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Mark Groulx's History of Creating Value


Strategy

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  • Reduced Falcon order-to-ship lead-time from industry standard 45 days to 5 days.
  • Launched office furniture industries first “On-Time-Or-Free” delivery guarantee.   

Growth

  • Grew Falcon sales an average of 32% / year from 2007 to 2015; earnings growth averaged 46% / year.
  • Grew Prince sales from $0 to $24 million in 48 months – half through acquisition, half through new business development. 

Sales Channel

  • Led national network of 500 Trendway dealers.
  • Established partnership between Falcon and SealMaster to increase number of points of sale from 20 to 105.  SealMaster is the leading asphalt contractor supplier in North America. 

Product

  • Search for unfair competitive advantage led Falcon to invent (and patent) technology to make asphalt recycling affordable.
  • Created global market for bottom dispensing consumer packaging (ex., Heinz ketchup).

Operations

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  • Shattered industry record for on time shipping performance--- Trendway had 11 late shipments out of 21,000 orders (99.9%).
  • Reduced Herman Miller late shipments from $14 million/week to < $100,000/week and order lead-time from 4 weeks to 3 weeks.

Start-ups

  • Founded Falcon RME, a manufacturer of asphalt repair equipment.
  • Led start-up of Prince Manufacturing, a venture capital funded manufacturing services company.

Turnarounds

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  • Led Trendway through 2001 recession -- office furniture industry shrank 40% while prices dropped 25%.
  • Restructured Herman Millers manufacturing model from build-to-inventory to build-to-order. The resulting $55 million dollar cost reduction contributed significantly to increase in Herman Miller stock price from $4 per share in 1993 to $25 per share in 1997 (NASDAQ).

Acquisitions / JV

  • Played key role in 21 acquisitions / divestures. From $1 million to $1 billion.
  • Formed 50/50 joint venture between Trendway and InterStuhl, a leading German seating company. Created market buzz by placing these chairs under the seats of the three American Idol judges. 

Global

  • Conducted business on five continents.
  • Gained access to low cost materials by forming alliance between Trendway and POSH, a leading Chinese office furniture manufacturer. 

Shareholder Value Creation

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  • Sold Falcon for 7X EBITDA.
  • Appraised value of Trendway increased 118% from 2001 to 2006. Valuation performed by Plante Moran as part of ESOP. 

Other Duties as Assigned

  • Member of Dow Corning seven-person breast implant crisis management team.

Recognition

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  • Six-time member of Inc. Magazine’s Fast 5,000.
  • Two-time Michigan Ernst & Young Entrepreneur of the Year Finalist (2004 & 2015).
  • Winner of Dow Corning Global Marketing Achievment Award. 


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