Issue link: https://iconnect007.uberflip.com/i/1042925
40 FLEX007 MAGAZINE I OCTOBER 2018 and want to preserve the companies in that space. All Flex in Northfield, Minnesota, fit their business model; they want to try to maintain employment and help the businesses prosper in communities where previous own- ers and management started them. This was a unique value proposition for me. It's very exciting and I was very attracted to it. They also support the businesses for growth. Another thing that attracted me to All Flex is it's a business that has been per - forming well and is in some similar spaces to where I've been in the past. I haven't been in the flex circuit space, but in both my automa- tion background at Emerson and electronic controls in HVAC, there are some similari- ties in electronics and controls technology and manufacturing. Overall, I was attracted to their specialties and culture. I like the fact that it's a customer-focused organization in all parts of the business, not just the sales and marketing team. Goldman: What other businesses are associated with Granite Equity Partners? Keithly: They're fairly diverse. There is Alti- mate Medical, which designs and manufac- tures a full line of adult and pediatric sit-to- stand devices, which are used to serve patients with indications such as spinal cord injuries, paralysis, multiple sclerosis and cerebral palsy. There's also a company by the name of DeZURIK, which is a global leader in valve technologies for water and wastewater treat- ment, as well as other industrial applications. There's GeoComm, the leading provider of geographic information and communication systems to emergency 911 call centers across the US. GEOTEK is a designer, manufacturer and distributor of reinforced fiberglass pultru- sion products for the electric utility and ani- mal containment markets. Further, there is Massman Automation, a leader in the design and manufacturing of precision automation machinery. Microbiologics offers the largest and most diverse line of ready-to-use quality control microorganisms, which are sourced from the world's leading culture collections, packaged and delivered around the world. Finally, Vector manufactures and distributes market leading vinyl windows and patio doors throughout the upper Midwest. Goldman: Where do you see All Flex going in the next few years? Keithly: I'm not here to disrupt the strategy as the business is performing well. We're in the flex industry space and starting to get exposure to more rigid-flex applications. This is a rela- tively new space for us and we are looking to accelerate growth. We will evaluate where to invest internally in technology and engineer- ing capabilities, or do we seek acquisitions that make fit and bring in additional technol- ogy and capabilities to allow us to grow faster and serve customers? Right now, I want to continue what we're doing and perhaps look at accelerating those efforts. We've been on a good trajectory. The business and leadership team has been invest- ing capital into the company to support the growth and keep up with demands to support our customers' technology base, and we're certainly going to continue that. We've made a number of large investments in 2018 with some more to go in the next three months, we have additional capital initiatives to support our customer base that will deploy in 2019. Barry Matties: When you look at growth, do you expect growth in the flex market? Keithly: The industry numbers indicate the market is up about 9% in 2018. I don't know if we can count on a similar trend in 2019, it's still early. For our business, we will continue to focus on supporting our customers and seeking new opportunities. We have a diverse North American customer base and a wide variety of applications that fit our capabilities. Matties: You mentioned different regions. It will be interesting to see what happens with the tariffs and all the other impacts going on in North America. How do you view the North American market versus the rest of the world?