89. Lessons Learned from Buying & Losing a Machine Shop | Mark Heston
Release Date: 10/08/2025
92. Are PE Firms Ruining Machining? A New & Better Model for Buying Shops with Mark Hillenburg
Machine Shop Mastery
Over the last decade, I’ve watched private equity surge into the machining world — and I’ve seen firsthand how often the short-term flip-in-five-years strategy ends up hurting shops, people, customers, and entire supply chains. While the capital can help, the incentives often drive decisions that weaken the very businesses PE firms acquire. But every now and then, someone comes along with a model that stops you in your tracks because it actually makes sense for our industry. That someone is Mark Hillenburg, co-founder of Collective Manufacturing Group, a company built on a...
info_outline
91. Passion and Excellence Personified with Ty Haguewood
Machine Shop Mastery
As a host, I’ve met hundreds of shop owners, but every once in a while, I meet someone whose story stops me in my tracks. Ty Haguewood, General Manager and CFO of Manufacturing Technologies, Inc. (MTI) and Stone Mather Designs (SMD), is one of those people. Ty didn’t grow up in manufacturing—he was a finance professional who took a random tour of a machine shop six years ago and walked out forever changed. What started as curiosity became a calling. Today, Ty helps lead two growing businesses north of Albuquerque, New Mexico—one serving precision aerospace customers and...
info_outline
90. Burnout Killed This Machine Shop
Machine Shop Mastery
When you’ve poured 46 years of your life into building a thriving precision machine shop—one that grew from a one-man garage to 50 employees, world-class equipment, and top-tier aerospace customers—you don’t expect it to end with burnout. In this deeply candid episode, I sit down with Cody Sisson, a lifelong machinist who built a remarkable business through decades of grit, innovation, and commitment to excellence—only to watch it collapse under the weight of exhaustion, health crises, and a perfect storm of setbacks. Cody opens up about the early days of his shop, the thrill of...
info_outline
89. Lessons Learned from Buying & Losing a Machine Shop | Mark Heston
Machine Shop Mastery
In this powerful and deeply candid conversation, I sat down with Mark Heston, who first appeared on Episode 51 to share his story of buying and rebuilding an aerospace machine shop specializing in landing-gear components. At that time, the business was on an upward trajectory — improving culture, repricing work, and investing in growth. But behind the scenes, hidden challenges were forming that would ultimately lead to an unexpected and difficult ending. In this follow-up episode, Mark opens up about what happened next—the liquidity crisis, the missteps in financial due diligence, and the...
info_outline
88. Learning, Building & Teaching with John Saunders
Machine Shop Mastery
I’ve admired John Saunders for a long time. Most of you probably know him as the force behind the NYC CNC YouTube channel, the Business of Machining podcast, and of course, Saunders Machine Works. John has been creating content, teaching, and inspiring machinists since long before it was “cool” to do so online. In fact, he’s one of the first people I think of when someone says they learned machining from YouTube. When we sat down for this conversation, I wanted to go deeper than the usual “how’d you get started” story. We talked about the real journey of moving from hobbyist to...
info_outline
87. People and Technology: Building an Enduring Shop
Machine Shop Mastery
When I think about the shops that inspire me most, it’s the ones that balance cutting-edge technology with a deep investment in people. That’s exactly why I loved sitting down with Steve and Eric Van Orden of Paramount Machine in Salt Lake City, Utah. Steve started Paramount back in 1995 with nothing more than a manual mill and a garage shop. Fast forward nearly three decades, and the company has grown into a 75-person operation with more than 30 machines, including palletized horizontals, multi-spindle lathes, and 5-axis mills. What impressed me most, though, wasn’t the...
info_outline
86. Using Business to Build People: Sam Thevanayagam’s Model for Manufacturing Leadership
Machine Shop Mastery
When I think about inspiring stories of resilience and vision in the world of manufacturing, Sam Thevanayagam’s journey is one that stands out. In this episode of Machine Shop Mastery, I sit down with Sam, the founder of Parts Life Inc. and the leader behind Deval Lifecycle, to unpack his incredible path from Sri Lanka to Philadelphia, from downsizing his home to fund his dream, to acquiring a bankrupt business and transforming it into a thriving, mission-driven company employing nearly 200 people. What struck me most about Sam is not just his sharp business acumen or the bold risks he’s...
info_outline
85. Buying a Machine Shop for All the Right Reasons - Scott Bruneau from Delaware Metals
Machine Shop Mastery
What happens when two people with a shared vision for community, craftsmanship, and legacy decide to take the leap into shop ownership? For Scott and his wife, the answer is Delaware Metals. In this inspiring conversation, Scott Bruneau shares how he and his wife purchased a decades-old, well-run machine shop—not as a quick flip, but as a long-term investment in American manufacturing, their team, and their community. With over 20 years in the industry himself, Scott knew the road ahead would be demanding. But armed with a clear “why,” a strong culture-first mindset, and a...
