Pittsburgh, PA, and Toledo, OH (October 31, 2006). The Business
Growth Alliance, LLC (BGA), in collaboration with the Toledo-Lucas County Port
Authority and Eastman & Smith, Ltd., hosted and presented the second in
a series of nationwide Middle Market Business Owner/Executive Workshops. The
subject of the workshop was: Increasing Profit and Sustaining US-Based Middle
Market Businesses By Accessing Fortune 500 Company Know-How & Development
Support. The workshop was held on September 20, 2006 at The Toledo Club
in downtown Toledo, Ohio.
The workshop was organized for the benefit of middle market
businesses (revenue in the range of $25MM to $500MM) to help such companies
grow and remain competitive in the United States and throughout the world by
accessing world-class know-how, development support, and even brands and product
lines from Fortune 500 Companies.
The event featured a speaker from DuPont (NYSE: DD), a Fortune
100 company which is leading the way in licensing technology and providing development
support to middle market companies. Dr. Barry Crouch, Licensing Manager, Intellectual
Assets and Licensing, DuPont, discussed the benefits of licensing DuPont’s
Technologies and its approach to working with and selecting middle market companies.
“DuPont spent $1.3 billion on research and development last year,”
said Dr. Crouch. “Much of this technology will be used internally in new
products, but inevitably some will not fit with our strategic plans and will
not be implemented. This means there is an opportunity for middle market companies
to take advantage of this pool of knowledge and drive forward to market with
products they might not be able to develop internally. We are actively looking
for companies interested in licensing technology and the BGA meeting was an
excellent opportunity for DuPont to spread this message.”
Also, Eric and Cary Senders, co-owners of 6062 Holdings, LLC,
an Ohio based company, discussed how they recently licensed a product line from
DuPont, which is now the foundation for their current initiatives in introducing
an artificial biodegradable plant growth medium for the global hydroponics industry.
“It is clear from our licensing deal with DuPont, and our interaction
with other Fortune 500 companies, that there are large, forward thinking companies
which recognize the benefit of offering untapped technology to successful entrepreneurs,
as well as medium sized companies, to capture ROI on what would otherwise be
unused or shelved intellectual property. It is also clear that the best path
to working with these companies is through yet2.com and BGA, both of which offer
access and assistance both pre and post deal”, said Mr. Eric Senders.
BGA featured speakers included: Mr. James C. Bly, Jr., Co-Chairman
of BGA and Chairman and CEO of Source Companies, LLC, based in Pittsburgh, PA;
Mr. Phil Stern, co-founder and CEO of yet2.com, based in Needham, MA; Mr. Garth
M. Tebay, Founder and Managing Partner of Value Defined Middle Market, LLC,
based in Toledo, OH; and, Mr. Barry Rosen, President of The Pursuit Group, also
based in Toledo, OH. Source Companies, LLC, yet2.com, Value Defined Middle Market,
LLC and The Pursuit Group are all Founding Members of BGA (www.bgallc.net).
James Bly’s presentation focused on how companies must
re-think their growth strategies and learn how to factor into their plans the
ability to access world-class know-how, development support, and even brands
and product lines from Fortune 500 companies. He presented practical examples
of what middle market manufacturing companies are doing to profit from this
emerging trend among Fortune 500 companies to assist smaller businesses. “Most
medium-sized companies have not considered, as a key element of their growth
strategy, accessing know-how and development support from Fortune 500 companies,”
said Mr. Bly. “Often that would be less risky than considering growth
through business acquisitions.”
Phil Stern explained how his pioneering activities during
the past seven years have positioned his company, yet2.com (www.yet2.com),
as the world leader in providing guidance and intermediary assistance to arrange
successful “know-how” transfers from larger companies to middle
market businesses. Mr. Stern noted that yet2.com has working relationships with
roughly twenty-five percent of the Fortune 500 companies, which are committed
to finding medium-sized companies that can benefit from intellectual property
and knowledge transfer, and development support. “Importantly”,
noted Mr. Stern, “we have developed the window and gateway that can facilitate
a middle market company’s ability to more easily determine which Fortune
500 companies might be able to provide know-how or technology applicable to
their needs, and the ability to immediately access direct introductions to the
decision makers within large companies.”
Mr. James H. Hartung, President, Toledo-Lucas County Port
Authority, discussed the many financing options made available to middle market
companies in the Toledo area through the Port Authority, which could help companies
expand and grow their businesses. “The Toledo-Lucas County Port Authority
is committed to the economy and employment in the region. We are here to support
the financing needs of businesses, which need to fund new facilities and equipment
to grow and expand employment in Northwest Ohio”, he said.
The conference was well received by the companies which had
been invited to attend, according to many members of the audience who participated
in the Executive Roundtable Discussion at the end of the workshop. Mr. Craig
Tapley, Chief Operating Officer of Kellogg Crankshaft, a manufacturer of crankshafts
based in Jackson, MI said, “Middle market companies like mine often wonder
if our current business can support our future. We know we need to change the
way we think or we die. The workshop addressed some of the real issues middle
market companies like mine are facing today. We are trying to survive and grow
in today’s rapidly changing and competitive environment and all of the
points discussed at the conference hit home for my company. The breakout sessions
were especially helpful as I had a chance to hear from several owners and executives
of other middle market companies facing some of the same problems and issues
we are struggling with today. The workshop was a fantastic forum for privately
owned companies which may not be aware of the financing solutions, networking
opportunities and growth advisory options such as, accessing know-how and development
support from Fortune 500 Companies. Often, medium sized businesses have limited
resources and need expert advice from organizations such as BGA to help them
grow and remain competitive.”
ABOUT BGA
Business Growth Alliance, LLC (BGA) believes that locally
owned, privately held, growing and profitable medium-sized businesses are materially
important contributors to the betterment of regional economies and the social
fabric within communities. BGA has carefully selected and organized a national
affiliate network of seasoned, professional services firms, which are dedicated
to providing growth advisory and investment banking services to middle market
and family-owned companies and their principals. In addition to their core growth
advisory and investment banking services, BGA Member Firms collaborate to address
the strategic growth, capital formation, owner liquidity, and governance needs
of such businesses and their owners. The eight Founding Affiliate Members of
BGA include: de Visscher & Co., Source Companies, LLC, yet2.com, The Pursuit
Group, Tenzing Consulting, Value Defined Middle Market, LLC, Asher Training,
and US China Business Solutions, Inc.
ABOUT THE TOLEDO-LUCAS COUNTY PORT AUTHORITY
The Toledo-Lucas County Port Authority has developed a national
reputation for innovative business financing, assisting more than 250 economic
development projects representing a total investment of more than $1.6 billion
while helping to create and retain more than 14,000 jobs. An important component
of the mission of the Toledo-Lucas County Port Authority is to assure optimum
business growth, technology development, investment, job retention and improvement
in quality of life.
ABOUT EASTMAN & SMITH LTD
Eastman & Smith, Ltd. is among the oldest firms in Ohio.
With over 75 practicing attorneys, it has both the size and resources to provide
high quality representation to its clients through effective application of
talent and experience. Eastman & Smith, Ltd. is proud of its strong historical
foundation and reputation of providing a wide variety of legal services to businesses,
including family-owned and middle market companies, individuals, and governmental
units in the Toledo community.
To Contact BGA:
Manning J. O’Connor II, Executive Director
Business Growth Alliance, LLC
1606 Carmody Court, Blaymore 1, Suite 300
Sewickley, PA 15143
Telephone (724) 933-6650
Fax (724) 933-6099
email: moconnor@bgallc.net
www.bgallc.net
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