever much is given, of him will much be required; and to whom much was entrusted, of him more will be asked.” — Luke 12:48, World English Bible
As an economist and professor for 30-some years, I am an ardent supporter of capitalism. It concerns me in these political times that our young, in particular, think socialism is simply a fairer system economically. That fairer system is leading to the collapse of global nations, particularly in Europe – Greece, Italy, Portugal to name a few – and yet, there are many in this country looking to embrace this failed structure. But perhaps what our youth object to the most in capitalism is that is tends to be self-cen42 / BizTimes Milwaukee JUNE 12, 2017
tric. Darwinian capitalism, which is not widely practiced in our country, is that which purports survival of the fittest. Our capitalism is described, erroneously in the textbooks in my opinion, as welfare capitalism. The mere inclusion of the word “welfare” makes me shudder, but I digress. May I humbly suggest philanthropic capitalism? Yes, it is a mouthful, but it more adequately describes the capitalism that oozes from our largess. Look around at the great colleges and universities of our nation, all the causes we fight for and give to, such as the American Heart Association, American Cancer Society, American Red Cross, Humane Society of the United States, and on and on. This philanthropy does not exist in other nations, at least certainly not at the level we have it here, and yet there we have it – welfare capitalism. This phrase makes it sound like everything comes from the government, or at least that is what welfare has become. But what makes our nation what it is largely has to do with our choice, not our obligations. We are obligated to pay taxes, but we have a choice to give to charity. I prefer choice. Family businesses largely grow and prosper to provide a legacy. That legacy can be introspective and for the family itself or provide for the greater good of society. One such gift to society was the BMO Harris Bradley Center. While I am excited to see a new Milwaukee Bucks arena and all the excitement surrounding the team and the progress and growth it brings, I am disappointed to see a gift given to our city destroyed. Jane Bradley Pettit and her husband Lloyd gave this gift from her family wealth to our community, and yet we thought very little about destroying this building. These actions give pause to families looking to pass along that legacy. One guy that didn’t pause when passing along money to the common good was Joe Zilber. He and his wife owned Towne Realty and built many of the small and mid-sized homes in our community. His fortune turned to philanthropy, from the Boys & Girls Clubs to neighborhood initiatives. Before he died at age 92, Joe decided he wanted to have some fun and give the money
away himself, as opposed to letting the trustees do it. He made a choice, and we thank him for it. We are all better off because of Joe! You can hardly walk around our city, or even state, and not run into a building funded in part or wholly by Todd Wehr. Now some of you skeptics might say, “Sure, this is how the wealthy avoid paying taxes.” So what is wrong with that? Do you voluntarily pay more in taxes than you need to? Didn’t think so. Therefore, philanthropy, the giving back from your wealth, is often a part of estate planning, especially for wealthy families. And, it should be. Even if you are not a Bible-thumper as the lead sentence might imply, giving back to a society that gave you much is just the right thing to do. Forget the tax ramifications – although those are hard to ignore. Giving is yet another way we can pass on our legacy, values and beliefs. And honestly, how much money do your kids and grandkids really need? Once the financial legacy is secure, why not make the right choice and give? Set up a foundation, give to an important cause near and dear to you, but give. Freely, as a choice. n
DAVID BORST David Borst, Ed.D., is executive director and chief operating officer of the Family Business Legacy Institute, a regional resource hub for family business. He can be reached at davidb@fbli-usa.com
Tip Sheet The operations plan
O
perations management is not the most glamorous function of your business, but having an operations plan is critical to the success of a well-structured business organization. Whether you’re a one-person show or an organization of thousands of employees, your plan will ensure your business is operating at peak productivity. Think of it as the “nuts and
bolts” of your business structure. Operations plans vary greatly depending on your business and industry. According to The Alternative Board, examples of operations you may need to include in your plan are: INVENTORY: How will you track, store, ship and acquire inventory? Your inventory needs to be stocked enough to feed the other functions of your business, but not overstocked to where you’ve tied up cash flow and are risking the loss of assets. DISTRIBUTION: How will products or services be delivered to your clients? Depending on your business, you may need a warehouse and shipping partner account or you might need an online interactive platform. Whatever your distribution needs, your plan should help identify the most effective means of distribution that will minimize cost and maximize customer value.
