Milestone anniversaries are important in celebrating how a company has beaten the odds and remained a strong, ongoing concern through the many trials and tribulations encountered along the way. But as much as it is a time to thank employees and customers for their loyalty and dedication, it also offers a reflection point: ensuring that the company is well-equipped to handle the next segment in its business existence.
In the case of Ray Belanger, he wanted to solidify the succession plans of his company, Bay Copy of Rockland, Massachusetts. Having celebrated its 50th year in operation, the firm founded by his father, Ray Sr., needed to have the wheels set in motion that could carry it through the next 50 years and beyond. Belanger decided that UBEO Business Services of San Antonio, Texas, was the ideal steward to carry the Bay Copy torch.
In this segment of Two-Minute Drill, Belanger discusses the difficult decision to sell, why he felt the time was right and why UBEO provided the optimal landing spot for his family business.
Bay Copy was founded by your father and has flourished for more than 50 years. How long had you been considering a sale and how difficult was it to pull the trigger?
Belanger: I began to think seriously about selling the company in the year leading up to our 50th anniversary, which was in 2022. As we approached this milestone in our history, I realized that our company’s 50th anniversary would also mean that my tenure with the company had reached 40 years and that it might be the right time to begin planning for retirement. My father, Ray Belanger Sr., started the company in 1972, and I joined Bay Copy ten years later, in 1982, after having been in high tech sales in the Boston area for a few years. In 1992, ten years after I first came on board, my father retired and I bought out his interest and became the sole owner of the company. He remained one of the company’s biggest cheerleaders after the transition of ownership. As I evaluated options, it did not seem that another transfer within the family was in the cards, since my two children are happy in their respective careers in different industries. I wanted to find the best approach to ensure the successful continuation of Bay Copy for the sake of our employees and customers, and I began the process of searching for the right partner.
Why do you feel the time was right for a deal? Talk about some of the motivating factors in selling the business.
Belanger: I have worked in the business for 41 of its 51 year history, and it seemed like a good time to make the transition. I am proud to have taken Bay Copy through its 50th anniversary and to have been part of two generations of family ownership. One important consideration for me was seeing that our employees would be taken care of. Bay Copy has a great team with significant longevity and loyalty among our employees. UBEO is totally on board with keeping the team intact, and there is good chemistry between UBEO and us. My other consideration is being certain that our customers will be well cared for. UBEO has strong industry experience and a great reputation. They offer all services that we do and some additional ones. I am confident that our customers will be very well served.
Obviously, there were multiple organizations you could’ve chosen as a partner. What factors did you consider that led you to select UBEO?
Belanger: We were impressed with the UBEO team, and their reputation and accomplishments in the industry. They have treated this as a partnership; they are a large company with great resources. But they also understand the importance of local dealerships and the relationships that exist between these dealerships and their customers and community. As our discussions got underway and continued, we saw that UBEO’s core values align perfectly with our own – a customer-focused and employee-focused way of doing business.
Talk about how you feel Bay Copy will flourish under UBEO? Do you plan on remaining with the organization?
Belanger: Bay Copy should do very well under UBEO’s leadership. I believe that UBEO will strategically build upon the services and products that we have offered for over 50 years. My team and I have enjoyed our work and our interactions with their team in these early days of the transition as we go through the integration process, and are looking forward to a long and mutually beneficial partnership. I will remain with the company in the role of president through this year and will always be happy to help in whatever capacity as needed.
