Krisi Schell, SRC Holdings, Serves as Panelist, Manufacturing Outlook Event
Work ethic, talent and workplace culture are key components when considering a company merger or acquisition, a panel shared Dec. 5 at the Springfield Area Chamber of Commerce’s Manufacturing Outlook event.
Around 325 people attended the chamber’s fourth and final Outlook series event for the year, held at the $4 million newly opened Glendalough Convention Center expansion of DoubleTree by Hilton. The chamber luncheon was the first event in the 10,000-square-foot space, which is still a work in progress with temporary lighting, an unfinished ceiling and construction ongoing outside the venue.
Matt Morrow, Springfield chamber president, moderated the panel comprising Krisi Schell, director of talent, culture and community development at SRC Holdings Corp.; Bill Hammitt, president and chief operating officer of AmProd Holdings LLC; and Jason Corson, senior vice president of BKD Corporate Finance LLC.
AmProd Holdings, which operates American Products LLC, Press Room Equipment LLC and EnSight Solutions LLC, has been strategic in its growth, Morrow said.
“We go after transactions so that we can add value,” Hammitt said, noting when it comes to acquisitions, AmProd wants to first have an understanding of the work and processes the company has in place. “We’ve been very successful with it over the years.”
While he doesn’t have direct connection with acquisitions or other similar company ownership transactions, Corson said some clients he and others at BKD work with are approaching retirement age and don’t have a transitional opportunity for family members into management.
“A third-party buyer is the only real way of maintaining the business,” Corson said, adding he encourages clients to think about transitions and the timing of when to make those big decisions.
A good culture alignment is part of making sure transactions such as a possible acquisition work well with all parties, Schell said.
“It’s important that you have to negotiate a level-playing field,” she said. “Having that in the agreement, having that well established when you’re starting is very important.”
The panel discussion was preceded with a presentation by guest speaker Sarah Low, associate professor of regional economics with the University of Missouri-Columbia. Low spoke about a study she conducted regarding manufacturing plant resilience.
The chamber’s Outlook series will return in 2019 with Health Care Outlook first on the calendar, scheduled June 19.