Short’s first acquisition was Updike itself, in 1995. Although each acquired company’s identify eventually was folded into the Updike umbrella, Short said in each of the five acquisitions he preserved local jobs and the local “legacy” of the companies being bought.
His other acquisitions included Klin Co., Auerhammer Tool and M. D. Larkin Co. Today, privately held Updike has 40 local employees total. H.D. Geisler has six employees.
“We kept everything here in the Miami Valley,” Short said.
Short, the 100 percent shareholder/owner of Updike, declined to disclose the terms of his latest or his past acquisitions. But he said they’ve been amicable and they often involve business owners looking to retire. He’s most interested in companies with complementary product mixes and the right culture.
Acquiring a metal former and metal stamper like Geisler made sense, he said.
Cindy Snyder, H.D. Geisler president, said in a statement announcing the acquisition: “I am extremely pleased that H.D. Geisler is now part of the Updike Supply family as we share common values and culture and I am confident that Updike will continue to grow the company to new levels.”
Though Short said he is not in hiring mode — he said he has very little employee turnover — he said today Updike is “100 percent” focused on manufacturing, and he believes the fact that the company has weathered the recent recession says much.
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