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Van Meter History & Company Tour

Thank you for joining us for a look into Van Meter's history and Company Tour. Make sure to click the fullscreen icon in the bottom right corner of the screen to make the picture larger and use your mouse or arrows on the keyboard to move forward.
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Jenn Bleil

on 26 October 2016

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Transcript of Van Meter History & Company Tour

On May 12, 2011, Van Meter was selected by The ESOP Association as the 2011 ESOP Company of the Year. The award was presented at the Association's 34th Annual Conference in Washington, DC. The ESOP Association is the national trade association for companies with employee stock ownership plans (ESOPs) and the leading voice in America for employee ownership.
The Journey
Van Meter
The Beginning
Founded in May 1928
In 1933, Mr. Van Meter entered a business relationship with Allen-Bradley Corporation.
-Owned by Rockwell International Corporation
-Known as Rockwell Automation

Today Van Meter is still an exclusive Allen Bradley distributor.
A New Partnership
1973-Waterloo Branch Opens
1981-The Van Meter Company is purchased by Jim Hoke. Jim had been an employee since 1964.
New Owner
Using the motto, "Service is our first thought," R.L. Van Meter and R.W. Pete Lemley founded Van Meter.
R.L. Van Meter
R.W. (Pete Lemley)
Van Meter and Lemley began in a 3,200 sq ft building located at 6th St. and 4th Ave in Cedar Rapids. This was the old location of Wymer Funeral Home.
Cedar Rapids in 1928
-A gallon of milk was 56 cents
-A 3 bedroom home was $4,800
-Herbert Hoover was President
-A normal work week was 6 days a week/12 hours per day
-Cedar Rapids had no refrigerators only ice boxes.
-Downtown had 3 hotels: The Roosevelt, The Montrose and The Allison
Did you know?
The original Van Meter building was the first building West of the Mississippi to have fluorescent lighting.
Wage: $20/week
Wage: $25/week
Leadership Change
1951- Pete Lemley became President after the passing of R.L. Van Meter
1968 - David Clark, Vice President at the time, purchased the company from Pete Lemley
Cedar Rapids Service Center Opens
1981- Cedar Rapids Service Center opens on 33rd Ave SW.







1995- A 45,000 sq ft addition was added to the building making it 70,000 sq ft.
Growth
1986- Des Moines Opens
1990-Carroll & Ottumwa Open
Growth
Did you know?
In the early 90's The Van Meter Company began doing business as Van Meter Electric Supply Company.
Growth
1995-Sioux City & Iowa City Open
Merger
1996- The Van Meter Electric Supply merges with Industrial Engineering Equipment Company and Industrial Engineering Sales Company. The name of the new combined companies became Van Meter Industrial, Inc.
Growth
1997- Acquisition of B.L. Robinson Electric Supply Company in Burlington and Mutual Electric in Muscatine

Transition of Presidents
1997- Jim Hoke retires as president of VMI. Jim Schmitt takes his place.

On June 1, 2003, Jim Schmitt handed over presidency to Barry Boyer. Barry started with VMI in 1993 as Sales Manager for Cedar Rapids. He also held the role of COO (Chief Operating Officer) before taking on the role as president.
A Joint Venture
In 2001, Van Meter Industrial entered a 50/50 joint venture with Werner Electric Supply, based in Wisconsin, to purchase Northland Electric Supply Company now known as Werner Electric of Minnesota.
A Joint Venture
Werner Electric of Minnesota consists of seven branches:
Cottage Grove (Corporate)
St. Cloud
Owatonna
Mankato
Eau Claire, WI
Rochester
La Crescent, MN
As part of the Joint Venture, Van Meter has shared services that support both companies.

These departments consist of:
IT
-Information Technology
OE
-Organizational Effectiveness including Human Resources, Learning & Development, Health Wellness & Safety and Continuous Improvement
Sales Support
- Purchasing, Pricing & Product File and Inventory
Finance
- Finance, Accounting and Payroll
2005-100% Employee Owned
Jim Hoke sells his remaining shares to Van Meter Industrial. VMI becomes a 100% employee-owned company where every employee owner has a stake in the outcome.
Continued Improvements
2008-Expansion & Relocation of Cedar Rapids Service Center to 32nd Ave SW.
2009-Expansion & Relocation
of Sioux City to Cunningham
drive.
A Name Change
In 2011, Van Meter Industrial becomes Van Meter Inc. The name changes represents VMI moving beyond the industrial market and expanding our services.
2011- Expansion of Cedar Rapids Central Distribution Center including state of the art Wire Center, new Counter location and drive-thru lane for customers.





