Much of the past three years has been spent on creating a common culture and business approach at Coveris Holdings Corp.
With a lot of that work now finished at the plastic packaging company, Coveris is looking to take a more external approach to focus more on customers and push for higher earnings.
Owned by Boca Raton, Fla.-based Sun Capital Partners Inc., Coveris was created in 2013 through the combination of a handful of packaging companies owned by the private equity firm.
A major part of Gary Masse's job as CEO has been bringing all of the different operations together and creating a unified vision for the company.
“I think we started within the four walls [of the company] because we had to integrate and we also had to get our plants performing well. I would say our plants are performing pretty well today,” he said.
“There was a need to really get our plants and get our businesses integrated and aligned. And that allowed us now to turn to the customer and say, ‘ok, we're ready to take you on and we're ready to give you service like no one else can.' But I think it would have been a fake promise before,” he said.
While internal improvements have allowed the company to increase EBITDA margins from “10 percent-ish” three years ago to 12.5 to 13 percent these days, the company has a goal of increasing that number to 16.5 percent, the CEO said. “I think we're on a journey to get there.
“First 3 percent we got all through productivity and integrating the companies. The next piece is going to come through continued productivity, but growth, and that's why we're spending so much time on customer excellence,” Masse said.