Badger Magnetics, Inc.
Address: 7939 W. Tower Ave., Milwaukee
Year founded: 1955
Product or service offered: Design, engineering and manufacturing of wound magnetic products including transformers, toroids, inductors, coils, chokes and reactors. We also manufacture rotary speed sensors, resistance sensing relays and battery chargers.
Projected 2014 revenue: $13 million
President and CEO: Jim Beckman
Target clientele: Original Equipment Manufacturers servicing many industries including power conditioning, transportation, oil and natural gas exploration, medical devices, wind and solar energy, military, industrial equipment, electronics, mining, heavy equipment, sanitation and power inverters. Badger Magnetics also sells specialized products directly to mining companies.
Business organization memberships: Chief Executive Network, TEC, MMAC, WMC, The Transformer Association, CBMC
What has fueled your company’s growth? “Acquisitions, the growth of our existing customer base, and new customers needing custom electro-magnetic products.”
What is the biggest obstacle to your company’s growth? “The economy.”
Do you plan to make any changes in your company in the coming months? “We expect to identify and acquire a company in our industry.”
Who are the business people, locally or nationally, whom you admire? And what traits do those people exhibit that make you admire them? “Vince Lombardi, for his relentless pursuit of perfection and success. Even though he didn’t have to deal with the business side of football much, his leadership skills and goal setting are timeless.”
What is the outlook for the business conditions of your industry over the next several months? “Certain industries we service are currently expanding rapidly while others are flat, resulting in overall moderate growth.”
What is your company’s most important growth strategy right now? “Acquisitions.”
