For Chris Yount, taking over Fortifiber as the third-generation president and board advisor was a watershed moment. Since 1939, this family-owned middle market business had launched dozens of products in the weatherization systems industry, but the company’s growth demanded new leadership and new approaches to a changing and competitive marketplace. Repositioning the company for profitability and sustainability was paramount, as was maintaining the historic tradition and work culture that made Fortifiber an industry leader.

The deep corporate re-evaluation and restructure initiated with Yount’s 2009 promotion to Chief Executive Officer. At that time, the construction industry was taking a hit, losing 80% of all housing starts. Yet, undeterred, Yount’s immediate contributions began the company’s greatest profitability trajectory in the company’s 70+ years. This radical turnaround had several major components that resulted in the deeply profitable sale of the company to Henry Corporation in 2018.

REFRAMING GO-TO-MARKET STRATEGY

The company had always been profoundly reliant on its asphalt saturated kraft paper products. Yet, Yount led the business’s entrance into housewrap product lines in his earliest role with Fortifiber, setting the stage for accelerated growth by the late 2000s. Additionally, he negotiated, with advice from his board of directors and executive team, the acquisition of mission-critical manufacturing facilities and equipment, such as butyl-based adhesive window flashing tapes and multiple custom-manufactured and/or white-labeled products. These decisions made on behalf of the business set a long-term growth trajectory leading to negotiations for exit from the business to Henry Company.

OPTIMIZING CORPORATE FOOTPRINT TO GROW SHAREHOLDER VALUE 127% IN 8 YEARS

This initial growth—3X sales of new products and savvy cost controls—launched an era of spectacular growth that saved the company from effective bankruptcy. Yount’s major contributions at this stage of business turnaround were 1) his willingness to take difficult action in favor of operational strength, and 2) his savvy assessment of the marketplace and negotiation with competitors for acquisitions supporting Fortifiber’s culture, industry reputation, and core competencies.

Yount strategically engaged his executive team, and, in concert with board advisement, completely restructured the business. Thus, he created a lean approach to production that saved hundreds of thousands of dollars annually, was technically focused and responsive to current market trends, and positioned the company for its sale. Because the needs of Yount’s employees always came first, closing or selling off manufacturing facilities to maintain ongoing profitability were challenging yet important choices for rescuing the business. Nevertheless, Yount always communicated those decisions transparently as a tenet of the decades-long corporate culture.

STEWARDING COMPANY SALE

By 2017, it was eminently clear that selling the business to Henry Company, with which Fortifiber had negotiated favorable contract terms in the past, was the right decision for this family-owned organization that had been a fixture in the industry for several decades. Working with the board to determine and negotiate ideal terms, the deal was concluded after a rapid yet thorough due diligence process. The deal was inked by the end of 2017, and Yount agreed to stay on to lead the transition and integration. Following the sale Yount continued to successfully lead the business to 12% sales growth as senior vice president of the residential and light commercial division.

From the boardroom to the factory floor, Yount’s leadership profoundly influenced the direction of Fortifiber, including and throughout the sale of the business to Henry Company. Now in transition, Yount seeks to join corporate advisory boards to share his hard-won wisdom, enabling leaders of growth-focused businesses to live, as he wishes for himself, lives of statistical significance—to deliver positive, profitable impacts on organizations poised for change.

Yount earned an MBA from University of California, Irvine, and a BBA in business administration, from The University of San Diego. He has traveled to 65 countries on 6 continents and currently makes his home in Reno, Nevada, with his wife of 22 years and their 2 children. In his spare time, he is an avid woodworker. Some examples of his craftsmanship are below.

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