Creating a One-on-One Relationship to Meet Needs
W
ater used in heating and cooling systems must be monitored and treated so that the systems run efficiently and effectively. AP Tech Group creates innovative products to treat water in this important industry.
Traditionally, water treatment products are shipped in 55-gallon drums filled with liquid chemicals. While it is the standard, it is cumbersome and expensive to ship because of the weight and size of these drums. AP Tech Group founder James Heimert changed this around 32 years ago. He developed a way to capture the same liquid chemicals held in large drums in a solid concentrated form.
AP Tech Group became a family legacy in 2011. James' daughter, Katie Lee, joined his team that year and now serves as CEO.
“Water treatment was a dinner table topic for us,” she remembers. “That may sound strange, but it was a breakthrough. No one else could create a product in solid form at the time. Think of how much more efficient, safe, and sustainable a case of solids is compared to a huge drum.”
In 2018, the company moved from Blue Ash, Ohio, to West Chester, which demanded a huge amount of capital. Through the process, the company became disappointed in their former bank’s responsiveness and found themselves lacking a reliable relationship.
When LCNB’s David Stitsinger approached them, through a connection with AP Tech’s builder, they were ready for a change. LCNB started by servicing the company’s loans and day-to-day treasury function and now handles the entire relationship, from deposits to cash management and beyond.
“We hadn’t had that one-on-one relationship in a long time,” Katie said. “Dave answers my calls and proactively offers suggestions and advice. He’s brought other people over from the bank to learn about our company so they can all understand what we need.”
The COVID-19 pandemic posed a cashflow challenge due to many factors. Though the company was deemed essential and kept operating, production slowed. AP Tech's leadership knew demand would surge as restrictions were listed, so they kept everyone on staff. At the same time, raw material shortages caused price increases, and payment terms were extended by both receivables and payables. LCNB was right by their side through this difficult time—making certain they had access to the resources they needed to weather the storm and were prepared for the market when it returned.
“They run a very specific type of business. It’s not a product you pick up at a store down the road,” David said. “We knew we had to understand what they were doing and what they needed.”
For AP Tech group, the next five years look even better. With Katie operating as CEO, Jim has returned to his first love of chemistry development. He’s glad to be back in that space and helping the company continue to innovate.
“I’m very happy to bank with LCNB. We love the assistance they provide and the personal relationship,” Katie said.
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