Chart Industries Inc. subsidiary Chart Lifecycle Inc. has acquired Hetsco Inc. from Global Power Equipment Group Inc. To learn more about this acquisition, BIC Magazine recently sat down with Chart Lifecycle President Sam Thigpen. Thigpen also shared words of wisdom about starting up a business, the importance of serving your employees and his top management method.
Q: What led to your position at Chart Lifecycle?
A: After selling my previous company, Thigpen Energy, to a private equity firm, I found myself wondering, “What next?” Suddenly I realized I had succeeded in achieving my goals for that business, but I had never thought about what would come next. I prayed for guidance in this new chapter of my life, and those prayers were answered when I received a call from Chart to discuss a service start-up idea. They were looking for a service start-up person, and I was considered. After a few meetings, I realized this would be a good fit for me, and Chart felt the same. I accepted the challenge and joined Chart in October 2015.
Q: What is the biggest news at Chart Lifecycle right now?
A: We closed the acquisition of Hetsco in January of this year. This is a great fit for our business, as Hetsco provides on-site specialty services that fit nicely into the Lifecycle business strategy. The Hetsco and Chart Lifecycle combined business will focus on extending equipment life span by offering services from installation/start-up, operations/maintenance and training/support to monitoring, process optimization, repair/maintenance and extended warranty. This transaction is the catalyst for Lifecycle to offer an industry- leading range of services unlike what the customers of both Lifecycle and Hetsco have seen.
Q: What is the most important part of your position?
A: By far, the most important part of my position is serving the Chart Lifecycle employees. It is my belief great leaders must be servant leaders to ensure the success of the employees and satisfaction of the customers. Leading from a servant’s perspective fosters a culture of trust and integrity imperative to the success of a business.
Q: What’s the most important thing a person should know before taking a career path similar to yours?
A: Find your passion. A career path in business start-ups is not for the faint of heart. The level of dedication required to see a start-up through to success is unfathomable for most. Without a passion for the business, it can become overwhelming. That passion drives a person to solve problems and move forward. It drives a person to get out of bed in the morning and fight the good fight again that day. Building a business from the ground up takes perseverance, faith, dedication, and patience. If a person does it with passion, it is the most rewarding career path imaginable.
Q: What is your best management tactic?
A: The most successful tactic I use is ensuring each and every employee in the organization is in his or her most effective role. I use the term “finding their forte” regularly. If an employee is in a role within the organization that does match his or her strengths and interests, then we are setting up that person for failure. Management should never set anyone up for failure.
