Recap: An Evening With CEO Tony Hynes
On March 5, 2020, Upstate Capital members and guests gathered in a private speakeasy in Albany for some pre-Spring networking. The event was sponsored by Wells Fargo, and joining us in attendance was Wells Fargo’s Vice President of Middle Market Commercial Banking, Donald Ranck.
The program began with an Upstate Capital introduction by board member, Mike Lasch, Managing Partner at Pine Street Capital Partners and based in the Capital District.
Mike introduced our featured keynote speaker, Founder and CEO of Precision Valve and Automation (PVA), Tony Hynes. Tony founded PVA in his basement and over the years has grown the company into a $70M global manufacturing business. Today, PVA sells its equipment in every industrialized country in the world, all while maintaining its headquarters in Cohoes, NY.
PVA’s business model is based on an employee-centric system because, as Tony says, “the most important people, as it relates to business, are your employees, not your customers”. Tony believes investing in his employees is the best way to grow a business, “no matter what you do, you’re in the people business”.
Growing up,Tony’s mom instilled a sense of service in him. She would say, “The only thing you should be truly ashamed of is if you’re able to do something for someone, and you haven’t done it”. Tony became passionate about healthcare. He became “sick and tired of seeing people sick and tired”. He created an in-house healthcare system that offers his employees and their immediate and extended families access to free healthcare and physical therapy.
Tony has incubated and mentored the start of several companies as well as acquired companies of social importance that would benefit from PVA’s business model. This has led to the purchasing of several businesses, including The Adirondack Barrel Cooperage in Remsen, NY and Create Orthotics & Prosthetics, a New York-based provider of 3D printed prosthetic devices. Creating jobs in Upstate New York is important to him, even if he may only earn “tens of hundreds of dollars”.
If you too are in the people business, Upstate Capital can help you connect with its robust network of entrepreneurs, capital providers, professional advisors and leaders in the business and support organization ecosystem. Check out some of our membership benefits here, and let us know if you’re interested in learning more – you can reach us at email@example.com