Contributed by Project Equity, an IMEC partner

Like many business owners nearing retirement age, when it came time for Select Machine owners Doug Beavers and Bill Sagaser to think about stepping away from the company, they investigated a range of options. They ultimately decided that selling their business to their employees was the option that best met their retirement goals of keeping their company healthy and profitable, and keeping their trusted employees in their jobs.

Select Machine, founded in 1994, manufactures and sells custom parts for demolition and construction equipment. When founders Beavers and Sagaser decided that the time had come to retire, they were confronted with a difficult choice. Their children weren’t interested in taking over the company, and prospective buyers planned to dismantle the company and lay off its workers, preserving only the company’s client list. Sagasar said of their employees, “These are our guys, our family, and we wanted them to keep on working.”

Genoa Business Forms Inc. has been printing the paperwork that makes businesses run since 1957. We print custom business forms (such as Invoices and Bills of Landing), checks, envelopes and marketing pieces.

Vogel Tool & Die manufactures a wide range of tools used in the fabrication of tubular metal parts and is the inventor of the Arc-Fit tool line for coping the ends of tubes & pipes. From an exercise treadmill to wheelchairs, to truck brush guards and car mufflers, Vogel tools have helped to manufacture thousands of products you encounter everyday.

Jesus Dominguez, Technical Specialist - Based in Chicago, he brings bilingual skills (English and Spanish) and United State Marine Corps discipline to work in a high performance team helping companies implement actions to improve productivity and competitiveness.

On Thursday, May 28, IMEC had the privilege of joining the U.S. Department of Commerce Manufacturing Council’s Sub-Committee on Innovation and Research and Development, White House Advanced Manufacturing Partnership officials, Digital Manufacturing and Design Innovation Institute (DMDII) and local manufacturers for a round table discussion.

The discussion was held at the UI LABS: Digital Manufacturing Design Innovation Institute building in Chicago and was centered on the state of innovation in the American supply chain ecosystem, and effective strategies to help small manufacturers identify opportunities for innovation, invest in innovation and upgrade capabilities.