Zach Clark thought he missed his chance to join Coronado Steel.
At the time, he was looking for a place where he could grow and take on more responsibility.
“I had seen a job posting for Coronado online. But when I went back to look again, it was gone. I figured I missed it.”
A short time later, a recruiter called describing a company that sounded very familiar. “I said, ‘That sounds like Coronado Steel.’ It was.
That call led to a meeting with founder Mike Phillips, and to Zach joining the company in 2018 as a foundry engineer.
A Founder-Built Business
Mike had built Coronado Steel into a respected specialty operation producing high-alloy stainless and heat-resistant castings for demanding environments like steel mills, petrochemical refineries, and heat-treat facilities. But like many entrepreneurial companies, the business revolved heavily around its founder.
“Mike ran the whole thing,” Zach shared. “Customers, decisions, operations. Pretty much everything flowed through him.”
The approach had worked for years. Mike had deep industry knowledge and strong intuition. But there was a challenge when the time came to sell: no clear successor and a business that relied heavily on him.
That kind of structure creates risk for long-term acquirors who look for strong operational leadership already in place. Mike recognized this and set to work developing a deeper bench.
That’s where Zach came in.
Getting His Hands Dirty
When he landed at Coronado, Zach did a bit of everything. “Engineering, production problems, quoting, quality issues. If something needed attention, I jumped in.” It was exactly what he had been looking for.
Over time, Zach gradually took more and more responsibility off Mike’s plate. The business had grown successfully for years through Mike’s instincts and experience, but Zach could see the next stage of growth would require stronger systems and clearer data.
“Mike might be the most intuitive person I’ve ever met,” Zach said. “He built a multi-million-dollar business largely on feel. But that comes with a lot of stress. There’s only so much one person could handle.”
So Zach started putting systems in place. Cleaning up processes, documenting things, and building a team that could carry more of the load. “I always thought if the place depends entirely on one guy, that’s not sustainable. Even if that guy is me someday.”
Kevin Bradford who joined Coronado shortly after Zach, brought a complementary skillset and became a key partner in shaping the business. “It was a 50/50 effort,” Zach shared. “This place wouldn’t be where it is today without him.”
Getting Ready for a Sale
As Mike’s exit plans began to take shape, Zach knew a sale was on the horizon and was instrumental through the process.
Seeing the business through that lens was eye-opening. “You start to realize what buyers are looking for,” he said. A lot of the work Zach had already been doing organizing operations and building internal capability suddenly mattered even more.
In 2024, Mike chose to sell the business to Canerector, an industrial acquiror, committed to buying and holding for the long term.
“I found out about six or eight months before the deal closed,” Zach said. “If I had known earlier that Mike was serious about selling, I probably would have tried to buy it myself.”
Canerector’s ability to complete acquisitions with cash offers owners something many buyers can’t: a clean transition with financial certainty.
And in Mike’s case, Zach suspects there may have been another factor.
“I think he was worried about me taking that on,” Zach said. “It’s not a small thing to borrow that kind of money. If something goes wrong, it’s not like you just walk away from it. That kind of risk follows you home.”
Stepping Up
After the acquisition, Canerector asked Zach to step into the General Manager role.
Zach admits he and the team weren’t sure what to expect. “You hear stories about companies getting bought and everything changing overnight”. But he trusted Mike. “Mike wouldn’t sell to someone who was just going to squeeze the place and flip it. That wasn’t his style.”
But one thing surprised him in a good way: the support from Canerector, and its broad network.
Strengthening the Foundation
One of Zach’s first priorities after the acquisition was something he’d wanted for years: better financial and operational visibility.
With Canerector’s support, Coronado has just finished implementing Epicor Kinetic, a move that will give them better visibility into production, costs, and performance. “When I started here, we basically ran the company on spreadsheets. The clarity we’ll get now is huge,” Zach exclaimed.
At the same time, Zach has continued focusing on the company’s culture and communication. This is reinforced through leadership and development programs made available across the Canerector network.
“I read a lot about leadership and team dynamics,” Zach shared. “Now we’re putting our supervisors through training too. Ten years ago, some of those guys might have thought that stuff was pointless, but once they go through it, they see the value.”
A Network of Industrial Businesses
Another advantage of joining Canerector has been access to a broader community. “There’s a lot of knowledge across the network. You just have to pick up the phone.”
Coronado regularly exchanges ideas with other foundries. Even outside the foundry group, connections are opening doors.
“We’re talking with other Canerector companies about things like environmental expertise or machining work,” he said. “You start meeting people in different businesses and realize how much opportunity is out there.”
Looking back, and ahead
Zach is clear on one thing: it all worked out the way it was supposed to.
“I’m happy with how it went,” he shared. “Canerector takes care of me, but more importantly, they take care of the company and the guys who work here.”
For Zach, that’s what matters. And with the right team in place and a stronger foundation underfoot, there’s no limit to what Zach and the Coronado team will accomplish next.