Don Roberts
Don Roberts (CFO of HBM Holdings)
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Welcome
Today's interview is with Donald Roberts - CFO of HBM Holdings
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Name: Donald Roberts
Current role: Senior VP of Corporate Development and CFO @ HBM Holdings Company
Previous Jobs: Ernst & Young, several CFO-type positions in industrial manufacturing (one was with the Mississippi Lime Company)
Education: University of Missouri-Columbia
Major: Accounting
How closely does HBM Holdings work with the companies they acquire?
So far, we’ve bought 100% of the companies, and that’s our plan going forward. We like to use the word that we “partner” with our companies’ management teams, so they are standalone businesses. Each business has its own CEO and CFO, and we partner with them. We had our "portfolio companies" in here today actually, looking at some capital spending projects. And, our approach is not to show up quarterly for board meeting and have our companies send us a bunch of information. Instead, we are really kind of working with them. First, on their strategy – we have a facilitator that we use who doesn’t necessarily know about their business but knows about strategic planning and the process that you should go through. Then, after that, in short, it’s kind of working with them to implement that strategic plan
Where are HBM Holdings’ Portfolio Companies Located?
Mississippi Lime: Headquartered in St. Louis
Aerofil Technology: Sullivan, MO (about an hour southwest of St. Louis)
HBM Holding’s two other businesses are based in Indianapolis, but one also has a plant in Ohio and the other also has a plant in Poland. Mississippi Lime has 6-7 additional plants around the country. We primarily want North American headquarters, which a lot of times, when looking at manufacturing businesses, means you’re in the Midwest.
Are there any industries or majors that you think college students today should focus on?
I think people should go with what they’re really interested in. Manufacturing is on a rebirth right now. People in our business really like that because it’s about building things and moving things efficiently. We like to get out there and see things being built. If you have a desire towards that, you can do business and engineering type degrees and enter the manufacturing business upon graduation.
Personally, I don’t think getting real narrow during college, unless you know coming in what you want to do, is a great idea. There are obviously tons of opportunities in Finance or Consulting - which is a popular path for WashU Olin students. From the Accounting side, you can go work for a company and be working at a public accounting firm, seeing a bunch of different types of businesses. That’s kind of what I did. After graduating from college, I went to work in public accounting and saw a lot of different industries – seeing what I was truly interested in. Once again, I don’t think you need to be super focused in college, but as you are doing internships, you will get a better feel for what you want to pursue.
Does HBM Holdings offer any internships for undergraduate students?
We currently do not hire undergrads into our HBM program. However, we are starting to look at that a little bit differently. Our current program is set up primarily for undergrads that have gone back to work for 3-5 years and then have gone and gotten their MBAs. We then bring these people in and they go through a two-year program.
However, we’re thinking about potentially bringing in undergrads with engineering and business degrees and having them work with one of our portfolio businesses, then coming back into the HBM program. As I said, we’re about 4-5 years old now, so we are still learning what works and trying new things.
Are there any good internships that you know of? Or, are there any skills that you think are valuable for students to acquire during internships?
Banks, insurance companies, and technology companies tend to have good internship opportunities. One recommendation I have is that during an internship, try to learn the business side of whatever you are doing. So, if you are given a project to work on, really try to learn what drives the business. See who their competitors are and what kinds of products they sell. Don’t get too caught up on the project you’re working on but try to take a lot away from it.
Ask a lot of questions! People like to talk about what they do in their job. Sometimes you don’t want to look stupid, especially as an intern, but there really are no bad questions.
Additional Insights
If you really have a strong desire to be an entrepreneur and start a business, which is certainly a hard thing to do, talk to people who are out there doing that. Getting exposed to as much as possible during your college years is really important. I know a lot of schools have different opportunities with clubs and speakers. Expose yourself to a lot of different things. It is difficult to be in college and think: What specifically do I need to do when I graduate? Don’t get caught up on that question. A lot of different people are in the same situation!
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