2012-Expansion & Relocation of Iowa City location to Ruppert Road. The building features roof-top solar panels, geothermal heating and cooling system, daylight harvesting system, electric vehicle charging stations, a power monitoring system and drive-thru lane for customers.
Continued Improvements
Did you know?
B.L. Robinson was a distributor of Square D. Square D is a direct competitor of Allen Bradley so the branch was not an Allen Bradley distributor until 2011 when their contract with Square D was finished. In 2011, their name officially changed to Van Meter Inc.
New President-Kevin Powell
In 2012, Barry Boyer retired as President of Van Meter. Barry still serves on the Board of Directors. Kevin Powell, President of Werner Electric of Minnesota took Barry's role as the new President.
Growth
Urbandale location opened in Spring of 2013. Des Moines location stayed open with a counter and warehouse. Clive location officially closed with employees from branch moving into Urbandale location.
Continued Success
In 2012, Van Meter Inc. was named one of the top mid-sized companies by the Des Moines Register.
Van Meter
Enjoy the Journey
Shared Services
2004-The ESOP Education & Learning Committee Begins
This video was taken at the celebration Van Meter held when they became 100% Employee Owned. The event was a tribute to Owner Jim Hoke who sold his remaining shares to the ESOP to allow the company to become employee owned.
ESOP Company of the Year
ESOP Committee Members accepting award in D.C. Featured are (left to right): Michael Keeling, President of ESOP Association, Jason Alt, Denny Sondgeroth, Cindy Avey, Rod Reinertson, Tracy Myers, Bill Meyers
Merger
This merger brought employee ownership to VMI through an Employee Stock Ownership Plan (ESOP).

Merger
New Branch Signage
Growth
1999-VMI outgrew its distribution center on 33rd Ave and acquired the building on what's now 32nd Ave. This Central Distribution Center increased our building size to 125,000 square ft.
Stock Price
1996
$10.34
Stock Price
1996
$10.34
1997
$10.96
Stock Price
1996
$10.34
1997
$10.96
1998
$12.30
1999
$12.91
2000
$13.02
2001
$12.74
Stock Price
1996
$10.34
1997
$10.96
1998
$12.30
1999
$12.91
2000
$13.02
2001
$12.74
2002
$12.62
2003
$12.96
2004
$14.25
Stock Price
1996
$10.34
1997
$10.96
1998
$12.30
1999
$12.91
2000
$13.02
2001
$12.74
2002
$12.62
2003
$12.96
2004
$14.25
2005
$18.17
Stock Price
1996
$10.34
1997
$10.96
1998
$12.30
1999
$12.91
2000
$13.02
2001
$12.74
2002
$12.62
2003
$12.96
2004
$14.25
2005
$18.17
2006
$32.39
2007
$67.64
2008
$83.75
2009
$82.39
2010
$106.18
2011
$138.05
Stock Price
1996
$10.34
1997
$10.96
1998
$12.30
1999
$12.91
2000
$13.02
2001
$12.74
2002
$12.62
2003
$12.96
2004
$14.25
2005
$18.17
2006
$32.39
2007
$67.64
2008
$83.75
2009
$82.39
2010
$106.18
2011
$138.05
2012
$192.05
VMI grew dramatically in size adding locations in Davenport and Keokuk.
Davenport
Keokuk
Carroll
Ottumwa
Join Us for a Company Tour
If you are experiencing video quality issues, go to V:\_Public\All\Learning and Development/Perfect Tour.2
Muscatine location moves into a brand new, energy-efficient facility in 2013 to make room for a high-tech training center and more product demonstrations. By using solar and wind power, along with LED lighting and geothermal, this high-tech, LEED-certified building saves up to 90% on utilities.
Growth
$242.46
2013
Stock Price
1996
$10.34
1997
$10.96
1998
$12.30
1999
$12.91
2000
$13.02
2001
$12.74
2002
$12.62
2003
$12.96
2004
$14.25
2005
$18.17
2006
$32.39
2007
$67.64
2008
$83.75
2009
$82.39
2010
$106.18
2011
$138.05
2012
$192.05
Miller Acquisition
2015 - Van Meter's Dubuque and Clinton locations opened after the acquisition of Miller Electric. The acquisition of Miller Electric expanded Van Meter's presence in Iowa to 14 locations. The addition of these sites allow us to offer truly local services across eastern Iowa; it also presents opportunities for customers in Illinois and Wisconsin to have nearby electrical supply support.
Dubuque location with new Van Meter signage
$242.46
2013
Stock Price
1996
$10.34
1997
$10.96
1998
$12.30
1999
$12.91
2000
$13.02
2001
$12.74
2002
$12.62
2003
$12.96
2004
$14.25
2005
$18.17
2006
$32.39
2007
$67.64
2008
$83.75
2009
$82.39
2010
$106.18
2011
$138.05
2012
$192.05
2014
$322.03
With a presence in Carroll since 1990, Van Meter opened a new 26,000-square-foot, state-of-the-art warehouse and sales facility in 2015. This location is a showcase of energy-efficient products, bringing the first LEED-certified building to the area. Customers and community members are always welcome to stop by and see the systems in action, from roof-mounted solar arrays to daylight harvesting solutions. The energy being captured and expended by the facility's solar, geothermal, and lighting systems is also display in real-time for everyone to view.
Growth
May 2016, Lura McBride becomes
President of Van Meter. Lura has
been with Van Meter since 2008.
She previously held the roles of
Director of OE and COO.

New President-Lura McBride
Acquisition of Bright Electric Chicago
On January 1, 2016 we integrated
Bright Electric powered by Van Meter.
This is our first location outside of Iowa.
Our Chicago branch is located in downtown just west of the loop.

GROWTH

Clinton branch closes February 2016. It was determined that we could effectively service and deliver to the area from our Davenport area.
Full transcript