Hoffman Becomes Sole Owner of M&R
Rich Hoffman, president and CEO of Glen Ellyn, IL-based M&R, has acquired all of the company’s outstanding shares The process, which Hoffman says has been going on for close to one year, makes him M&R’s sole owner. M&R’s US operation previously had three shareholders.
“Having a company with multiple shareholders always brings conflict,” Hoffman explains. “Some shareholders want short-term results, while others take a longer look forward. This causes delays in reacting to market change, as well as delays in how to structure for long-term growth.”
Hoffman indicates that M&R is about to expand the production capabilities of its European manufacturing facility and increase the staff at the company’s Austria office in order to keep up with European demand for M&R products. “Likewise, our regional office in China expanded machine and parts inventories to keep pace with strong sales in the Asian market. Increased sales haven’t been confined to Europe and Asia. Strong growth in North and South America continue to keep our plants in America operating at full capacity.”
According to Hoffman, sole ownership will give M&R the ability to move quickly and decisively in a constantly changing market. “I fully expect M&R to continue expanding its lead as the world’s largest manufacturer of screen-printing equipment. The only direction we’re going is up.”