Just like the caulking and sealing products it creates, Colorado-based Sashco thrives on being durable and resilient. With nearly 90 years in business, the family-run company has seen its share of challenges, but sheer determination and strong relationships with collaborators like BOK Financial® have cemented Sascho's place at the top of their field.
A history of stick-to-itiveness
Founded in 1936 by Donald Burch, Sascho built a strong reputation as a provider of high-quality finishing and weatherproofing products for contractors and homeowners. But the company met with tragedy in 1954 when Burch died in a plane crash, leaving behind one son and his pregnant wife, Alice.
Sascho stagnated for a decade after Donald's death, but in 1964, Alice stepped in and took over management of the company, hoping to preserve it for her children. It was an uncommon move for a woman in the 1960s, but Alice was undeterred by social norms.
"She wouldn't let that get in her way," said Donald and Alice's son, Les Burch, who is now president of Sashco. "She came in not really understanding the business very well, but she was a great learner and had a knack for inquiry. She relied on her suppliers and vendors to teach her."
Along the way, Alice discovered and dealt with declining product quality and financial instability, but a decade later she had successfully turned the company around.
Taking on the unknown
In 1972, Les joined the family business as a graduate chemical engineer. He soon became president when Alice retired. Today, Sashco has carried on to the next generation with Les's own sons—Nick, who serves as director of finance, and Jeff, a strategic selling manager.
Like their forbears, Les, Nick and Jeff also have steered Sashco through changing times with the help of quality information and advice. In recent years, their work with BOK Financial Relationship Manager Sean Kelly has proven especially fruitful.
"I think what Sean brings to the table is this ability to take a broad view of the dynamics and be able to talk about it," Les said. "He understands what we're trying to accomplish."
Kelly's support when Sashco wanted to build a new headquarters building really stood out, Nick said. He recalled, "We were doing cash flow analysis and there were, as my brother Jeff likes to say, 'Ten big unknowns that could have derailed the project at any time.'"
Along the way, Sashco asked BOK Financial to increase their line of credit from $5 million to $7.5 million, which they needed to be prepared for unpredictable expenses associated with the building project. However, as the bank reviewed the request, a wave of inflation led to higher costs of doing business, compressing Sashco's margins. Additionally, the specialized nature of the building project also posed financial risks that would prevent many banks from extending credit.
But Kelly was determined to find a way to help. "Sashco's strength provided them with a lot of options. They had run their business well and were financially responsible," he said.
"BOK Financial didn't just look at the numbers," Nick agreed. "They looked at the reasons why the numbers were what they were." And that deeper understanding of the client's business led to a financing solution that worked for both sides.
An ally for today and tomorrow
The relationship between BOK Financial and Sashco has grown and developed over the years, as has the relationship between Kelly and the Burch family. Originally, Sashco only used the financial services company for deposits. Since then, BOK Financial has provided Sashco with financing not only for the building but also for specialized equipment.
"This is the type of relationship we strive to have with all our clients; we want to get to know their business on a multifaceted level, and for them to think of BOK Financial as an ally, not a vendor," Kelly emphasized.
See more client stories like Sashco's here.
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