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A lot of the operational improvement that gets implemented is really driven by the front-line workforce — the people in sales, customer service, working in the plant. And so it’s a way to have them share in the upside but also to drive much greater engagement at that level in whatever priorities that we’re trying to deploy.
Explaining to people how lean transformations at a factory correspond to what happens to our cost of goods sold and our earnings and our stock price, that’s kind of the change in thinking you want to get people bought into.
Growth in this business is driven by exposure to emerging markets, and we'd plan to keep expanding that. One of the neat things about this company is that it's very diversified already in terms of geography, with a significant presence in Latin America, China and the Middle East. In many of those regions there is an increasing use of pharmaceutical and dietary products, so we see a long-term secular uplift from that.
In our industrial manufacturing companies, we have endeavored to give everyone an opportunity to participate in the benefits of ownership of their business as we believe it drives a higher level of engagement which can drive break out results.
Private equity is all about alignment. You put the right incentives in place and do the broader engagement work to show people you actually care, and the results start to pour out.
The core competency of this business is really around engineering quality and manufacturing-related services. It's selling to the companies selling to the healthcare market, kind of as a B2B play.
Treating employees like owners and business partners—that’s how you can create value and make this more than just a feel-good story.
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