Having an operations plan is critical to the success of a well-structured business organization
ONBOARDING NEW CLIENTS: The sales team is bringing them in, but do you have the operational plan to deliver on their promises? Flip the coin and make sure that your sales and marketing teams are knowledgeable about the onboarding and product or service distribution protocols so they can effectively communicate key elements to your sales and marketing funnel. n
Have you given thought to your professional development for 2017? Or to how an investment in yourself can prove to be an investment in your business—with significant returns? A TEC peer advisory board is a place where CEOs come together to process issues and grow as leaders. TEC uses a structured, thorough, and efficient approach to help members think through the dynamics of a challenge.
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© 2017 Vistage Worldwide, Inc. 17_261_4016 - TEC Midwest GEN
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Biz Connections PAY IT FORWARD
Durment draws from long IT career as United Way volunteer Jane Durment
LILA ARYAN PHOTOGRAPHY
Chief information officer (retired) The Marcus Corp. Nonprofit served: United Way of Greater Milwaukee & Waukesha County Service: Co-chair of IT United
GROWING UP, Jane Durment’s parents dispensed two complementary pieces of advice to her and her siblings. “Mom always told us, ‘Your brains are God-given gifts, and you owe something back to the world,’” Durment said. “While Dad always told us girls, ‘You can accomplish anything you want in life if you just work hard at it.’” For decades, Durment followed her father’s advice – she worked hard and found success for 40 years in the information technology industry. In 2012, Durment closed out her career as chief information officer at The Marcus Corp. after working for 16 years in that role. Yet while she enjoyed her professional success, in the later part of her career, Durment found herself drawn to her mother’s exhortation to give back to the community. “I always told myself that, one of these days, I’d get back to what Mom said,” Durment said. “Finally, I did.” While working for Marcus, Durment met Mary Lou Young, president and chief executive officer of United Way of Greater Milwaukee & Waukesha County. Durment and her husband, Dave, had been longtime donors, but meeting Young gave Durment the push she needed to become active with the organization. She plunged in, joining the United Way’s Leadership Society and Women’s Leadership Council. In 2010, an opportunity presented itself for Durment to pair her desire to give back with her
professional expertise. Young asked Durment to launch an initiative aimed at providing technology professionals an opportunity to give back to the community through advocacy and volunteerism. Durment was excited for the challenge and IT United was born. IT United works with Milwaukee Public Schools in providing work-based learning opportunities to help students engage with technology careers. With a shortage of workers to fill well-paying IT jobs, Durment said, the initiative is aimed at helping Milwaukee students envision themselves in the industry through job fairs and shadowing opportunities. The group also lends IT support to local agencies and connects United Way agency partners with vendors who can provide pro-bono services. The initiative launched with a single event raising $19,000 and under Durment’s leadership, has grown to raise nearly $1.2 million today. “There are all kinds of ways to volunteer,” she said. “So to volunteer in your industry and to apply those skills and have it be sustainable, it’s very rewarding.” Durment was recently recognized by the United Way with the Linda T. Mellowes Woman Leader of the Year Award, which is given to a woman who exhibits leadership, is a role model and gives back to the community. n
LAUREN ANDERSON Reporter
P / 414-336-7121 E / lauren.anderson@biztimes.com T / @Biz_Lauren
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Biz Connections PERSONNEL FILE ACCOUNTING
BUILDING & CONSTRUCTION
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Akers
Gaines
William Komisar, a principal at CliftonLarsonAllen LLP in Milwaukee, has joined the 2017-’18 Wisconsin Institute of Certified Public Accountants board of directors as chair. Michael Akers, Charles T. Horngren professor of accounting and chair of the Department of Accounting at Marquette University in Milwaukee, has joined the board as chair-elect. Additionally, Patrick Hoffert, a partner at Reilly, Penner & Benton LLP in Milwaukee, and Jon Gaines, vice president of business services and finance for the Wisconsin Women’s Business Initiative Corp. in Milwaukee, have joined the board as directors. ACCOUNTING
Wipfli LLP, Wauwatosa Wipfli LLP, Wauwatosa, recently named Ellen Trytek executive marketing and development officer. In this position, Trytek will lead the firm’s marketing team in the development and execution of its integrated branding and marketing strategies and initiatives.
