Rich Stanbaugh joined ANXeBusiness Corp. in 2000 as vice president of strategic initiatives and began leading the creation of a new transaction services product. Today, that product represents about 15 percent of the company’s revenue at greater than 90 percent gross margin.
But his accomplishments go much further than that single statistic as he’s been an agent of growth throughout his tenure at the organization.
In 2001, Mitsubishi purchased a 20 percent stake in ANX and created ANX Asia Pacific, tapping Stanbaugh to serve as its CEO. In that position, he oversaw the operation’s launch and returned to the United States in 2002 as ANX vice president of operations. In following years, the company saw impressive year-over-year growth in revenue and profits, largely as a result of operations improvements he made.
As a result of his achievements, Stanbaugh was named president and CEO of the company in 2005. He recognized that the company’s solutions could be used outside the automotive industry and were applicable to other vertical markets that were characterized by more rapid increases in services spending.
At the time, the company’s business model did not support its growth potential, so he orchestrated a divestiture from SAIC, which owned the company, and the acquisition of ANX by One Equity Partners. With new owners who supported growth by acquisition, he began targeting companies that would support his expanded service offerings vision.
From 2006 to 2010, he led the acquisitions of six companies while building a new executive management team.
The company is now focused on delivering solutions related to managed security systems, secure connectivity, compliance and transaction service to a variety of industries, including health care, banking/financial services and government. Since 2005, revenue has nearly tripled, and the company is positioned for even more growth.
How to reach: ANX, (877) 488-8269 or www.anx.com