In August OneAccord Capital announced its acquisition of Graphic Label, Inc., a small business based in Yakima, WA focused on providing solutions for the fruit and produce industry. Since that time OAC has been hard at work to fulfill the promise of preserving legacy while seeking to expand and grow the business.
OneAccord Capital is reaching the end of its strategic planning work, which is creating the path to growth for GLi. In addition to updating the company’s website and logo, the past few months have found the new owners visiting GLi’s customers in person to discuss the transition face to face. Reactions from these customers have been a mixture of positive and reserved—some want to wait and see if OAC will deliver on their promises before celebrating the new era of GLi, a highly customer-oriented business. These in-person meetings have many advantages, not the least of which is the ability to get feedback on the current state of service. This has allowed OAC to proactively implement immediate changes to anything that wasn't delighting customers.
OneAccord Capital has also spent a great deal of time with one of the business' major suppliers, Markem-Imaje, moving their relationship forward to a strategic level that will open doors to servicing the entire west coast, expanding GLi's current reach.
So far there have been few changes to the actual business—OAC isn’t interested in changing the business. The goal is to complete strategic planning, implement the plan and focus on growth.
Preserving the GLi Legacy
One of OAC’s core values is preserving the legacy of baby boomers who have built solid businesses and want to do right by their employees, vendors, clients and community. What this means in practice includes keeping the company’s name as well as its original employees. OAC hasn’t laid off a single person from the business, as promised, and has hired one new employee so far—a salesman to help spur growth.
Preserving legacy also means keeping the previous owners’ commitments to the local community. Last week, GLi announced a new $5,000 scholarship to Yakima’s Perry Technical Institute for students pursuing technical training.
“Graphic Label plans to hire new people right here in Yakima as we grow our business throughout the Pacific Northwest and beyond,” said GLi's chief executive officer, Max Clough. “We’ve had great success hiring Perry Tech graduates, and we know that great educational institutions are key to the health of any community. We’re proud to be able to offer our support.”
The Search Continues
The story of GLi is a case study for how OneAccord Capital’s values play out in the real world. With so many baby boomers looking toward retirement, the need for buyers who will understand their values and preserve their legacy is growing. OneAccord Capital will continue acquiring businesses with the intention of growing those businesses without sacrificing legacy. If you or someone you know is interested in learning more, contact OneAccord Capital at firstname.lastname@example.org.
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