News Releases
Strategy Milling Increases Daily Production 66% by Financing New Equipment
By Luci Casile, Business Banking Relationship Manager, KeyBank and Susan Krieger, Key Equipment Finance
Strategy Milling is the most experienced, large-scale, commercially viable source for Direct CAD/CAM milled gold crowns in North America. Strategy Milling's CEO, Scott Mappin, wanted to increase his company's production to grow his business and solidify his company's reputation as the premier provider of precious metal dental restorations.
Challenge
Strategy Milling is the leader in direct milled CAD/CAM (Computer-aided design and Computer-aided manufacturing) gold dental restorations and manufacturing precise, sharp contoured and excellent fitting dental restorations. The company developed a process to create virtually porosity-free pucks of noble and high noble gold alloys to mill from with high-quality results. The accuracy and repeatability of the milling process is remarkable, thanks to the state-of-the-art milling machines with tight tooling parameters. Milling eliminates the many issues related to spruing, burnout, and casting, offering predictable and efficient results.
In nine years, Strategy has no record of a milled bridge needing soldering or welding. Cumulative accounting for the dollar value of all items listing exceeds outsourcing costs while increasing fit quality. Additionally, while Strategy manages these restorations, technicians can focus on manufacturing other products, increasing laboratory production.
"By allowing us to purchase state-of-the-art equipment, at relatively low overhead, KeyBank is allowing us to grow our business, maintain a healthy work/life balance for our team, and continue providing excellent service to our customers and their customers alike."
Scott Mappin, Chief Executive Officer, Strategy Milling
Strategy Milling has a keen focus on superiority in production through efficient processes and continuous improvement. The company's business reputation is built on a superior end product, timely delivery and the customer service they provide to their customers and ultimately, the patients. Further, the future of this business is direct milled, full contour gold restorations, and milled substructures, which require the modern milling machinery they use.
"As I talked with Scott, and learned more about his business, his drive for growth and success, and his true passion for the craft of dental milling and continuous improvement, I knew KeyBank could offer solutions that align with his business growth goals," said Luci Casile, business banking relationship manager, KeyBank.
KeyBank worked with Mappin to identify a business refinancing option and a line of credit to Strategy Milling that allowed the company to continue its focus on growing the business through innovative production methods and smart use of resources.
To aid in providing efficient service and a high-quality finished product, Strategy Milling needed to increase its machine production by purchasing two additional top-of-the-line dental milling machines at a total cost of $1M. The machines would allow Strategy Milling to increase production, while also optimizing use of raw materials.
"I knew this was an ideal time to introduce Scott to Susan Krieger at Key Equipment Finance, and investigate equipment financing options," said Casile.
"Luci at KeyBank took the time to listen and assure us she understood who we are, and what our short- and long-term goals are."
Scott Mappin
Solution
State-of-the-art digital milling machines would allow Strategy Milling to ensure steady production with minimal downtime – the machines run 24/7 and are managed remotely – while reallocating the limited human resources to other crucial business tasks.
"Luci and I knew Scott had big ambitions for his business, and we wanted to help," said Susan Krieger, vice president, Key Equipment Finance. "He had several options and my goal was to inform him of all equipment financing possibilities and answer any questions he had as he determined how to move forward."
Results
"Luci at KeyBank took the time to listen and assure us she understood who we are, and what our short- and long-term goals are," said Mappin. "I appreciate that she believed in Strategy Milling and what we're trying to do. I truly enjoyed working with Luci and Susan through the finance of our new milling machines.
"We leave at 5 p.m. and return the next day at 8 a.m. to a cabinet full of product ready to ship," said Mappin. "That's the quality-of-life factor for our team, and the gravy is in the ROI. We look forward to growing our business by expanding production and maintaining a healthy work-life balance.
"I definitely recommend the experts at KeyBank and Key Equipment Finance for anyone seeking refinancing and equipment financing for their business," said Mappin.