Entrepreneur eyes future of booming PartsSource
by Mike Hixenbaugh
Record Publishing
It wasn't a huge surprise when A. Ray Dalton was named the Ernst and Young Entrepreneur of the Year for Northeast Ohio in 2004. It's even less of a surprise that he's a finalist again in 2007.
His company, PartsSource, is booming and it's not likely to stop anytime soon.
In just six years, PartsSource has gone from a zero employee pipe-dream to a multi-million dollar powerhouse, employing 180 people at its Aurora headquarters.
Since 2001, Dalton has moved his company from Bedford to Twinsburg, and then from Twinsburg to Aurora in May - each time because of space restraints.
"We needed room to grow," Dalton said during a tour of his new complex. "We have that here. Now we're planning to fill this building, as well."
After a $1 million initial investment, PartsSource generated an annual revenue of about $21 million by 2005, and now $75 million in 2007.
Dalton said he expects annual revenue to eventually reach $100 million, at which point he would consider selling PartsSource in order to open a full-scale nonprofit charitable foundation - a dream of his.
Selling a big business wouldn't be new for Dalton, though. PartsSource is the seventh company he's launched. He sold the other six to major conglomerates.
Dalton admits, though, that his current business has been his favorite.
"We're driving down the cost of healthcare while making a great living for ourselves," he said. "It's hard not to get excited about that."
Record Publishing
It wasn't a huge surprise when A. Ray Dalton was named the Ernst and Young Entrepreneur of the Year for Northeast Ohio in 2004. It's even less of a surprise that he's a finalist again in 2007.
His company, PartsSource, is booming and it's not likely to stop anytime soon.
In just six years, PartsSource has gone from a zero employee pipe-dream to a multi-million dollar powerhouse, employing 180 people at its Aurora headquarters.
Since 2001, Dalton has moved his company from Bedford to Twinsburg, and then from Twinsburg to Aurora in May - each time because of space restraints.
"We needed room to grow," Dalton said during a tour of his new complex. "We have that here. Now we're planning to fill this building, as well."
After a $1 million initial investment, PartsSource generated an annual revenue of about $21 million by 2005, and now $75 million in 2007.
Dalton said he expects annual revenue to eventually reach $100 million, at which point he would consider selling PartsSource in order to open a full-scale nonprofit charitable foundation - a dream of his.
Selling a big business wouldn't be new for Dalton, though. PartsSource is the seventh company he's launched. He sold the other six to major conglomerates.
Dalton admits, though, that his current business has been his favorite.
"We're driving down the cost of healthcare while making a great living for ourselves," he said. "It's hard not to get excited about that."
