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What entrepreneurs make and manage, not
what economists measure, is the real economy.
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George Gilder |
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CASE STUDY: DeZURIK
Water Controls
Established in 1932, DeZURIK Water Controls had a proud history
as one of the leading manufacturing companies in Central
Minnesota. Since that time the company was known as a leader in
the municipal water and wastewater valve market. Over decades
the company passed from family ownership to corporate ownership
and eventually became a small division of a large, publicly held
corporation that decided to sell the business.
Granite Equity contacted the sellers to gauge their
interest in selling the business. Upon further inquiry,
it became known that the company had endured high senior
management turnover in recent years and suffered some ill
effects from these changes. Granite contacted Al Kremers, a
retired executive and industry veteran who had spent more than
40 years of his career with DeZURIK, to gauge his interest in
leading a buy-out of the business.
Kremers assembled his former team, affectionately dubbed his
“Ocean’s Eleven,” for one last, big job. The Granite team
emerged as the top bidder for the business which culminated in
the DeZURIK Water Controls purchase in early 2005. They hit the
ground running, establishing clear direction for the company.
Margins increased, employment stabilized, the market regained
confidence, and profits returned to the business.
In several ways, the DeZURIK experience epitomizes the
Granite Mission, helping an
important community business transition to a more successful
future.
DeZURIK Water Controls is a
market leading designer, manufacturer and distributor or valves
and controls to the water and wastewater industry throughout
North America and across several continents.
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