Dickey Manufacturing

Vintage photograph from the company’s history

Picture includes from left to right: Terry Mauger, Carol Johnson (Former Owners/Sellers); Ryan Sullivan, Will Osler (New DMC president), and Greg Topel (NPG Partner). 

Since 1911, Dickey OpCo, LLC (“Dickey”) has been designing, manufacturing, and partnering with the world’s leading organizations to create an expansive range of security seals and tamper-evident solutions including cable seals, metal strip seals, lead and wire seals, plastic seals, and pallet security kits. Headquartered in St. Charles, IL, Dickey had been a family-owned business for over a century.  North Park Group acquired Dickey in March 2024 but intends to continue the family’s legacy.

North Park Group is a collection of manufacturing business executives that acquire and operate US-based small and mid-sized manufacturing and distribution businesses under a long-term model. Backed by approximately 40 investors, the group works with privately owned businesses to provide ownership transitions allowing companies to achieve shareholder goals and objectives. Ryan Sullivan, Managing Director of North Park Group, shared how utilizing the 504 Loan Program eased the transition and included some advice for new entrepreneurs.


What inspired you to become an entrepreneur?

North Park Group has purchased multiple manufacturing companies and loves the opportunity to acquire niche manufacturers and take them to the next level. Some wins are easy, and others are more challenging. But through our vast experience, we can often leverage learnings and help the companies in our portfolio.


How has the 504 Loan Program helped your business? 

The vast majority of our purchase price was real estate, so the 504 loan was able to alleviate the need to fundraise yet provide a fair interest rate on the building and let us focus our capital on shoring up working capital and making capital improvements.


Any notable business accomplishments you would like to share?

We now have the first quarter under our belt and have learned a tremendous amount. We look forward to taking Dickey to the next level.


What has been your most satisfying moment in business?

Knowing you made an improvement. Whether it’s improving margin, or the way we present accounting, or making the employee experience better, we love to challenge the status quo and make things better.


If you could impart one piece of wisdom to a budding entrepreneur, what would it be?

Year one…don’t mess it up. Don’t try to reinvent the wheel and change everything. Just keep the status quo. Take time to learn the business and industry.  Year two is when you can take it to the next level.

Sullivan added that North Park Group did not seek other means of financing before partnering with Growth Corp for the 504 Loan and that the process was smooth. He continued by saying that his team was “relieved” when they were approved for an SBA 504 loan. Dickey’s location in St. Charles is within a revitalization and redevelopment district. By remaining at this location, all current jobs will be retained to stabilize the economy. Additionally, Sullivan anticipates growth will bring additional employment opportunities to improve and strengthen the community.


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Do you have a story of how Growth Corp’s SBA 504 Loan Program helped your business succeed?  Let us know!  Just fill out the Celebrate Your Business_Inquiry Form and return it to vanhala@growthcorp.com



Posted on

June 18, 2024