Next chapter for us

[mattq]

https://nationalcomposites.com/2021/07/30/national-composites-acquires-able-manufacturing-assembly-joplin-mo/">https://nationalcomposites.com/2021/07/ ... joplin-mo/">https://nationalcomposites.com/2021/07/30/national-composites-acquires-able-manufacturing-assembly-joplin-mo/


Got bought out by a bigger group.  They all came in last week and I'm encouraged!  I have been here 17 years and I think it is time for a change and this is what was needed.

https://nationalcomposites.com/wp-content/uploads/2019/10/073021-national-composites-national-composites-able-manufacturing-press-release.pdf">https://nationalcomposites.com/wp-conte ... elease.pdf">https://nationalcomposites.com/wp-content/uploads/2019/10/073021-national-composites-national-composites-able-manufacturing-press-release.pdf

[JParis]

Many times these kinds of acquisitions turn out to change very little....sometimes not even the upper management.  The company just gets bought for its business...

Hopefully all goes well!!!

[mattq]

That is what their motto is no changes just financial backing to help fix stuff and grow.

[gcode]

Best of luck with your new owners
Sometimes getting bought out works out really well
Sometimes it does not
Getting bought out is usually pretty hard on mid and upper level managers

[RobertELee]

Seen it all different ways. One place I worked at (quit about a year prior) was bought out and the buyers claimed they wouldn't change anything. The first week there was a sign on the door when people arrived saying the location was closed and everyone laid off. Turned out they purchased it just for their patentented processes and military contracts.

Another laid off probably 90% of management.

Another didn't change anything except cut budgets that absolutely killed production. Had to make requests to buy simple things like standard endmills... took 4X longer to do anything because you had to scrounge for everything...etc...

Good luck however Matt! Hope it works out great for you!!

[gcode]

Seen it all different ways. One place I worked at (quit about a year prior) was bought out and the buyers claimed they wouldn't change anything. The first week there was a sign on the door when people arrived saying the location was closed and everyone laid off. Turned out they purchased it just for their patentented processes and military contracts.

Good luck however Matt! Hope it works out great for you!!

That was to make sure no one had access to the building once word got out
How long did it take everyone to get their tools out of the building??

I worked at a place that got locked down by the Feds for failure to forward payroll tax withholding
to the government.  Federal padlocks and Federal Marshalls on the door.
It took me 6 weeks to get my toolbox back
I was young and new in the business... no one would hire me without tools cause they thought I was FOS
about not having a tool box
Tough times

[RobertELee]

Seen it all different ways. One place I worked at (quit about a year prior) was bought out and the buyers claimed they wouldn't change anything. The first week there was a sign on the door when people arrived saying the location was closed and everyone laid off. Turned out they purchased it just for their patentented processes and military contracts.

Good luck however Matt! Hope it works out great for you!!

That was to make sure no one had access to the building once word got out
How long did it take everyone to get their tools out of the building??

I worked at a place that got locked down by the Feds for failure to forward payroll tax withholding
to the government.  Federal padlocks and Federal Marshalls on the door.
It took me 6 weeks to get my toolbox back
I was young and new in the business... no one would hire me without tools cause they thought I was FOS
about not having a tool box
Tough times

No clue. I wasn't working there at the time. Heard about it from another shop owner in the area.

[Rstewart]

Our company (defense contractor) sold out last year to an Alaskan group.  Allows us to sole source some things and bid on minority only stuff.  They literally haven't changed anything to the negative.  Not mgmt changes, insurance (not that I take it) pay, or even our name as a company.  It was a great move as a business.