Mark Seigle of Seigle’s Cabinet Center was recently featured in a Tribune article illustrating a trend of business owners who initially sold their businesses only to buy them back in the end rather than see the brand disappear under new ownership.
In 2005, Mark Seigle and his brother Harry sold Seigle’s Building Centers to Stock Building Supply after owning the home-building-supply business for over 60 years. The company had grown to $350 million in sales and 1,300 workers at 11 locations before being sold
Not willing to see the company disappear under the new ownership, Seigle eventually bought back the cabinetry arm of the business in July of 2009. Concern about saving the jobs of the company’s employees was an important factor in making the decision to buy back the cabinetry division. Many of these were career employees who had worked for the company for decades and were about to lose their jobs. His new company – name Seigle’s Cabinet Center – was able to save 23 of those jobs with the promise of saving more.
Seigle formed an alliance with PRO-Build – a supplier of lumber, windows, trusses and doors – and saved an additional 40 to 50 sales and management positions. Currently, Seigle’s shares three Chicagoland locations with PRO-Build, including Wheaton, Yorkville and Chicago at North and Clybourn. The headquarters and distribution center is located in Elgin.
Making this business successful came down to the fact that Seigle always adapted a hands-on approach with employees. He was comfortable on his own turf and knew everyone by name. While the lack of involvement may have been what caused business under the new ownership to suffer, Seigle’s personal interaction solidified his business relationships and ultimately made the business successful.
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