Machine Shop Mastery

58. How to Find, Buy, & Grow a Shop with Mike Fritz from Quick Tek Machining Part 2 In this Part 2 episode with Mike Fritz of Quick Tek Machining, we first learn about the factors that make a shop saleable and valuable. Mike then shares his process for deciding what type of shop to buy, where the sources of possible deals are, and which specific shop he wants to buy. Then how to value the business and structure the deal.  We then discuss how to structure the team and org chart so that he can rely on a team to run the business while he finds the next company to buy.  It’s a simple and scalable model that anyone can follow to get into the industry, or grow within the industry to generate significant value for their shareholders! About Quick Tek Machining: QTM is a fast growing machine shop that serves many different industries including robotics, automotive, boating, motorcycles and more. Follow Mike and Quick Tek Machining on Social Media: Personal LI: /mikefritzrealestate Company LI: /quick-tek-machining

57. Buying 4 Machine Shops in 2 Years with Mike Fritz from Quick Tek Machining Before Mike Fritz bought Quick Tek in 2022, he had been a speaker and consultant on building high-performing teams. He’s taken that skill set and decided to go all-in with the precision machining industry. After buying Quick Tek, he has quickly bought 3 more additional shops in the next 2 years. His approach is a model for how an outsider to the industry can have huge success, even without being an expert machinist. Mike is completely transparent about how he’s approached this and why he’s so passionate about supporting and building manufacturing companies.  This is a can’t-miss episode, and it only part 1.  Join us soon for part 2 as well! About Quick Tek Machining: QTM is a fast growing machine shop that serves many different industries including robotics, automotive, boating, motorcycles and more. Follow Mike and Quick Tek Machining on Social Media: Personal LI: /mikefritzrealestate Company LI: /quick-tek-machining

56. From Startup to Industry Leader with John Newman from Athena Manufacturing Paul sits down with John Newman from Athena Manufacturing, a 200-person machining and fabrication company in Austin, Texas. John shares his remarkable journey of growing two successful companies in the manufacturing industry. Starting with a small six-person shop in 1995, John and his partner Bill Johnson scaled their first business to 100 employees in just 17 months. After selling the company and briefly retiring, they found themselves back in the industry, building Athena Manufacturing into the thriving business it is today. John delves into the challenges and successes they faced, emphasizing the importance of financial controls, job costing, and building a strong company culture. He also highlights the critical role of continuous learning and workforce development in maintaining a competitive edge. John’s enthusiasm and dedication to the industry shines, and he offering valuable lessons for anyone looking to build or grow a machine shop. Don’t miss this inspiring conversation filled with practical advice and stories of resilience and innovation! About Athena Manufacturing: Athena Manufacturing offers precision machining, precision fabrication, mechanical assembly and mechanical design services. Our customers include prime Tier-1 OEMs in the aerospace & defense, semiconductor equipment, and many other industries. Follow John and Athena Manufacturing on Social Media: Personal LI: /john-newman Company LI: /athenamfg Website: www.athenamfg.com

55. High Spindle Uptime & Happy Employees with Nathan Byman from Wolfram Manufacturing Before Nathan Byman started Wolfram Manufacturing in 2011, he learned a lot about what he liked and didn’t like about machining and management, at other businesses.  He’s taken the best learnings (and a TON he’s learned since) to make Wolfram into a fast-growing powerhouse business that is extremely focused on technology, making chips ALL the time, and having very happy employees, who in turn delight their customers.  That’s turned into a software product called OnTakt which helps them manage all the details to get that super high spindle utilization. It’s a powerful and winning formula that you’ll want to learn more about. Enjoy the conversation. About Wolfram Manufacturing: Wolfram Manufacturing Technologies develops, distributes, and integrates advanced technologies that enable manufacturers to run CNC machines more profitably with less operator attention. Wolfram utilizes the advanced technologies they offer daily in their production CNC shop. They are the exclusive Caron Engineering integrator for the Western US. In April of 2022, Wolfram released its software, OnTakt, a machine monitoring and production management software that systematically and permanently reduces machine downtime. Wolfram Manufacturing Technologies has an open-door policy, inviting customers and prospects to see the technology in action their Production Technology Center. Follow Nathan and Wolfram Manufacturing on Social Media: Personal LI: /nathan-byman Company LI: /wolfram-manufacturing-technologies Website: www.wolframmfg.com FB: @WolframMfg IG: @wolframmfg X: @WolframMfg