Mortensen Construction, Brookfield
Heiman
Labucki
Mortensen Construction has hired Corey Heiman as a supply chain and equipment coordinator for Sattyaprakash Mortenson’s Wisconsin equipment facility, Kari Labucki as an MEP project manager, and Rakshitha Sattyaprakash as an estimator. BUILDING & CONSTRUCTION
Horizon Retail Construction Inc., Sturtevant Horizon Retail Construction Inc., Sturtevant, has promoted Craig Ulrich from senior estimator to vice president of preconstruction. Ulrich has been a part of the Horizon team for 12 years and has more than 25 years of construction experience. ENGINEERING
R.A. Smith National, Brookfield R.A. Smith National, Brookfield, has promoted John Elkin to director of transportation. Elkin previously was assistant director of transportation, a position he held since January 2014. He has more than 30 years of experience in project management and transportation design in the transportation division at R.A. Smith National.
HOSPITALITY
NONPROFIT & VOLUNTEER
Pfister Hotel, Milwaukee
Wisconsin Bank & Trust, Greenfield
Travis Martinez was named executive pastry chef at the Pfister Hotel in downtown Milwaukee. He will be responsible for overseeing the production of all confections and chocolates at the hotel.
Nickolas Pierce, banking center manager at Wisconsin Bank & Trust’s metro Milwaukee location in Greenfield, has recently been selected to serve as a volunteer member of nonprofit HeartLove Place.
MARKETING
EPIC Creative, West Bend West Bend-based EPIC Creative has hired Noemi Hedrick as senior account manager. She will work on several brands, building client relationships and marketing strategies. MANUFACTURING
Ludman Industries, Milwaukee T.C. Shane has joined Milwaukeebased Ludman Industries as inventory control specialist. She reports directly to vice president of operations Ken Skarlupka. Shane previously worked for Du-Well Grinding in a similar role. MANUFACTURING
W.M. Sprinkman Corp., Waukesha Waukesha-based W.M. Sprinkman Corp., a thirdgeneration family business providing sanitary, stainless steel processing solutions for the food and beverage, dairy and craft brewing industries, added Brian Armstrong as national accounts manager.
NONPROFIT & VOLUNTEER
YMCA of Greater Waukesha County, Mukwonago The YMCA of Greater Waukesha County announced Laurie Schlitt has joined the Mukwonago YMCA as executive director. Schlitt was most recently chief executive officer of YMCA of the Northwoods. She replaces Geoff Mertens, who was promoted to vice president of operations for Y-GWC. REAL ESTATE
Keller Williams North Shore Market Center, Whitefish Bay Sarah Riordan, has joined the Keller Williams North Shore Market Center. The North Shore Market Center, located in Whitefish Bay, was established in 2013 and has almost 200 associates. SENIOR LIVING
Luther Manor, Wauwatosa Anne Becker has been named health care clinic manager and assistant nursing home administrator at Luther Manor in Wauwatosa.
