Ingrams September 2023

Keith Copaken PRINCIPAL, COPAKEN BROOKS

John Cosentino EVP, COSENTINO FOOD STORES

Six million square feet. That’s the better part of a square mile. And that’s the career impact that Keith Copaken has had on the Kansas City commercial-realty scene with office and retail space. And no, that doesn’t include parking lots. He’s part of a multigenerational family business that has left its fingerprints not only on the Down town skyline but, most recently, on Lenexa’s stunning reimagination of its own Downtown.

Most every employer has felt the sting of a tight labor market the past few years, but for John Cosentino—anyone, really, in the grocery business—it causes just a bit more discomfort. That’s because any additional costs to recruit, train and retain labor will further pinch the bottom line in a sector that has among the lowest margins in American business, between 1 and 3 percent.

COLLEGE: B.A. Economics, University of Pennsylvania; Master of City Planning and Real Estate, University of California-Berkeley

FAMILY ROOTED: Their grandfather’s fruit stand was the kernel that would flower into a grocery enterprise launched by his children. Now, more than two dozen members of the extended Cosentino family are employed by the this grocery enterprise, which in addition to John is led by other members of the second generation: Donnie, David, Victor and Jimmy Cosentino. MULTIPLE FLAGS: In addition to the Cosentino’s Market brand, other operations in the fold are Price Chopper, Sun Fresh or Apple Market stores. ALWAYS NEARBY: With 30 stores in the greater Kansas City area, the company generates sales metro-wide. MORE THAN EATS: Consumer demand for more one-stop shopping over the years has spawned additional store services with Cosentino’s Pharmacy, and there’s even a catering division.

LANDMARK DEALS: Copaken has also been part of putting together the joint venture and third-par ty debt for the Plaza Colonnade and bringing Nordstrom to the retail roster at Oak Park Mall. SIGNATURE STATEMENT: The firm has been a key part of the public-private partnership that led to City Center Lenexa, now about one-third of the way to its completed vision of 2 million square feet of mixed-use retail, office, and residential development. DOING THE DEALS: In addition to Nordstrom, Copaken has worked with big-name retailers like Target, Dillard’s, Walmart, and JCPenney to establish their brick-and-mortar presence in the Kansas City region. HIGH PRAISE: He was inducted into the Midwest Commercial Real Estate Hall of Fame in 2015, and the firm was the Kansas City Chamber of Commerce’s 2013 Small Business of the Year.

Fred Coulson MANAGING PARTNER, FIVE ELMS CAPITAL

Tim Cowden PRESIDENT/CEO, KANSAS CITY AREA DEVELOPMENT COUNCIL Cowden believes the KCADC’s recent successes are a reflection of this region’s vibrance. “In 2022,” he said, “KCADC and its partners from across attracted 10 new companies to the area, generating $5.5 billion in capital investment” that will yield more than 5,400 new jobs. That includes the Panasonic and Meta “megaprojects” in Kansas and Missouri. This year we’ve landed 13 new companies, generating $715 million in capital in vestment to create 2,300 jobs. And we still have a quarter left in the year.”

Fred Coulson keeps it simple: The venture-capital group he founded in 2006 lasers in on early-stage companies with between $2 million and $20 million in revenues, brings between $5 million and $75 million in capital to the table, and takes a significant position within each, either as minority or majority owner. How’s that working out? Well, with nearly two dozen exits in either IPOs, sales to private-equity firms, or acquisitions by firms with names like KPMG, Groupon, and K1.

COLLEGE: B.S., Business Administration, University of Kansas BILLION-DOLLAR BOUND: From an initial investment fund of $21 million at the founding, Coulson has built an enterprise with $780 million in its fifth iteration—that’s more than double the $330 million in its fourth fund, rolled out in 2019. QUOTABLE: “Our best-performing companies are obsessed with company culture—it’s crucial to their success,” Five Elms states. “We have a very simple playbook … great products + great people = great outcomes.” IN THE STABLE: Five Elms currently lists investments in nearly three dozen companies, includ ing fast-growing Smart Warehousing in the Kansas City area and other companies as far-flung as England, Ireland, South Africa, Australia, and Italy.

