Man of steel grows Lisle company

Denton Nordhues played a vital role in the successful turnaround of Lisle-based Leeco Steel following the economic crisis in 2008. The CEO is again charged with providing guidance to pull the company through financially trying times.

When Nordhues joined the company 21 years ago, it was on the verge of bankruptcy. He played a significant role in a successful turnaround. Fearing that COVID-19 could bring the economy to its knees, the executive will again rely on what helped guide Leeco Steel through the first time - the employees. He said they have built a culture where employees know that no one is more important than the other.

"Everyone wants to do well and we put people in roles where they can succeed," he said. He looks for competitive people when hiring.

While he admits the months ahead will be tough, he is also optimistic. "We're going to get through it, but it's going to hurt for a while," he said.

Nordhues' leadership and drive are part of the reason the company was selected as a 2020 honoree for the Daily Herald Business Ledger's 30th Annual Awards for Business Excellence in the large company category.

Leeco Steel, a steel plate supplier, has remained in operation during Gov. J.B. Pritzker's shelter in place executive order. Nordhues, 49, explained that most of their customers, which includes the military, have been deemed critical. At the end of March, he said business was down about 20% and he expects in the months ahead that they will be doing half the business they usually do. Leeco is a distribution company that specializes in suppling fabricators and manufacturers with steel plate used in a variety of applications, from the construction to wind energy industries.

History and growth

Leeco Steel was founded by Leopold Cohen in 1882 as Leopold Cohen Iron and Metal. Located on Chicago's West side, the business remained family-owned for three generations until 1997, when employees partnered with an investment firm to buy the company. Leeco was a successful ESOP until it was purchased in 2005 by Birmingham, Alabama-based O'Neal Industries, the nation's largest family-owned network of metals service centers and component and tube manufacturing businesses.

Leeco had many organizational evolutions and periods of growth over the years. A major strategic shift in the business occurred in the late 1990s to focus exclusively on supplying steel plate. "We had to focus on what we are good at," said Nordhues, who joined the company in 1999 as director of strategic planning. Living in Naperville with his wife and three daughters, he was named president/CEO in 2008.

The company has seen tremendous growth. Leeco is now nearly 17 times the size it was in 2003, having tripled between 2008 and 2019. Leeco, with operations in Canada and Mexico, has 14 sales and distribution locations throughout North America and moved its headquarters to Lisle, where about 50 employees are located. Leeco added 65 new employees in 2018 and 2019 and currently has about 165 employees.

The future

Creating opportunities to enter new markets and expand distribution capabilities is important in encouraging future growth, company leaders said. Leeco recently opened two new distribution facilities. In March 2019, Leeco opened a U.S. distribution facility in the Atlanta, Georgia area. And it moved to a larger distribution center in Hamilton, Ontario.

The growing company has an array of customers. Nordhues said Leeco serves the energy, oil and gas, wind tower and electrical power line companies. He added they also do a great deal of work in the construction industry, including providing steel for rail cars, dump trucks and armor plates for military vehicles.

Leadership

Nordhues grew up on a farm in northeast Nebraska and earned his bachelor's degree in mathematics and statistics at the University of Nebraska. He admitted that this was not the road he was planning when he graduated. "I got in this industry. It got into my blood and it's a great industry to be in," he said. He earned his MBA from the Charles H. Kellstadt Graduate School of Business at DePaul University.

Nordhues believes he is a strong leader. "I'm empathetic. I often put myself into the shoes of the employee. This helps me make better decisions," he said.

He added that he is also a quick decision-maker. He points out that he is also willing to admit he's wrong and then is able to change the decision to make it right.

If he were to give a tip to other CEOs he would suggest to "be genuine." He says it's important to earn the trust of employees. "Focus on the employees first and put them in a spot to win."

Leeco Steel

<b>1011 Warrenville Road, Suite 500</b><b>Lisle, IL 60532</b>Founder: Leopold Cohen

When founded: 1882

CEO: Denton Nordhues

Number of employees: 165

Sample of markets it serves: Energy, wind, oil, military, construction

Growth: Nearly 17 times the size it was in 2003