New products, sales strategy spark $15M in sales for Dayton-area manufacturer
January 7, 2015
Driven by new products and a revamped sales effort, Staco Energy Products posted $15 million in sales in 2014.
Not only is that a new record for Miamisburg-based Staco, but 2015 is shaping up to be an even better year.
"We're putting a lot of focus on innovation and new products in this company," said Jeff Hoffman, who has shaken things up since taking the role of president at Staco nearly two years ago.
That's great news for the Dayton regional economy, as much of Staco's products are shipped to buyers outside the area.
Staco unveiled four products in 2014, three new and one upgrade, to lure new customers and drive more sales to existing customers. Hoffman said the company should make three more product launches in 2015 — two entirely new products and one major upgrade to an existing line.
Staco has averaged double-digit sales growth over the last two years and Hoffman expects to post 15 to 20 percent growth this year, which could lead to three to five new hires.
Staco makes voltage control, VAR compensation, uninterruptible power supplies and engineered power quality solutions. The company — a wholly-owned subsidiary of Dallas-based Components Corp. of America — has about 70 employees, most of whom are its Miamisburg office or Dayton production facility.
Hoffman said a restructured sales force and a shift in getting products to market also is driving better sales.
Staco traditionally sold through distributors and electrical consultants, but has been hiring sales people to work for it directly in an attempt to get closer to end-users.
In late 2013 expansion, Staco moved its headquarters from Dayton to Byers Road in Miamisburg, which included a new engineering lab for research and development of products.