COLLEGE: B.A., Journalism, University of Oklahoma RECESSION ODDS: “Every time the Fed raises the funds rate (interest rate), the chances for a reces sion increase proportionately. Sectors of the economy have already felt it—housing, tech, and some consumer goods. Others are continuing at a good clip—EV, FDI/reshoring manufacturing, which the Bipartisan Infrastructure Bill inspired. If we do go into a recession, I agree with the consensus among economists I have read that it will be a shallow one with a strong and quick bounce back. These are the economic times that KC typically fares better than other regions—particularly on the coasts.” NEXT BIG THING?: “I will let those who have more direct responsibility for regional ‘product improvement’ weigh in with specific ideas here. We will focus upon leveraging the new KCI for a new wave of economic development success as we now have a first and lasting impression that matches our exceptional region.” DREAM CHARITY MISSION: “Eliminate suffering and violent crime.”

Kevin Crutchfield PRESIDENT/CEO, COMPASS MATERIALS

Wiley Curran CHAIRMAN, CPC MANAGEMENT

It’s been quite a time over the past year at Compass Materials. Kev in Crutchfield completed a transaction to acquire full ownership of Fortress North America, a next-generation, long-term fire-retardant business, and secured two definitive agreements with leaders in the advanced battery and vehicle electrification sectors to supply 80 percent of Compass’ planned phase-one production volume of battery-grade lithium carbonate.

Wiley Curran is not about short-term gains. His company’s mission is to buy, build, and hold promising companies for the long-term. Just last month, it made another move by acquiring Ohio-based Trades Holding Co. the nation’s largest Mr. Rooter franchisee. Chalk up another 250 employees—and 215 trades professionals—in the CPC fold. Curran runs an enterprise with diverse holdings in manufacturing, aerospace, consumer products, chemicals, logistics and many other disciplines.

2022 REVENUES: $1.24 billion COLLEGE: B.S., Mining Engineering, Virginia Tech

COLLEGE: B.A., Finance, Miami of Ohio; MBA/Accounting, Cox School of Business, Southern Methodist Univ. FIVE KEY BATTLES: They can never be completely won, CPC says, but successful companies none theless wage a constant fight on five fronts; people/talent, operational systems, execution capabili ties, customer intimacy and product leadership. TARGETS: Limiting itself to one or two strategic acquisitions a year, CPC seeks deals where it can secure controlling interest in the $60-$120 million range, often with existing leadership given an opportunity to hold an equity stake, but going all-in on the purchase when necessary. LESSON LEARNED: One that got away involved the pellet-fired grill system Traeger, which met with enormous consumer demand after the firm had exited on its early investment. That sharpened the focus on holding companies for long-term growth and gain. TWO-TIME HONOREE: Curran is one of a comparative handful of high-achieving young executives from this region who have been recognized by Ingram’s in both 20 in Their Twenties (2013) and 40 Under Forty (2021).

RECESSION: “I learned a long time ago in my career to avoid making economic predictions. Like Yogi Berra once said, “Predictions are difficult, especially those that involve the future.” While the high inflationary environment over the past couple of years has certainly been challenging to our business, like so many others, we are a supplier of essential minerals to help keep people safe, feed the world, and enrich lives. Fortunately, the need for our products remains relatively consistent, regardless of the economic climate.” LEADERSHIP HIRE PRIORITIES: “In my experience, successful leaders need to bring more than just technical or deep subject matter expertise. They need to value people, keenly understand the benefits of collaboration, and be able to operate as part of a team. They should also be strong communicators, whether that’s to provide strategic direction to their teams, inspire improvement, or develop external partnerships.”

40

I n g r am ’ s

September 2023

Ingrams.com