TEN YEARS IN THE BLINK OF AN EYE…

August 22, 2008, was an exceptional day for our family. First, it was special because my sister, Amy and our Dad share the same birthday. But it was also significant because it is the day Kingsgate was passed from one generation to the next. It’s hard to believe that it’s been ten years since Amy, David, Julie and I bought the company from our parents. When I think back on that time and how awesome that experience was, thinking of everything we have overcome, and all the company has accomplished over that same time is equally remarkable.

When we talk about buying the company in August of 2008 and the subsequent collapse of the country’s economy the very next month, we often tease that our parents time to exit was perfect, and our timing to acquire… well, not so much! Within 18 months of ownership, we would see the company’s revenues decline by 40%; and we would see our largest customer close their local operation, and what was once a cornerstone piece of business, became a small transactional customer.

So here we were, first time business owners, dealing with debt for the first time and seeing rapidly declining revenue… what had we gotten ourselves into? Yep, the old saw and oft-repeated advice of my dad – “make sure the taxes are paid, and if anything’s left, make sure we give back” – kind of went by the wayside. There was nothing to give back!

But as challenging as those days were, it was probably the best business lessons we have learned. Up to this point, we had steadily grown the company – purposely slow and just enough to have relative growth. We weren’t very strategic in our approach and really only dealt with daily challenges as they presented themselves. However, through all of this, we learned two critical lessons: 1.) if you aren’t growing, you’re dying and 2.) if you aren’t planning for tomorrow, you may not have one.

At the end of the day, we came out of all it much better prepared and much wiser about what we needed to do for our company, our families, and all the families that are a part of Kingsgate. We put together a plan that focused on growth through diversifying our business and client portfolio, getting the company financially healthy and adding a team of advisors to help coach us through the process.

Over the next six years, we would see us outgrow our home base of twenty years. We would grow from 15 members of our team to over 70. We would expand our new headquarters twice. Revenues would increase by nearly 400% and the company stand on robust financial health. We are set to open our first satellite office. And we have been acknowledged as one of the region’s best companies and best places to work.  I had a banker friend of mine recently tell me, our turn-around is one of the best he has ever seen in all his years of banking.

We are proud of where we are and excited about where we’re headed, and that in getting here, we have done so remaining faithful to the tenets of our founding: hard work, the highest integrity and exemplary service to our customers.  But I think our most pride comes in that we have added so many great families to the Kingsgate family, and that we have been blessed to honor our parent’s wishes to give back, by being able to support so many great organizations and causes throughout the communities in which we live and work.

Thank you to everyone who has been part of this incredible journey!  Especially to those of you who were there on August 22, 2008, and stuck with us and together, helped us fight through to become the company we are today. Whether you have been here for all ten years (and many more!) or just 10 days, each of you has played a part in our successes. I can’t wait to see what the next 10 years bring and where the journey takes us!  #KeepingItKingsgate

All the Best,

Jeff Beckham