Submit new hire and promotion announcements to: www.biztimes.com/personnel
46 / BizTimes Milwaukee JUNE 12, 2017
SBA LOANS The U.S. Small Business Administration approved the following loan guarantees in April: JEFFERSON COUNTY
Hansen Properties LLC, East Madison Street, Waterloo, $160,000, Summit Credit Union; Lakeshore Pier Service, 700 S. Third St., Palmyra, $165,000, Wisconsin Business Development Financial Corp.; Watertown Mart Inc., 330 E. Summit Ave., Watertown, $1.5 million, First Bank Financial Centre; KENOSHA COUNTY
AB-Salute Creative LLC, 9020 76th St., Pleasant Prairie, $270,000, Bank First National; BBQ’d Productions, 4235 Green Bay Road, #7, Kenosha, $187,000, Racine County Business Development Corp.; ServiceMaster, 10831 First St., Somers, $183,000, Wisconsin Business Development Financial Corp.; MILWAUKEE COUNTY
7425 W. Holmes LLC, 7425 W. Holmes Ave., Greenfield, $1.7 mil-
lion, The Huntington National Bank; Arrow Millwork & Cabinetry Inc., 6450 Industrial Loop, Greendale, $70,500, Cornerstone Community Bank; Badger Industries Inc., 4021 S. Kinnickinnic Ave., St. Francis, $150,000, Wisconsin Bank & Trust; Badger Industries Inc., 4021 S. Kinnickinnic Ave., St. Francis, $756,500, Wisconsin Bank & Trust; Bunty’s Liquor LLC, 8423 W. Cleveland Ave., Milwaukee, $100,000, Independence Bank; Keynote Inc., 7425 W. Holmes Ave., Greenfield, $150,000, The Huntington National Bank; McRae’s U.S. Mail Service Inc., 1400 N. 113th St., Milwaukee, $250,000, J.P. Morgan Chase Bank; Miss Molly’s Pastries LLC, 2830 N. 78th St., Milwaukee, $61,000, Spring Bank; The Packing House, 900 E. Layton Ave., Milwaukee, $475,400, U.S. Bank; Smarty Pants Learning Center LLC, 8802 W. Becher St., Milwau-
Our Goal:
kee, $296,500, U.S. Bank; Snack America LLC, West Forest Home Ave., Milwaukee, $250,000, Milwaukee Economic Development Corp.; The Village Cheese Shop LLC, 1430 Underwood Ave., Milwaukee, $75,000, Spring Bank; Third Coast Family Dental LLC, 8531 W. Lincoln Ave., Milwaukee, $51,000, U.S. Bank; Valentine Cafe LLC, 7971 S. Sixth St., Oak Creek, $42,000, Park Bank; Zen Gen Yoga LLC, 2657 Downer Ave., Milwaukee, $50,000, Stephenson National Bank & Trust; OZAUKEE COUNTY
Instep Physical Therapy LLC, 1516 W. Mequon Road, Mequon, $25,000, Partnership Bank; Mike Meyer Landscape Construction LLC, 1324 Horns Corners Road, Cedarburg, $15,000, J.P. Morgan Chase Bank; RACINE COUNTY
Entropia Care LLC, 825 Ela Ave., Waterford, $630,000, Waukesha State Bank;
SHEBOYGAN COUNTY
Heitzmann Enterprises LLC, 640 S. Pier Drive, Sheboygan, $310,000, Commerce State Bank; Pathways Detox LLC, 1102 W. First St., Waldo, $300,000, Oostburg State Bank; WALWORTH COUNTY
1440 Racine Street LLC, 1440 Racine St., Delavan, $144,000, Hometown Bank; Lake Geneva House of Music LLC, N3241 County Road H, Lake Geneva, $30,000, Community State Bank; Otto Jacobs Co. LLC, 1929 N. Hwy 120, Lake Geneva, $350,000, Waukesha State Bank; Ripple Behavior Solutions LLC, 842 Chelsea Drive, Elkhorn, $300,000, Byline Bank; WASHINGTON COUNTY
DJ Dylan LLC, 1240 Lang St., Unit 1, West Bend, $95,000, First Bank Financial Centre; His Comp LLC, 5700 Hwy K, Hartford, $150,000, Wells Fargo Bank; His Comp LLC, 5700 Hwy K, Hartford, $711,800, Wells Fargo Bank;
MarSan Inc., N114 W19225 Clinton Drive, Germantown, $585,000, Wisconsin Business Development Financial Corp.; Performance Manufacturing Engineering LLC, 1529 Highway K, Hartford, $244,900, First Bank Financial Centre; Production Equipment Services LLC, 2240 Innovation Way, Hartford, $456,000, Wisconsin Business Development Financial Corp.; WAUKESHA COUNTY
