People in the News at NSI and Atkore

Last week there were a couple of significant personnel announcements from NSI and Atkore that could indicate upcoming strategic initiatives.

NSI

NSI, which underwent an ownership change in the fall, is positioning for accelerating growth in a consolidating market.

The company, which is owned by private equity who will be seeking organic and acquisition-driven growth before inevitably capitalizing on an increased valuation, shuffled its leadership group.

According to its press release titled “NSI Industries Announces Key Changes to Commercial Sales Leadership,”

“NSI Industries, LLC is pleased to announce updates within the Commercial division, designed to strengthen the company’s sales strategy and enhance relationships with NSI’s largest customers.

Mark Fallico Named Vice President of Sales

Mark Fallico has been promoted to Vice President of Sales. Fallico has a record of driving results through smart strategies and exceptional leadership. In his new role, he’ll lead NSI’s sales efforts across all markets, fostering stronger connections with our customers, addressing their evolving needs, and keeping NSI on track for continued growth and success.

Tom Wallace Transitions to Vice President of National Accounts

With years of dedication and deep expertise, Wallace will focus on strengthening partnerships with NSI’s largest customers, ensuring they receive the exceptional value and service they’ve come to expect from NSI.

Both Fallico and Wallace will report to Electrical Division President Joe Saganowich and are working closely together to make the handoff seamless and ensure continued collaboration.

“These leadership changes reflect our commitment to fostering strong relationships with our customers while executing a best-in-class sales strategy,” said Saganowich. “Mark and Tom are incredible leaders who’ve consistently gone above and beyond. Mark’s vision and expertise will keep us ahead in the market, and Tom’s dedication and insights will help us build even stronger connections with our biggest customers. I couldn’t be more excited for what’s ahead.”

One of the individuals who will support Tom is Jason Obetz. Jason announced on LinkedIn that he has taken on the role of National Account Manager, but didn’t mention which national account(s) he will have responsibility for. Jason will be returning to a customer facing role after a stint at corporate as Director of Customer Experience.

NSI Take Aways

NSI is deploying strong leaders to key roles to drive the next phase of the business. This is a company that made its mark servicing small to mid-sized companies. Through its various PE owners there have been many investments made into the business … from acquisitions to product development to people and infrastructure. Company sales reportedly are nearing a billion dollars (inclusive of its HVAC and electronics businesses.) Coinciding with NSI’s journey the electrical industry has consolidated significantly. NSI is, presumably, doing much more with national accounts either because of these companies’ acquisitions or due to NSI’s efforts to call on these accounts. The end result … these accounts are not only important but will drive future growth for NSI.

Now, with Mark driving sales strategy and Tom interacting with their most important customers at the corporate level, the company is able to have a dual strategy to drive growth … calling on end-users and branches with a dedicated senior executive calling on key account HQ … and probably interacting with key contractors that can be defined as “national accounts.”

Adding Jason to the mix further reinforces that the company views National Accounts as a strategic initiative / asset.

Congratulations to Mark, Tom and Jason on their new roles.

Atkore

Atkore made news last week with two changes within its executive ranks.

According to a story in TED Magazine, Melissa Kidd, Atkore’s SVP Sales, announced that she will be retiring from the company on July 7^th after about six years in the role and eight years with Atkore.

The article noted a comment by Bill Waltz, Atkore’s President and CEO, that Melissa’s lengthy notice “enables the Company to carefully and effectively evaluate its options for succession planning and transition of responsibilities, with a future announcement planned.”

The wording becomes interesting as it can be interpreted that the role may be filled as it is currently structured or may not be filled and hence a different model could be under consideration.

Additionally, Atkore announced last week that John Pregenzer, Atkore’s President – Electrical, has been promoted to Chief Operating Officer. He will also retain his current role of President – Electrical and continue to report to Bill Waltz.

Waltz commented “With broader responsibilities as Chief Operating Officer, John Pregenzer will work with leaders across the entire company on creating synergies that drive greater productivity, growth and operational excellence across all of Atkore. John’s multi-disciplinary career coupled with his Atkore experience is a tremendous asset in helping Atkore achieve its objectives and deliver value to our customers and shareholders.”

Congratulations to Melissa and John.

Atkore Take Aways

Individually the announcements may not mean much. Collectively, they may mean:

We now know that Atkore succession plan, which may not be a surprise to those within the Atkore sphere. The timing?

The Atkore stock price has been “challenged” over the past year – from $190 in late March 2024 to $81. While the company’s diversification via acquisition has helped, the run-up in the stock coincided with copper increases and government largesse (IIJA and other investments.) Has it taken share? Made accretive acquisitions within the electrical space to capture more electrical distributor spend?

If top sales / executive management changes, could there be a change in strategy? Relating to dual brands? Multiple reps / market? Definition of an “acquisition platform” and the companies that they consider (or their investment criteria?)

Or maybe nothing changes. Only time will tell.

In looking at the NSI and Atkore personnel announcements, are the telegraphing strategic moves?