SEWN Saves 40 Jobs for our Region
Bells Are Ringing Again At Schulmerich
An infusion of cash and energy from a competent outside investor is often the key to a successful turnaround for a stressed company. That is the case for Schulmerich Carillons and Jonathan Goldstein. SEWN initiated the transaction and advised in process that lead to new ownership and a new lease on life for a family business that had suffered from lack of consistent attention from its absentee owners.
As part of his estate planning, the original founder of the Bucks County hand bell and electronic carillon manufacturing company placed several of his businesses in a family trust.
Schulmerich was being unsuccessfully run by a caretaker management team on behalf of that legal trust. Sales had declined consistently over several years, workforce reductions had occurred several times and the company’s once unquestioned market dominance had been eroded.
In almost every case, the SEWN turnaround strategy includes re-positioning the business for growth. Outside investors often provide the quickest and most cost effective plan to making the transition happen. They not only bring the new financial resources required but often the needed cultural change that lifts the company out of its de-cline as well. Jonathan Goldstein is the kind of investor that works very well within the SEWN parameters for an investment partner. In Schulmerich’s case, Goldstein’s outright purchase of the existing business’ assets was the best option for going forward with the turnaround.
Goldstein has also tapped into the SEWN services of new business development/sales and marketing plans and manufacturing operations refinements. Changes included closing the administration building and moving the entire operation into one streamlined manufacturing facility; modernizing equipment; and aligning production flow to maximize throughput. SEWN also brought in the World Trade Center, to assist in addressing neglected sales opportunities in certain international markets.
The biggest change that Goldstein has introduced has been the renewed feeling of pride and ownership among the employees. Rebuilding the brand identity began immediately with a new web site, logo and collateral. Restoring lost customer relationships has helped solidify the foundation for new business development. The introduction of new digital technology into the expanding worldwide carillon market will help bridge the marketing gap between old line impressions and new state-of-the art images of a revitalized company. Sales at Schulmerich are now growing again and the company is rapidly reclaiming its former leadership role in the hand bell and electronic carillon industries.