21st Century Tile Inc., 12600 W. Silver Spring Drive, Butler, $275,000, First Bank Financial Centre; American Advantage – IFS Inc., 353 Forest Grove Drive, Pewaukee, $95,000, Live Oak Banking Company; Bunker Golf LLC, 925 Genesee St., Delafield, $25,000, Independence Bank; Connected Technology Solutions LLC, W146 N9560 Held Drive, Menomonee Falls, $2.4 million, Commerce State Bank;
Cy Peterson & Son Builders LLC, W343 N7205 N. Pole Lane, Oconomowoc, $100,000, First Bank Financial Centre; Fairway Lighting Inc., 730 Larry Court, Suite D, Waukesha, $100,000, Associated Bank; Frontier Title and Closing Services LLC, 1130 James Drive, Suite 101, Hartland, $150,000, First Bank Financial Centre; Innovation Custom Doors Inc., S90W35710 County Road NN, Eagle, $365,000, Wisconsin Business Development Financial Corp.; Integrity Wire EDM Inc., W248 N5435 Executive Drive, Sussex, $395,000, Wisconsin Business Development Financial Corp.; L.C.S. Lawn & Tree Service Inc., 12450 W. Colfax Pl., Butler, $699,800, Wells Fargo Bank; M2Stride Inc., 3355 Intertech Drive, Brookfield, $1.8 million, Wells Fargo Bank; P&P Septic and Plowing LLC, 409 Roberts Drive, Mukwonago, $96,000, Citizens Bank.
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biztimes.com / 47
Biz Connections VOLUME 23, NUMBER 5 | JUNE 12, 2017
GLANCE AT YESTERYEAR
126 N. Jefferson St., Suite 403, Milwaukee, WI 53202-6120 PHONE: 414-277-8181 FAX: 414-277-8191 WEBSITE: www.biztimes.com CIRCULATION: 414-336-7100 | circulation@biztimes.com ADVERTISING: 414-336-7112 | ads@biztimes.com EDITORIAL: 414-336-7120 | andrew.weiland@biztimes.com REPRINTS: 414-336-7128 | reprints@biztimes.com PUBLISHER / OWNER Dan Meyer dan.meyer@biztimes.com DIRECTOR OF OPERATIONS Mary Ernst mary.ernst@biztimes.com
EDITORIAL
Oconomowoc Health Resort The Oconomowoc Health Resort, a psychiatric hospital, was opened in 1908 after the previous building burned down. This photo depicts the hospital in the 1920s. Today, the organization encompasses three Rogers Memorial Hospital campuses in southeastern Wisconsin, as well as a national outpatient center network, under the Rogers Behavioral Health umbrella. The main campus is at 34700 Valley Road in Oconomowoc. Photo courtesy Rogers Behavioral Health
Streetcar scrutiny just beginning THE INTENSE SCRUTINY over one of Milwaukee’s most controversial public works projects ever has only just begun. After years of debate about the $128 million downtown streetcar project, it is finally under construction. Mayor Tom Barrett, most of the Common Council and other city officials have supported and advanced it. About $69 million of the cost will be paid for with federal funds and $59 million with city funds from tax increment financing districts. There are a huge number of skeptics who are convinced that “the trolley” will be an epic failure with few riders and higher construction and operating costs than what city officials are promising. For them, the streetcar is the ultimate symbol of government waste. Some say the funds should be used for another purpose. The federal money is allocated for transportation and dedicated to this specific project, but the TIF funds are siphoned off from the city’s general fund. Supporters of the streetcar, which include some of Milwaukee’s most prominent business 48 / BizTimes Milwaukee JUNE 12, 2017
EDITOR Andrew Weiland andrew.weiland@biztimes.com MANAGING EDITOR Molly Dill molly.dill@biztimes.com REPORTER Lauren Anderson lauren.anderson@biztimes.com REPORTER Corrinne Hess corri.hess@biztimes.com REPORTER Arthur Thomas arthur.thomas@biztimes.com INTERN REPORTER Maredithe Meyer maredithe.meyer@biztimes.com
