Schaumburg, Ill. — Patrick McKune has seen a lot in his 25 years as a chief financial officer – and he likes what he sees at M. Holland Co., the resin distribution firm where he's worked since 2005.
But the accomplishments of Northbrook, Ill.-based M. Holland haven't happened by accident.
"A strategic plan doesn't sit on a shelf," McKune said May 21 at the Plastics News Financial Summit in Schaumburg. "It's important to revisit it frequently."
M. Holland's strategic investments have included acquisitions and technology in new businesses, markets and geographies, he added. The firm has made five acquisitions since 2012, including two in Puerto Rico and a joint venture in Mexico.
"Post-investment reviews also are important," McKune said. "Are we doing what we said we'd do?"
M. Holland has achieved strong volume growth along with an increase in net income, according to McKune, who said the only recent years in which the firm posted lower earnings was when it spent on reinvestment. "We try to reinvest ahead of growth," he said.
In addition to its acquisitions, M. Holland is the main customer of a major resin distribution center in Coal City, Ill., that was opened in early 2018 by G&D Hoffman Transportation.
In 2018, M. Holland posted sales of around $1.2 billion and distributed approximately 1.5 billion pounds of resin. According to Plastics News estimates, the firm is one of North America's four largest resin distributors, providing materials from more than 20 suppliers.