54. The Virtues of Niche Manufacturing Excellence with Matt Gustafson from Clinkenbeard Matt grew up on the shop floor of Clinkenbeard, a business his father bought in the late 70s and he became a pattern maker. He is now the President and leads this incredible AS9100-certified company that specializes in highly complex 5-axis machined parts and highly specialized training devices for the defense and space industries. Picture a full-scale, 100% realistic model of an F35 engine for use by technicians learning to service these engines in the field. Super cool! And lucrative! While Matt doesn’t disclose their margins, they have exceptional revenue per employee, no doubt affected by their aggressive adoption of technology to increase efficiency, but also their specialization in niche industries where that specialization puts them in a great position to have strong financial performance. About Clinkenbeard: Since 1966 Clinkenbeard has served industrial and aerospace OEM’s with rapid turnaround complex machined parts and assemblies. We are a worldwide leader in the rapid prototyping and production of complex cast and machined parts and have the internal resources and the engineering horsepower to tackle large, complex problems with concurrent manufacturing engineering support. Follow Matt and Clinkenbeard on Social Media: Personal LI: /matt-gustafson Company LI: /clinkenbeard Website: www.clinkenbeard.com FB: @ClinkenbeardM2M X: @Clinkenbeard

53. Father & Son Fun = Success at Mactech with Joel and Luke Wittenbraker from Mactech Mactech is a fascinating business that specializes in on-site machining services and equipment.  It’s a very different type of business than a traditional machine shop where all work is done in a facility.  Their company history is a fascinating one, and a fun one, where we learn that hard work and fun can go hand in hand with great success. Learn about this great story and company in this entertaining episode that will surely leave you smiling! About Mactech: Mactech is one of the world’s foremost providers of on-site machining services, on-site heat treating services, and stress-relieving equipment. Mactech provides both products and on-site services for major industries worldwide including petro-chemical, pulp and paper, power generation and ship-building. Our key strength is the ability to assist you with routine and specialty applications – our on-site solutions team can handle any task and will develop solutions from start to finish. Mactech’s excellent reputation for short lead-time and quick response is unsurpassed in the industry. Follow Joel, Luke and Mactech on Social Media: Joel's Personal LI: /joel-wittenbraker Luke's Personal LI: /luke-wittenbraker Company LI: /mactech-on-site Website: www.mactechonsite.com FB: @mactechonsite

52. From Founding to Exit with Keith Bernardo from M&K Engineering The M&K Engineering story is a fantastic American Dream Story.  From immigrant founding parents, to the kids taking over the business, leading to an eventual successful exit to a much larger manufacturer.  Keith digs in deep on their story and the decisions and strategies that they employed to grow the team, the culture, and the client base. It becomes clear throughout the interview, why M&K was so successful. From learning from consultants and mentors, to their fanatical focus on culture, to intentionally building their vertical manufacturing capabilities, this is a brilliant study on how to do it right.  Get your notepad out and enjoy this episode with Keith Bernardo. Follow Keith on Social Media: Personal LI: /keith-bernardo Company LI: /blue-zone-capital-partners Website: www.bluezonecapitalpartners.com

Mark Heston, President of Colinear Machine, shares the remarkable journey of boosting revenue through strategic investments and fostering team cohesion. He discusses the challenges of meeting aerospace industry demands, efficient planning, pricing strategies, and navigating organizational changes. The importance of niche expertise and core competency in the machining business is highlighted.

50. From Tragedy to Rebirth with Ashley Parent of Mills Machine Works When Greg Mills was diagnosed with cancer, he had only a few months to live. His children, Ashley, John and Megan decided they wanted to carry on the family legacy that their dad and mom had started. So they jumped into learning as much about the business as they could, with the precious few weeks that their father had left. From that challenging transition comes a story of rebirth of what Mills Machine Works would look like in the future. Ashley shares the inspring and personal family story and her journey to become the president of their family machine shop. About Mills Machine Works: Mills Machine Works, inc. is a second generation family owned Machine Shop based in Lawrence, MA specializing and prototype and short run production CNC milled and lathe parts for the Defense, Space, Aerospace, Medical Device and Semiconductor industries. Follow Ashley and Mills Machine works on social media: LI: /millsmachineworks IG: @millsmachineworks Website: www.MillsMachineWorks.com

 49. Origins, Growth, and Lessons from a $60M Machining Company Matt Wardle is the president and owner of JD Machine, a three generation family-run precision machining business in Ogden Utah with over 200 employees and doing $60M in revenue. Originally founded by his father, and now with Matt’s kids coming up in the business, JD Machine has realized huge success by focusing on their 4 key systems, core values and culture, and a continuous improvement mindset, among others. They’ve also endured some very challenging times - such as after 9/11. But with hard work and belief in the future, Matt and his team are now leading a very aspirational business that you’ll want to learn more about. Enjoy the episode!! About JD Machine: Founded in 1979, JD Machine Corp. is a world-class precision machining & fabrication shop that manufactures high value machined parts, sheet metal components and complex assemblies. JD Machine’s core services include: CNC Machining, CNC Turning, CNC Milling, Sheet Metal Fabrication and Assembly and Testing. JD Machine’s expertise spans a wide range of applications and industries with the ultimate focus on providing world-class precision machining services that meet and often exceed customer expectations. Follow Matt and JD Machine on social media: Personal LI: matt-wardle-a7a73014/ Company LI: /j-d-machine-corp. Website: www.jdmachine.com FB: /JDMachine X: @JD_Machine