Manufacturing Company Increases Revenue by 50% in the Past Three Years
Martindale Electric is a leading manufacturing company in Cleveland, Ohio, that produces circular saw blades and electric motor maintenance and repair equipment sold worldwide. Martindale has been in business since 1913 and is continuing to thrive today.
The Reason for Martindale’s Significant Growth
Just like most businesses, COVID-19 has impacted Martindale in 2020, even though it has remained in operation as an essential business throughout the pandemic. Sales have been affected since Q2, but are starting to turn around. The company has also spent time putting programs in place for future growth and operating efficiency, so they are ready to grow as the economy recovers.
Despite the pandemic, Martindale has increased its revenue by 50% in the past three years through the acquisition of competitors and key competitor accounts. One of those acquisitions was Gaylee, a saw blade manufacturer originally based out of Michigan. After the acquisition, a number of Gaylee sales reps and shop floor machinists were committed to learning the Martindale business and decided to commute to Cleveland and back to Michigan each week in order to do so.
This has continued to this day. A few employees have even moved to Ohio to work for Martindale full time. Why? Because of Martindale’s focus on its family culture and dedication to taking care of people. The company is committed to its employees, and employee loyalty is obvious with the average tenure being 15 years.
President Linas Biliunas says, “You treat people right. You invest in people and they’re going to stick around and be loyal. Taking care of our people is in our DNA.”
Martindale chose to adopt an employee stock ownership plan (ESOP) in 2010 rather than sell the company to a private equity firm. The owner at the time, Susie Martindale, didn’t want to compromise the family legacy that had been built and wanted to remain true to the company’s roots. As an ESOP, the focus is on the employees and how they’ll grow the organization together.
Commitment to Employee Growth and Development
An example of this commitment is Martindale’s education and training program offerings. As a member of Manufacturing Works, Martindale participates in the apprenticeship programs that are designed to provide career opportunities for individuals in the community, including paid job training and technical training. There are currently two Martindale employees working on getting their associate degree and journeyman’s license. All of the administrative aspects of the program are handled by Manufacturing Works, and Martindale funds the training.
Martindale has also taken advantage of Manufacturing Works’ supervisory training, which covers the essentials of frontline leadership in manufacturing, from communicating to managing conflict.
Why Manufacturing Works?
With such commitment to its employees, it’s no wonder that Martindale wants to help the greater community too, which is one of the reasons it has been a Manufacturing Works member since 2002. Biliunas said he is proud to be part of an organization with sincere goals of educating and supporting manufacturers in Cleveland, Ohio. Manufacturing Works is proud to have a longstanding member who values its employees and realizes how integral they are to the success of the manufacturing company.
If you are a Cleveland manufacturing company looking to attract great talent or develop and grow your current workforce, contact us to learn more.