Ryan Gledhill exemplifies the quintessential entrepreneur. As an owner of a nutrition brand, Ryan felt a responsibility to his customers to deliver the highest quality products in a timely manner. Disappointed with the manufacturers he was using to supply his supplements, Ryan set out to manufacture his own products that would always meet the claims made on their labels. He started Intermountain Nutrition.
In year four of his new venture, Ryan’s company was growing quickly, and he knew he either needed to raise capital or scale back. Banyan immediately helped Intermountain sustain its growth by purchasing its own facility. Banyan has also helped Intermountain secure a line of credit to meet customer needs and provided additional financial management to help the company achieve its lofty vision.
“Several firms were looking to give us money, but the reason I decided to go with Banyan was the team. They brought experience and success, and they weren’t ‘vulture capitalists.’ They have the whole picture in mind. It’s not solely about the money; it’s about the employees and people. They believe that if you’re doing what you should for your people, it will increase your bottom line.
“Together, we drafted a mission statement and core values, and we identified what we wanted to accomplish in the next five years. Our strategies aligned, and we were of one mind on how to accomplish our goals.
“Banyan takes care of the high-level administration and financial management, while I’ve been able to focus on growing the business. They have been integral in helping this growth come to fruition and in handling challenges in creative and out-of-the-box ways."
When Evelynn Osuna started Rev-It Logistics, she had a vision: To provide the best delivery service for her customers. She valued her employees and felt a responsibility to get the job done right every time.
As her business grew, it became clear that her expertise was in customer service and delivering excellence, but the business management side of Rev-It needed outside attention. Evelynn teamed with Banyan Ventures so that she could focus her efforts on accomplishing her vision, while Banyan dealt with the financial aspects of her growing logistics company.
Banyan provided Rev-It with increased efficiency, strategic consulting, and financial management. Together, Banyan and Rev-It acquired two more companies and created Western Peaks Logistics that provides transportation services in seven states.
“Working with Banyan is one of the best decisions I have ever made. They provided financial stability, helped us diversify our offerings, and helped me understand sound business practices. We have grown from a small courier business to a full-fledged transportation and logistics company.
“The people at Banyan have been wonderful to work with, and I have learned more in five years working with them than I would have in school or anywhere else.
“Every day we operate with integrity. When we tell our customers that we are going to do something, we are going to do it."
Jim Alexander is a tradesman; however, his 21 years as a refrigeration technician almost never happened.
Jim got into the industry after taking an “accidental” job, and he fell in love with the work. His passion for challenges, troubleshooting, and service quickly moved him from service technician to operating his own branch. In 2012 Jim teamed with two friends to form a company that offered refrigeration and electrical services—RCA Holdings.
After three years, RCA had grown so quickly that Jim and his partners needed extra capital to meet their clients’ needs. Although initially skeptical, Jim warmed to the Banyan Ventures team and the possibilities additional funding could provide.
Since Banyan’s investment, the RCA team has acquired several other services businesses that now form Kore, a full-service refrigeration business operating in six states throughout the Mountain West. Jim serves as Kore’s Chief Technology Officer and VP of Service.
“Our partnership with Banyan has revolutionized our company. In the past six years, we have grown from six employees to 150. That would not have been possible without Banyan. Their passion, vision, and hands-on approach have bridged the gap of understanding between the trade side and business side of our company."