Jay Sachetti joined Jeff O’Brien, partner at Husch Blackwell and Dyanne Ross-Hanson, president of Exit Planning Strategies talked about the market for mergers and acquisitions, exit planning opportunities for companies that don’t end up for sale and how companies can maximize their eventual sale price during an early October panel at the first Upsize on Tap event at Summit Brewing Co. in St. Paul.
When the state Legislature passed a law requiring employers to provide paid leave and safe time for employees, Justin Bieganek started hearing differing details from friends, colleagues and peers.
by Beth Ewen Line Drive Sports, Lino Lakes, wants to expand into new areas of sports training — adding basketball, weight training and hockey to its foundation of baseball and softball. To do so, President Tom Imdieke knows he’ll need to clean up his finances and take care of debt.
Midwest EAP Solutions, St. Cloud, is an employee assistance program whose founder wants to step back from the business in 2010. Douglas Adamek, CEO, has charged his management team with reaching a major financial goal first: to increase revenue by 20 percent each year for the next five years. Along the way, they want to show him they’re ready to take more responsibility.
Spray Control Systems, Blooming Prairie, makes plastic accessories for trucks and is growing at a fast rate — so fast that President Craig Kruckeberg feels that he’s losing control. He wants to make smart decisions about adding warehouse and office space, purchasing equipment, and possibly making acquisitions.
The three companies are the winners of this year’s Upsize Growth Challenge. Their entries were selected by judges for the complexity of the growth goal, the quality of work already completed to meet it, and its relevance to the readers of Upsize magazine.
Judges made selections in February and represented Upsize magazine and the contest’s six sponsors, plus two from the Twin Cities business community: Anne Rodenberg, WomenVenture, ar********@**********re.org; and Mike Ryan, Small Business Development Center, University of St. Thomas, mp****@******as.edu.
Winners receive the opportunity to participate in two workshops with experts, who share advice to help them reach their growth goals. Coverage follows of the first workshop, held in March at presenting sponsor Clientek’s Minneapolis offices. The second workshop, to convene in May, will be covered in the August issue.
Winners will share their stories, and the audience will vote for the overall champion, at the Upsize Growth Challenge Seminar & Celebration, June 13, 7:30-10 a.m., at the Metropolitan Ballroom in Golden Valley. Visit dev.divistack.com to register.
About the experts
Experts at the first workshop represented each of the six sponsoring companies. Kirk Hoaglund, Craig Vosper and Nathan Johnston, technology experts, Clientek: 612.379.1440; ki***********@******ek.com; www.clientek.com. Mary Korthour, telecom expert, Eschelon Telecom Inc. in Minneapolis: 612.436.6093; mj********@******on.com; www.eschelon.comElin Raymond, marketing expert, The Sage Group in Minneapolis: 612.321.9897; er******@*****rp.com; www.sagegrp.comDuane Thompson, accounting and operations expert, EideBailly in Bloomington: 952.918.3508; dt*******@********ly.com; www.eidebailly.comMichele Vaillancourt, legal expert, Winthrop & Weinstine in Minneapolis: 612.604.6681; mv***********@******op.comRick Wall, finance expert, Highland Bank: 952.858.4753; ri*******@***********ks.com; www.highlandbanks.com
Cannabis-based products have been increasingly available in Minnesota over the last six years. The opportunities in that space became even more prominent last year when the state legislature voted to become the 23rd state to legalize adult recreational use of marijuana for Minnesotans over 21.
When Super Bowl LII was played at U.S. Bank Stadium in February 2018, Alex Tittle didn’t play a down on the field, but he had more than three-years of impact on the experience.
Unemployment in Minnesota sits below 3 percent. Labor market participation is high. Airport traffic counts across the country are approaching and even surpassing pre-pandemic levels, so consumers are still spending money. Consumer confidence, reportedly spurred by the strong labor market, also seems at least cautiously on the rise.
