Greg LaLonde is not shy about pointing out his shortcomings.
In fact, he recognizes them so well that he has no problem stepping aside to let others lead in areas where he doesn’t measure up to his own expectations. That realization — and, perhaps more important, the realization of where he can add the most value — has turned Triplefin LLC from a turnaround story into a growth fairy tale.
When Triplefin was acquired in 2003, the company had about $3 million in revenue and was hemorrhaging cash. After finding stability, LaLonde and his team knew if they wanted to build the company they hoped for, they couldn’t just rely on organic growth.
As a result, today, LaLonde dedicates a third of his time to growth through acquisitions.
“It’s not to diminish the organic growth,” LaLonde, the CEO, says. “I think that even comes first and not by accident in our statement or goal. But again, I recognize I’m not as good as my colleagues in any sense in making that stuff happen, the organic side, so I emphasize the acquisition front of that goal.”
LaLonde says his interest in the topic is based on a lack of patience. But that haste, coupled with organic growth, is what has turned Triplefin into a $115 million provider of outsourced infrastructure, such as order processing and customer relations, for the consumer products and health care industries.
Here’s how LaLonde contributes to Triplefin’s growth by mapping out the acquisition process before picking up the phone.
