Checkers made right moves during downturn

BROOMFIELD — Coming out of an economic crisis with more than the essential office furniture still in place indicates a great deal of luck or a great deal of business savvy.

For Checkers Industrial Products LLC, success points to the latter, according to David Kasnic, president.

The company, founded in 1989, manufactures industrial safety products used primarily by the mining, oil and gas and entertainment industry as well as the federal government and military.

From producing warning whips that increase visibility of off-road vehicles and speed bumps that keep traffic in check to wheel chocks that add extra hold to vehicle tires and goggle retainers to secure protective eyewear to headgear, Checkers has made it through the recession with flying colors.

Checkers’ revenue grew 138 percent, from $12.6 million in 2009 to $29.9 million in 2011. The growth places Checkers at No. 4 on the Boulder County Business Report’s Mercury 100 list of fastest-growing private companies in Boulder and Broomfield counties reporting annual revenue of more than $2 million.

“Coming out of 2008, we were down 25 percent so we tightened our buckle and focused on controlling costs,” Kasnic said.

In 2009, the company followed the course many organizations took to make it through by downsizing. The Broomfield-based manufacturer decreased its workforce from 120 to 80.

Demand for Checkers’ products as well as consumer confidence came back in 2009, according to Kasnic. “We started to make money at that time on the inventory we had.”

Focusing 40 percent of the company’s business on the mining industry, Checkers grew as the price and demand for precious metals increased.

“They might add 10 more trucks to keep expenses down,” he said. “And the more trucks and activity in the mines means the more wheel chocks and warning whips they’ll need.”

He referred to the Mine Safety and Health Administration as similar to the Occupational Safety and Health Administration in terms of regulating safety procedures for the mining industry.

As a manufacturer of equipment that meets and sometimes exceeds MSHA’s safety specifications, Checkers has a secure seat at the table that serves growing industries such as mining.

A shot in the arm for the company came in February 2011 when Tonka Bay Equity Partners took an equity stake in Checkers, joining with current management to provide capital for growth.

Since then, Checkers has acquired three more companies and continues to focus on further acquisitions, organic growth and international sales.

Checkers now employs 140 people.

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