Kambium, we are essentially a mill workshop. We are engineering machining components for other commercial applications with some assembly capabilities. I've owned Kambium for about a year and a half, and I came to the U.S. in 2004 and worked in the financial services industry for about 15 years, and I was looking to do something on my own. I probably looked at over 200 plus businesses, so as I got serious with Kambium, before I even submitted an LOI, my first call was actually to Old National Bank.
Often times we're gonna be financing people who have always had a dream about purchasing a company. That's where we can kind of come in and be able to walk them through that process. We'll be able to talk about terms, talk about structure, make sure they're not getting themselves into trouble with any red flags.
Kalen and the team from the very get go were super supportive. They knew what kind of prices these businesses would be appraised at, what they would sell at, so they were able to guide me a little bit on that front too. And then they had very good insight into what kind of financials would it take from a day-to-day running of those businesses. So they were able to guide me from step one of when I was submitting the LOI to all the way to getting that financing.
It was a two-year process, right, and in that two-year process at some point my wife got pregnant with our second kid. As a parent I start getting doubts in my mind. I would call Kalen or you know someone at Old National. Even on a Saturday night I'll shoot them a text, and they almost were like my personal therapist I would say.
We're going to be there on all different fronts, so we want to be able to be there for that transaction but also be able to provide them on Treasury Management services, all the depository stuff and actually help them kind of walk through how to operate a company. So it's a lot of us working with them to determine do they need ACH, do they need other Treasury Management services such as wires and stuff like that.
Is your bank a true partner?
In business, you want a financial partner that has providing solutions to fit your best interest ingrained into the company culture. A place where going the extra mile is business as usual. For over 185 years, Old National Bank has been your bank for business.
I think the future looks really good, so what we've been really like my main emphasis over the last year and a half has been to try and instill the best practices in manufacturing within this facility. So we've been investing a lot in lean manufacturing, we're trying to figure out more ways of automation and just improving the process, so that we can make Kambium the most cost-effective manufacturing facility that is around.
Someone asked me the other day, like what is it that drives you most now? Just being able to have such a positive impact on the lives of so many different people and being able to create a product from scratch and take it forward. I think that's been the biggest satisfying feature of being able to buy this business.
Copyright © 2019 ONB