Employee-OwnerS / Remanufacturers / Businesspeople

ABOUT SRC hOLDINGS cORP

Acknowledged as a Top 25 Best Small Company in America by Forbes, SRC is an employee-owned remanufacturer in North America directly servicing original equipment manufacturers (OEMs). We are known world-wide for our open-book culture, The Great Game of Business®, which focuses on transparency, integrity and business literacy.

Since 1983, we’ve been helping OEMs sell parts and whole goods through custom remanufacturing programs for the agricultural, industrial, construction, truck, marine and automotive markets. Our expertise has grown far beyond remanufacturing to include warehousing, logistics, core management, kitting and packaging, and material salvaging.

Our success is made possible by our associates who continue to better the organization daily. Our associates take pride in their reputation as businesspeople who understand how they can impact our bottom line. Their excellent technical skills – accompanied by their role as employee-owners – have become our legacy in the industry.

 
 

2,000 / Associates

4.4M / Square feet of manufacturing & warehouse space

100% / Employee-owned

#1 / Most innovative business practice by Inc. Magazine

$3.6M+ / In charitable giving since 2006

40 / Years as an employee-owned company

100 / Business books featuring the SRC origin story

60 / Individual business spin-offs since 1983

 
 

AWARDS & HONORS


 

The Comeback Kids

Our History

Our story begins in the recession of the 1980s when SRC was a small division of International Harvester – who, for the past two years, had been laying off 1,000 employees every week. The Springfield, Missouri, factory would be next on the chopping block. With no job outlooks, Jack Stack and the other managers became desperate. To save everyone’s jobs, they scraped together $100,000 and set out to buy the company.

After being rejected for a loan by over 50 financial institutions, Jack finally found a bank to grant them the loan. The final deal is still the worst loan in corporate American history – an $8,900,000 loan with $100,000 in equity.

In his quest, Jack learned the “language of business” and realized it wasn’t that difficult to understand. With an 89:1 debt-to-equity ratio with an 18% interest rate, he needed every employee to understand that meeting their loan payment was critical to their success, how to reach that goal and that their jobs were at stake if they didn’t. The key was open-book management with the idea that if everyone was working to build a great company, they would be unstoppable.

On February 1, 1983, Springfield Remanufacturing Corp. was born and vowed to do things differently. They taught all employees the company’s financial statements and how they impacted those numbers. They created The Great Game of Business® to serve as a tool for teaching business metrics. Soon they had grown to one of the most successful businesses in America, and journalists from all over the world began flying to Springfield, Missouri, to learn more about these incredible associates and their unique way of running a company.