info_outline
84. Facing Fears and Building an Emotionally Safe Workplace | Dana Gruber
Machine Shop Mastery
What if the next frontier of manufacturing leadership isn’t on the shop floor—but in the hearts and minds of your people? In this episode of Machine Shop Mastery, Paul sits down with Dana Gruber, third-generation owner and president of ATCO Tool & Manufacturing. Dana didn’t grow up on the machines—she came from a career in cosmetology—but found herself drawn back into the family business with a mission that goes beyond precision parts: Creating an emotionally safe and psychologically aware workplace. From investing in cutting-edge technology like 3D metal printing to redefining...
info_outline
83. Crafting Success: Insights from Barry Walter Jr. on Company Culture
Machine Shop Mastery
In this episode of Machine Shop Mastery, I sat down with Barry Walter Jr., and I have to say—this one lit me up. Barry’s a machine shop leader who brings heart, humility, and a whole lot of wisdom to the mic. From rebuilding a multi-generational business to designing a culture where “shit flows uphill” (his words!), Barry has transformed a plumbing parts OEM into an 8-figure, high-mix/low-volume powerhouse with 37 team members, 15 CNC lathes, and a customer service model that makes his buyers the heroes. What struck me most is how intentional Barry is—not just with his machines or...
info_outlineIn this powerful and deeply candid conversation, I sat down with Mark Heston, who first appeared on Episode 51 to share his story of buying and rebuilding an aerospace machine shop specializing in landing-gear components. At that time, the business was on an upward trajectory — improving culture, repricing work, and investing in growth. But behind the scenes, hidden challenges were forming that would ultimately lead to an unexpected and difficult ending.
In this follow-up episode, Mark opens up about what happened next—the liquidity crisis, the missteps in financial due diligence, and the sequence of events that forced him and his partners to file for bankruptcy and sell the company through a Chapter 11 restructuring. He speaks with transparency about what went wrong, what he learned, and what he wishes every buyer, seller, and operator in manufacturing would know before it’s too late.
Together, we explore critical lessons in capitalization, cash-flow management, financial literacy, and the danger of relying on inaccurate numbers. Mark emphasizes the difference between profitability and liquidity—how a shop can look successful on paper but suffocate in reality when cash conversion cycles stretch too far. He also shares why “trust but verify” should be every acquirer’s mantra when reviewing a seller’s books.
This is not a story of failure. It’s a story of brutal honesty, hard-earned wisdom, and resilience. For anyone buying, running, or selling a machine shop, this episode is required listening. It’s a reminder that the toughest conversations often teach the most valuable lessons.
You will want to hear this episode if you are interested in...
- (0:53) revisiting Mark’s original episode and the shop’s turnaround story
- (3:47) Buying a $7–8 million aerospace landing-gear machine shop in New Jersey
- (5:06) The dark, difficult realities of machine shop ownership
- (6:13) Check out the SMW Autoblok catalog to leverage RASRAM
- (7:38) The two biggest challenges: Unreliable financial data and under-capitalization
- (9:45) Liquidity vs. profitability — “cash is oxygen” for any machine shop
- (13:25) Doing due diligence right: Stress-testing scenarios and working capital needs
- (15:40) The danger of leverage (and when debt turns into a liability)
- (17:11) The importance of hiring a trained eye to validate what you’re seeing
- (19:08) Focus on the fixing the balance sheet before anything else
- (22:19) Customer cancellations, Boeing delays, and a bad material batch
- (25:08) How one wrong material spec halted production
- (27:17) Don’t let outside processing keep you awake at night
- (30:01) Why attention to detail in inspection and receiving matter
- (32:05) Capitalization and line-of-credit lessons
- (34:36) Growth, pricing decisions, and the danger of being too cautious
- (36:30) Job costing challenges and why small shops often fly blind
- (39:20) When small-business financials mislead (tax tactics and poor data)
- (41:21) The sale, Chapter 11 process, restructuring and new ownership
- (44:21) Employee retention and operations continuing
- (44:47) Workholding Wisdom: SMW Autoblok’s flexible, automation-ready workholding
- (51:10) A reminder why cashflow is king in any market—even thriving ones
- (55:42) What to think about (and do) if you’re planning on selling your business
- (1:01:26) Make sure you’re not emotionally attached to buying a business
- (1:07:00) Why we created Hire MFG Leaders to help you find your next leaders
Resources & People Mentioned
- Episode #11
- Episode #51 with Mark
- Episode #64 with Jereme Rodgers
- Check out the SMW Autoblok catalog to leverage RASRAM
- Get the transparency you need from outside processors at Phoenix Heat Treating
- Use Hire MFG Leaders to help you find your next leaders
Connect with Mark Heston
- Connect on LinkedIn
Connect With Machine Shop Mastery
Subscribe to Machine Shop Mastery on
Audio Production and Show Notes by - PODCAST FAST TRACK