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US Small Business Administration Names Pegasus Manufacturing, Inc. as Exporter of the Year.
10/14/2005
Middletown Manufacturer Named Exporter of the Year
By Debra Susca / Freelance writer in Portland Todd DiPentima gives a tour of the modern 60,000-square-foot plant floor of Pegasus Manufacturing Inc. in Middletown. He points out the large oil-drum-like containers the firm has recently manufactured that will encase jet engines being shipped here and overseas. In another section of the plant, he shows off a copper-colored coiled rod used to burn tiny computer chips. Diversity is one of the hallmarks of this rapidly expanding company. Pegasus has ventured into the international arena in recent years and was named Small Business Exporter of the Year for 2004 by the Connecticut District Office of the U.S. Small Business Administration. “One of our strengths is our diversity — not only in our capabilities, but in our customer base,” says DiPentima, vice president of operations, who founded the company with his father in 1989. Pegasus — named for the Greek mythological winged horse, a symbol representing high-flying imagination — is a metal fabrication job shop and contract manufacturer offering design, engineering and inspection services. Its more than 240 clients come from the aerospace, telecommunications, food processing, power generation, nuclear and computer industries, as well as the military and government. The company’s foray into the global marketplace began in the mid-1990s when the firm began selling parts and equipment to OEMs (original equipment manufacturers) that had moved their operations overseas. However, Pegasus’ global business really began to take off with recent acquisitions that have brought a growing base of international clients. The company’s merger with then California-based Compair in 2002 brought every major international airline into its fold of customers, as well as GE and Pratt & Whitney. Compair, now a Connecticut-based division of Pegasus, is a world leader in the manufacture of turbine area measurement gauges, fuel control trim equipment, and
stator vane bending and measuring machines. Pegasus then acquired Precision Speed Manufacturing in 2004, a move that brought to the company another group of international accounts from within the aerospace industry. “Compair really sparked it,” says DiPentima of the firm’s growing international business. “It really opened our eyes and got us moving much more aggressively into the global marketplace.” According to DiPentima, Pegasus’ international sales have grown by 15% over the past two years, representing in excess of $2 million of the company’s $15 million annual sales. Most of that is from repeat business, but the company attends trade shows and continues to market aggressively to — and win — international clients. The company’s plans for further developing its international business include hiring sales representatives to market its capabilities and products to potential overseas clients. “In today’s constantly shifting marketplace, it’s important to keep diversifying and to globalize as much as possible,” says DiPentima. He says having multiple capabilities and a wide range of clients can help you weather cyclical trends that always occur within any one industry. “That way, when one area is down, you can focus on another.” Pegasus Manufacturing Inc.
Location: Middletown Connecticut
Key Contact: Todd DiPentima, Vice President
Services: Specialized metal fabrication job shop and contract manufacturer serving customers in the aerospace, telecommunications, medical and food processing industries, as well as the military and government
Employees: 125 in Connecticut ###
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