How Belfor Grew to Be #1 in Disaster Recovery
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BELFOR is one of those big, successful companies will never hear about a lot.Private sector, the global giant disaster recovery over 1 billion dollars in revenue and grew up in an office in Dearborn, Mich., opened in spring 1980, more than 400 locations worldwide. Chairman and CEO Sheldon Yellen refers to two key areas Belfor who grow and prosper, the company and have - a strong corporate culture focused on people, and a feel for the market and the successful integration of similar businesses. Secret Boss Yellen is CBS, Sunday at 9 clock ET / PT .*
Some of the acquired companies Belfor significant position in the destruction of the repair, and other ancillary services, such as kitchen vent cleaning company Hoodz Ductz heating ducts and clean. Affiliated companies are often a source of references for companies Belfor nuclear disaster prevention. Reported last year, President and CEO Sheldon Yellen, the company acquired 11 companies in general, and two other offers are expected to be completed in early 2011.
But this is an unusual thing: 97 percent of all entrepreneurs that lead their markets are still with the company.
"All operators we have sold our companies remain on the payroll all the time," he says, "running local activities. We had a view of private try equity firms to buy a company Belfor and can not believe it."
The secrets of successful acquisitions
Well, in each of which includes mergers and acquisitions, most entrepreneurs to make a path from a large company who had bought some 18 months after the signing of transactions. They tend to chafe is the trigger for a bicycle company, and found usually head to another small business. Or even worse, not simply provide the new company and turned back by the company - think AOL (AOL) and Time Warner (TWX).
Belfor How to keep almost all the brain behind the acquiree done on board, Yellen said Belfor unique corporate culture that promotes a strong hand and acknowledges the ideas from the field. Central has a slim, only 50 managers to monitor the company was 6000, so that Belfor has not risen to a level that middle managers are often strangle the company is growing frustrated as a company and running out the door.
It is also a way of thinking by Belfor the acquisitions approach. Yellen says, think of what to buy for people - experience and knowledge of local markets - like the purchase of equipment.
"What is good to acquire for the company? No numbers," he says. "I sit in front of a man [to sell the company], and always in his heart left him inside If there is a problem, it will not be processed You never get a good deal a bad person -.. I do not care can be influenced as something cheap. "
Yellen is set so excited about Belfor culture right in the final inspection. He visited the place in disguise and the CBS television show Undercover Boss, even if they see the company's valuation. What he saw made him most proud.
"I congratulate our people," he says, "because it is the best. Penetrates our culture really the entire organization and relies on quality people bring.









