Vintex CEO, David Anyon

In the HBA program, students are exposed to a countless number of successful business owners, and influential entrepreneurs. The second year HBA Managing High Growth Companies class (taught by Simon Parker), hosted Dave Anyon, past CEO of Vintex and current Chairman of the Advisory Council for the Morrissette Institute for Entrepreneurship.

Anyon experienced his entrepreneurial successes as the owner of Vintex, a manufacturer of vinyl-coated fabrics (http://www.vintex.com). Vintex became an emerging presence in the US through its focus on reusable/washable products geared towards the health-sector. Under Anyon’s leadership, the company enjoyed more than fifty consecutive quarters of profit as it stood in 2005.

Anyon was not quick to take any of the credit for the success of Vintex, however. He credits his employees and managers for the company’s progress and growth. “I look smart because I surround myself with great people, most of whom are smarter than me.” Vintex manufactures vinyl-coated fabrics using its own materials and based on its own formulation and pigment compounding. “We have innovative, proven, all-encompassing growth,” stated Anyon.

Although he gave due credit to his employees, Anyon also outlined his framework for the success of his business. He believes entrepreneurs need a mission, a vision, good strategies, and goals (company and individual). It is then up to the entrepreneur to determine where their people fit into this framework and what their ideal contribution can be.

Anyon did not make Vintex a success by accident. In 1994, he was the CFO at Vintex but moved to the Presidential spot after be bought out two shareholders. He knew immediately that in order to harvest the value that he wanted out of the business, he would have to grow, pay off his shareholders and find a replacement for his position. He immediately hired three VP’s and a future President to replace him (three of which he found while completing his MBA at Ivey). In order to properly incent the new management team, he implemented a quarterly profit-sharing initiative and ensured that the success of the individual management team was directly tied to the success of the company.

Anyon bought out the shareholders in 1994 when Vintex had revenues of $19M and 61 employees. He and his VP’s grew the company to $60M in revenues, and 112 employees by 2002. Anyon was able to effectively harvest the full value of the company that he had helped grow when he sold it in 2002.

Throughout the growth process, Anyon firmly believed in the theory of adapt or die. He had a mission for his company, and inspired the vision to get it there. He then set strict goals for the company, and implemented the strategies to accomplish those goals. This is another example of an entrepreneur creating great value for himself as well as for his over one-hundred employees.

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