SALES & MARKETING DIRECTOR OF SALES Linda Crawford linda.crawford@biztimes.com ACCOUNT EXECUTIVE Molly Lawrence molly.lawrence@biztimes.com ACCOUNT EXECUTIVE David Pinkus david.pinkus@biztimes.com ACCOUNT EXECUTIVE Maggie Pinnt maggie.pinnt@biztimes.com ACCOUNT EXECUTIVE Christie Ubl christie.ubl@biztimes.com SALES INTERN Amanda Bruening amanda.bruening@biztimes.com
ADMINISTRATION ADMINISTRATIVE COORDINATOR Sue Herzog sue.herzog@biztimes.com MARKETING & EVENTS INTERN Eileen Demet eileen.demet@biztimes.com
PRODUCTION & DESIGN
Independent & Locally Owned
GRAPHIC DESIGNER Alex Schneider alex.schneider@biztimes.com ART DIRECTOR Shelly Tabor shelly.tabor@biztimes.com
— Founded 1995 —
leaders, say it is an important investment in the city that will help attract more talent and economic development downtown. The streetcar has become a whipping boy for critics of city leaders, and that criticism is only going to get worse. If you think the MMSD’s deep tunnel took a lot of public abuse after overflows during heavy rainstorms, just wait. You haven’t seen (or heard) anything yet. Now that the project is underway, the streetcar’s critics are going to pounce and harp on every problem it has, big and small. It didn’t take long for something to come up. In just the early stages of streetcar construction, led by Omaha, Nebraska-based Kiewit Corp., a crew digging up Broadway accidently cut five AT&T lines, knocking out phone and internet service for dozens of Milwaukee businesses for much of the week in late May. The streetcar critics were quick to howl about the gaffe as if to say, “told you so.” A spokesperson for the Department of Public Works said the cost to repair the AT&T lines will be worked out by the contractor and the utility. I hope so. Taxpayers had better not be on the hook. But what about the loss of revenue to the businesses whose phone and internet service were interrupted? Of course, there are sometimes issues during
Work continues on the track for the downtown streetcar. public works projects, but the public has a right to expect competence from the individuals doing this work on our community’s infrastructure. When it’s all said and done, the streetcar will be successful if it is built and operated on budget, if it attracts riders, if development is built along the route and if the city can attract federal funds to add more routes. We shall see. n
ANDREW WEILAND EDITOR
P / 414-336-7120 E / andrew.weiland@biztimes.com T / @AndrewWeiland
AROUND TOWN
Wisconsin International Trade Conference The Metropolitan Milwaukee Association of Commerce’s World Trade Association recently held the Wisconsin International Trade Conference at the Wisconsin Center in Milwaukee.
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KHAY KHONG of the Wisconsin Economic Development Corp. with AKSEL SIDEM and YOUSUF HIRANI , both of S3 International LLC.
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JAVIER GONZALEZ, DIANE DUYCHAK, JANE SLUSAR and NICOLE BOHMAN, all of Johnson Controls International plc.
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KURT ZUEHLKE of Johnson Health Tech and JONATHAN PAULL of Pilot Air Freight.
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ROBERT GROSS of Gross Automation and ROBERT KIRCHER of International Risk Consultants.
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ASHWINI RAO of the Wisconsin Department of Agriculture, Trade and Consumer Protection and MARIE MARTIN of Fox Valley Technical College.
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JACK BLACK and DARRIN BLISS, both of D.L.S. Electronic Systems.
