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In 2019, PHCPPros launched the “Millennials On The Move” honorary listing in Plumbing Engineer, PHC News and The Wholesaler magazines. The listing was created to shed light on what is now the largest generation in the workforce, while also launching bigger conversations on topics such as industry recruiting, talent retention, leadership development and more. Now, we're expanding that conversation outside of the annual print listing with our monthly “Millennials On The Move” newsletter.
In our June spotlight, we introduce you to Nathan Wachtel, CFO of Masters' Supply!
PHCPPros: How did you get into the PHCP industry?
Wachtel: When not playing basketball, track or golf in high school, I always looked forward to helping out at Masters' Supply and continued to do so through the summer months when I travelled home for college break. I developed a lot of great relationships that continue still to this day. My father worked in the business and I was very lucky that, after graduating college, a position was available to begin a career.
PHCPPros: What have been some of your career highlights so far?
Wachtel: In late 2006, I was fortunate to play an integral role in opening a new branch. This was my first real experience in 'growing the business,' and we've since opened three other branches in both Kentucky and Indiana. In 2015, I led a major software migration project from a legacy system with about 100 users. After going live, I focused on creating sustainable processes to improve and streamline the outdated ones, and it resulted in increased efficiencies across the board. This allowed us to invest more in areas that added value to our clients. Of the many capital finance projects we've implemented, I am very pleased with the 2018 development of a brand-new headquarters facility in Louisville, Kentucky. This space offers a communal, almost campus-like, feel with an emphasis on collaboration between departments. Also, as we have seen our business expand, we are changing our distribution model. In January we purchased a 70,000-square-foot distribution center and plan for it to be online by mid- to late summer. Lastly, training and professional development programs have been a central mission of ours, as well to equip the future leaders in our firm with not only business knowledge but also the key concepts of our employee-ownership culture.
PHCPPros: Are you affiliated with groups and organizations in the PHCP industry?
Wachtel: We are affiliated with some great organizations: Affiliated Distributors (AD), American Supply Association (ASA), Southern Wholesalers Association (SWA), the National Kitchen & Bath Association (NKBA) and the BIA are our main industry associations. We're a charter member of CertifiedEO as a 100 percent employee-owned entity. I also belong to Financial Executives International (FEI) for continuing education in the fields of accounting and finance as well.
PHCPPros: Do you have any mentors in the PHCP industry or otherwise?
Wachtel: Our board of directors consists of individuals who own or lead similar companies across the country and I would consider what they do, in helping us lead our company and grow our business, as much of a mentorship benefit as any. Outside of them, I have personal friends working in the distribution space that I lean on for ideas, information and feedback. I meet with a running group on Saturday mornings for a jog and coffee at a local coffee shop afterwards where we spend time together discussing family, business and anything espressos inspire. Lastly, my father is still one of the main people that I turn to for advice in nearly every facet of my life.
PHCPPros: Do you consider yourself a mentor?
Wachtel: I definitely enjoy giving back and often find myself in a position to help others. Really, that is the best part of my job. Whenever I'm able to make an impact in the lives of others, I certainly don't want to miss that or mess that up.
PHCPPros: What does it mean for you to be featured as a PHCP Millennial On The Move?
Wachtel: Being recognized as a Millennial On The Move is a great honor and it certainly encourages me to continue to grow, change and lead our organization.
Do you know someone you would like to nominate as a PHCP Millennial On The Move? Email PHCPPros Digital Strategy Manager Nicole Meyer at firstname.lastname@example.org!