Acquiring success Featured

8:00pm EDT June 25, 2009
Finalist
Home Improvements

When Craig S. Hartman’s company, Fall Creek Housing, went bankrupt in 2004 after he’d owned it for just two years, the entrepreneur found himself starting over at the age of 50.

Yet just a few months later, Hartman became the manager of Preferred Acquisitions LLC, which, at the time, was a struggling painting and flooring services company owned by Arlington Capital Acquisitions Co. After managing the company for 28 months, he bought it and, about a year later, bought a failing roofing company, integrating the new service line into the company to begin offering three distinct types of construction services. Hartman has a dedicated belief in incorporating across the product lines in order to increase the efficiency of services and the satisfaction of customers. And he believes that by executing the basics better than the competition, bundling multiple services and making a personal connection with his customers that he can differentiate his company in the marketplace.

Now as president and CEO of the company, Hartman has more than doubled revenue from 2005 to 2008 and jumped from a loss position to a gain position. And he attributes much of his success to the people-first attitude that he cultivates through his strong benefits package and the opportunity for employees to obtain ownership of the company through hard work and reaching goals.

Going forward, Hartman anticipates that expansion will continue within the next two to three years, despite the downturn in the economy. To make this happen, he plans to increase product offerings and expand his company’s geographical reach beyond the five-state region that it currently serves.

Hartman measures his ultimate success by the continued growth of Preferred Acquisitions and the transfer of ownership to his employees upon his retirement, rewarding those who have helped him on his journey.

But for now, he continues to use his vision, leadership and entrepreneurial spirit as Preferred Acquisitions extends its reach. With his entrepreneurial determination and enthusiasm, Hartman has instilled a bright future for his company and his employees.

How to reach: Preferred Acquisitions LLC, (216) 587-0957 or www.preferredcleveland.com