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MICHAEL STONE of E.M. Wasylik Associates LLP, ANA GARIC of MITA and STANLEY PFRANG of WEDC.
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DAVID MCKEAG and ZHINING LIU, both of Johnson Controls. Photos by Maredithe Meyer
2017 BizExpo BizTimes Media’s annual BizExpo featured more than 100 exhibitors, 18 seminars, and the Women in Business breakfast, Bravo! Entrepreneur and I.Q. Awards and BizBash events. 9.
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JULIE BONNELL, DAVE WENDLAND and DAWN VOGELSANG, all of Hamacher Resource Group Inc., and LINDA KATZ of Molded Dimensions at the Women in Business breakfast.
10. ALAINA BEGER and MARIHA DEWBERRY, both of Ogden & Co., and THERESE HEEG of Lifeworks Coaching & Training at the Women in Business breakfast. 11. ALAINA FORD and KARA NINEDORFMOAT, both of Citizens Bank, at the Women in Business breakfast.
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12. LAUREN TRANCHITA, LAUREN KENNEDY, NINA KORTAS and KRISTIN ADELMUND, all of Hatch Staffing Services, at the Women in Business breakfast.
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13. DAN MEYER, publisher of BizTimes Milwaukee, and WENDY BAUMANN, Wisconsin Women’s Business Initiative Corp. president and BizTimes Woman Executive of the Year.
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14. BARBARA RICHTER of RyTech LLC, KATRINA CRAVY of Katrina Cravy Inc. and JULIE FELDMAN of Feldman Media LLC at the BizBash cocktail event. Photos by Paul Gaertner biztimes.com / 49
BizConnections MY BEST ADVICE
Nothing can replace hard work ”
LILA ARYAN PHOTOGRAPHY
“
STE VEN BARTH Partner and business lawyer Foley & Lardner LLP Milwaukee Industry: Law www.foley.com Employees: About 2,500
“I HAVE THREE MA XIMS that I live by that I learned from my dad that I use all the time. I pass them on to any of the young lawyers who will listen to me, too. They really still ring true. “The primary one that really drives me and I really try to imbue in my young associates is…there are always going to be competitors who are smarter than you and there are always going to be competitors that are luckier than you…but always make sure that there’s no competitor that works harder than you. It’s true. There are many others that are smarter than me, there are many others that are luckier, but if you are the hardest worker around, sooner or later, breaks will come to you. “Nothing can replace hard work and outhustling and the respect that that generates and the good fortune that arises from it, as well.”
50 / BizTimes Milwaukee JUNE 12, 2017
AGE: 57 PROFESSIONAL EXPERIENCE: Barth earned his juris doctorate, cum laude, from the University of Michigan in 1984. He holds a bachelor’s in finance from Indiana University. Barth has been recognized for the past four years as a leading corporate/M&A lawyer by Chambers USA, The Legal 500 has recommended him for his M&A work from 2012 to 2016 and he has regularly been listed as a Wisconsin Super Lawyer and among the Best Lawyers in America. Barth is co-chair of Foley’s national Transactional & Securities practice and a member of the firm’s management committee. He has represented buyers, sellers, investors and intermediaries in more than 600 business combination
transactions aggregating more than $20 billion in total consideration, and has represented many publicly traded companies, including The Marcus Corp., Cummins Inc., Bucyrus International Inc. and MGIC Investment Corp. IN THE NEWS: The M&A market continues to boom, valuations are high, private equity is chasing deals harder than ever, and strategic buyers are trying to stay competitive through acquisitions, Barth said. And if President Donald Trump’s planned repatriation of corporations’ foreign cash goes through, deal volume will increase further. “If they can now bring that cash back, they’re going to have to put it to use and that could mean really heightened deal activity,” he said. n
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Publication Date: September 4, 2017 Reservation Deadline: July 26, 2017
To learn more, contact Linda Crawford 414.336.7112 | linda.crawford@biztimes.com
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