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n e w h a v e n b i z . c o m | A p r i l 2 0 2 3 | n e w h a v e n B I Z 9 print ad print ad Looking for a commercial lender who's as committed as you? At GE Credit Union, we have a suite of solutions that will work for you so you can get down to business. • Vehicle purchase and refinancing • Commercial real estate lending • Great rates and flexible terms We are GE Credit Union. Committed to New Haven. Committed to your business. EQUAL OPPORTUNITY LENDER. FEDERALLY INSURED BY NCUA. myGECreditUnion.com 800.992.8472 395 Whalley Ave., New Haven Mon–Fri, 8:30–4:00 • Sat 8:30–noon 395 Whalley Ave. New Haven Mon, Thurs & Fri • 8:30AM - 4:00PM | Tues & Wed • 8:30AM - 3:00PM | Sat • 8:30AM - 12:00P A t A G l a n c e Company: Amodex Products Industry: Manufacturing Top executive: Beverlee Dacey HQ: 1354 State St., Bridgeport Website: Amodexusa.com NMLS #402928 chelseagroton.com/growthatbusiness or call 860-448-4295 There's no such thing as a small business. It's a big deal to you. We have the products, services, and guidance you need to grow. business, she agreed to start winding down her work at the school with the thought of joining Amodex in July 2005. ose plans changed suddenly that April when her mother was killed by a drunk driver, she explains. Suddenly, she was in charge of a declining man- ufacturing firm and had to find some answers. Fast. She describes the experience as "a re-start-up," all the problems of a start- up overlaid on outdated technology, marketing and fulfillment. e underlying product – an eco-friendly soap-based stain remover that worked on virtually every stain on every surface – was solid. And her mother had managed to reach a valu- able endorsement deal with the maker of Sharpies and a host of other pens. As Dacey explains it, the customer service team at Sharpie was tired of dealing with claims filed by irate cus- tomers unable to get the indelible ink out of clothing, furniture and carpets. ey tested Amodex and quickly em- braced the product as the answer. So the cupboard wasn't bare when Dacey became CEO, but she had a lot of work to do. Her first step, she recalls, was a rebranding with new packaging, colors and "pop." It worked; people noticed and Amodex was on an upward trajectory. Consumer Reports called the product a "must have in every home." Martha Stewart recommended it. e production line got a refresh and a conversation started about finding larger quarters. en lightning struck. Lowe's tested the product and bypassed test market- ing to roll it out in 1,100 stores in 2015. It was an exciting and pressure-filled time as Amodex geared up to meet the new demand. Dacey connected with the state's Business Express program for a loan that allowed the development of and move to a new site, still in Bridge- port. Today, Amodex is sold in several ma- jor retailers as well as online through its own website. It's sold in English-speak- ing markets including the United King- dom and Australia. Bilingual packaging was developed to allow sales in Canada, which requires packaging to include French and English. And a succession plan is in place. "We're not going to make the same mistake twice," Dacey says. She has four children -- two sets of twins. With one set in college and the other set in high school, she called a family meeting. She laid out the situa- tion and the need for a succession plan. As she thinks back on her own childhood, she said the family business permeated life and she absorbed details of the operation "by osmosis." Her chil- dren seemingly had a similar experience and when given the chance to opt in, the verdict was unanimous. "We were all all-in," she says. e succession plan that evolved divides the company stock evenly but designates daughter Marica as the next CEO. "She's the one who brings the others together," Dacey explains, adding the others are carving out their own niches. Marica will face some stiff challenges, Dacey notes. Only 6% of manufacturing companies are controlled by women. And while Connecticut has organiza- tions for women CEOs, there are fewer places to turn for help in the manufac- turing realm. A few years ago, Dacey did a video commercial for Bridgeport and is on the Regional Business Council. She's also on the board of the state Manufacturing Fund. But she acknowledges she had considered moving out of state to avoid the tax and regulatory burden. Like at other crossroads, Dacey chose perseverance. She got involved and says things are getting better. She points to the 2014 creation of the Manufacturing Fund and its voucher program that has invested $90 million in matching funds for varied purposes from expansion to technology. Her wisdom for other small business owners is to get out of the office and connect with the community. Learning what's new in this fast-moving society may well trigger a thought that helps your business, she advises. n Amodex manufactures ink and stain removal products.

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