“They informed us in October and we went to work. There was no way a supplier in China could have done that. The customer would have lost those sales,” Warren said.
The old companies that acquired Toner thrive under the organization’s umbrella, Warren said. Beadery’s sales increased 56 percent year over year, both in older products like personalized pearl bracelets and in new products like storage boxes for arts and crafts and jewelry.
Warren attributed the success of The Beadery to General Manager Joe Ritacco, noting that the company has gradually added 12 hypodermic syringes.
Modern Mold’s sales in mold construction increased by 51 percent. He also noted a 34 percent increase in medical molded parts sales and continued growth at the Ormond Beach, Florida facility. Warren credited Leo Ruberto, the unit’s process engineering manager, for implementing an ambitious 5S model of continuous improvement.
Warren said he is always on the lookout for new acquisition candidates with the goal of turning Toner into a $ 100 million company within five years.
“I am currently looking at three possible acquisitions,” said Warren. “We love adding talented people and companies who can add to our business from day one by continuing to do what they already can.”
As a privately held company, Warren said Toner was able to streamline its due diligence process to make these transactions easier for small businesses – companies with annual sales near $ 10 million.
He said finding talented people can be a problem for a growing company.
“We need technical staff, mold processors, plastics engineers and profile extrusion experts, and salespeople and sales managers – people who can run a business and share in our success,” said Warren.