In 2020, we—Ted and Beth Bunton—purchased Troy Chemical Industries from Lee Imhof. However, our history with the chemical industry and the Imhof operation dates back many years.
At a recent Geauga Economic Leadership breakfast, we shared our story and how our paths intertwined with Lee’s. We also offered some words of advice that have helped Troy Chemical weather difficult times since its founding in 1971.
Troy Chemical Industries (TCI) was started by Lee’s parents, David and Joyce, alongside investors Bob Bunton (Ted’s father), Joe Feldott, Bruce Jensen, Bob Lindemann, and Joe Nascone. Five years after its inception, they built a plant to manufacture products for metal pretreatment, powder coating, toll blending, and general industrial use.
Lee grew up immersed in the business, working in the labs, mowing the lawn, and eventually learning the ropes after attending Ohio State University. He faced challenges along the way, such as when the steel mills in the region closed, forcing him to find new markets for TCI’s products. Over time, Lee took over the operation, but the next generation of the Imhof family had different plans, which didn’t include continuing with TCI.
Lee contemplated retirement, but he felt responsible for the business and its employees. That’s when he started thinking about selling, and we expressed interest in keeping the company going.
“We felt the company needs to go on. Ted and Beth were interested,” Lee said, reflecting on his decision to sell to us and his concerns for the employees’ futures.
I had been working at TCI since 1992 in the metal pretreatment area, and Beth had co-founded Bunton Industrial Solutions in 2014. With Beth joining as part-owner of TCI, we also became a female-owned company, which allows our customers to earn valuable minority purchases that satisfy government regulations.
Our family history and connection to the Imhofs have deeply rooted us in both the industry and TCI. “My dad was one of the original five (TCI investors), and I had the pleasure of knowing the Imhofs,” I said, reflecting on how it felt like a natural decision for us to take over the company.
We had only owned TCI for a few months when COVID-19 hit, and our lives changed abruptly. “Some industries were impacted more than others,” I recalled. The pandemic brought new challenges, from taking employees’ temperatures daily to trying to sell products without meeting customers in person. It was a trying time for all industries, and we felt stretched thin.
I even joked with Lee, asking if he’d buy the company back. He laughed and said, “No,” but encouraged us to “just go compete.”
Thankfully, we weren’t alone. Beth credited Geauga Growth Partnership (GGP) for helping us navigate through that challenging first year. Lee had referred us to GGP, where we found invaluable networking and resources, especially when it came to finding new employees. “Bonnie Troyer put me in touch with human resource companies. GGP’s resources have been amazing,” Beth said.
Despite the challenges, we made it through 2020. “We had to pivot,” I said, noting that prospects weren’t as plentiful as they had been. But just when we were asking ourselves, “Now what?” a large company reached out, and we began producing products for them. This new partnership grew, allowing us to invest in a new filling line and sustain the business during an uncertain time.
“We were not made for that kind of volume, but it helped sustain the business in 2020. Now, we are back to our core set of principles,” I said, explaining how the company is expanding its sales team and growing its toll blending program. “COVID crystallized for us what our core strengths are,” Beth added.
One of our greatest strengths has always been our employees. Many of our team members have been with TCI for over 20 years. With help from GGP, we’ve focused on understanding the needs of the next generation of workers and training our current employees to feel more vested in the company. “Get the right people in the right spot and let them go,” I said, emphasizing the importance of trust and preparation.
“You never know when an opportunity will turn into a career,” I added.
The transition from being an employee to becoming owners has required us to adopt a new mindset and some self-reflection. “It’s fun, scary, and rewarding,” I said, acknowledging that Beth’s role changed the most, but she’s found her stride.
“What the transition taught me was when there’s a challenge in front of you, you can problem-solve. You need to get your hands dirty—be a sponge,” Beth said. “Understand what you are trying to accomplish and go for it.”
