Chip Valentine
NWSA President
1997-98
nexAir
This is a new column where former NWSA and GAWDA presidents reflect on their time as President of the association and also let readers know what they have been up to since their time as President. Thank you to Chip Valentine for being our first-ever contributor to the “Life After the Presidency” Column.
I was fortunate enough to be the President of NWSA (now GAWDA) in 1997-98. This was a time of substantial industry consolidation with Airgas, Praxair, and others buying up many of the independent distributors. Our company was a “regional consolidator” and, in fact, was born as a merger of two independents in the same market area. I, personally, was very involved in the M&A side of our business and felt that this was one of the best ways to grow our business.
I was very involved with several of our “sister” organizations during the time I was in office, as we attempted to have an enhanced relationship with organizations with whom we shared a mutual interest. I was on the Board of the Compressed Gas Association and served on the CGA/FDA Executive Council. The industry was working with the FDA to help make their rules and regulations regarding medical gases realistic, safe, and clear to the providers and consumers. I was proud of the way the industry and the government worked together to accomplish this goal, which I feel our industry still benefits from, even all these years later.
Back in the “old days,” when I was President, the time commitment to serve in the chairs of our Association was even greater than it is today. Instead of one Spring Management Conference, as we have today, there were six zones, and each zone had its own conference each year. We had Regional Meetings, as we still do today, and, of course, the Annual Convention. When you add in attendance at our sister organizations meetings (e.g. CGA, AWS, FABTECH, NAWD, Chamber of Commerce, and others), it was truly a full-time job. Thankfully, our Association leadership has realized that our officers still have businesses to run and have lessened the travel and meeting schedule somewhat. It is still quite a commitment to serve our Association in a leadership role and I know we are all grateful for those who choose to expend so much time and effort for the good of us all.
I retired in 2003, but didn’t stay “retired” for long. I was asked to speak at several regional meetings, to buyer’s groups, etc. about the consolidation of our industry and how to value these businesses in a sale. People started asking me to help them in the sale of their businesses, either to an outside party or in transferring the business to the “next generation.” I’ve been doing that now for 21 years. So, though I am old as the hills, I am still involved in our industry.
Our industry continues to consolidate. Private Equity players have picked up on the many positive aspects of our industry. Many independents are very acquisition oriented and want to expand their footprint. The bigger public companies in the industry are still wanting to grow by acquisition. So, there is no shortage of ready, willing, and able buyers out there and because of this “competition” for a shrinking number of targets, the value of our businesses has continued to grow.
Though I am long “retired,” I still have wonderful ties to the guys with whom I grew up in the industry. My best friends are mainly GAWDA folks from around the country. I go on golf trips several times a year with a few of the Past Presidents of the association. I am on the Board of Indiana Oxygen Company, whose Chairman, Wally, is a Past President and whose President is the current GAWDA President. So, I certainly keep up with what is happening in our industry.
We are all so very fortunate to have had the opportunity to be involved with such a wonderful organization as GAWDA. It not only will help you in the day-to-day operation of your business, but you will positively make friends with people who have common interests, and these friendships will last a lifetime. I am a living example!
