Fred A. Lennon
Encyclopedia
Fred A. Lennon was an American
manufacturer and philanthropist. He was the founder and chairman of Swagelok Company
.
Known for avoiding attention, Forbes magazine once described him as "the shiest billionaire".
, to Patrick and Catherine Lennon, as the youngest of their nine children. By the age of 42, he was living with his wife in an apartment in Cleveland, Ohio
, when he borrowed US $500 from his wife’s uncle to buy The Crawford Fitting Company later to be renamed Swagelok Company. Running the small business from the kitchen in his home, he bought out his partner, Cullen B. Crawford and the patent of the Swagelok Tube Fitting, a revolutionary two-ferrule compression-type fitting for fluid handling systems.
, it steadily expanded into a large, international manufacturing corporation. Under Lennon’s leadership, Swagelok gradually became a Fortune 500 Privately Held Company, producing thousands of products, and holding over US$
1 billion in assets and employing a staff of 3,000. In leading the company for over 50 years, Lennon never missed a day of work.
. He counted among his personal friends former President Ronald Reagan
and former Ohio Governor George Voinovich
(he helped both with their election campaigns). Though playing a public role, he preferred to stay a private man, generally preferring to stay out of the limelight whenever possible. He lived with his wife, Alice, and their two children in Hunting Valley, Ohio
.
, and president of Gilmour Academy
in Gates Mills
. He created the Fred A. Lennon Foundation, which between its establishment in 1965 and its dissolution in 1995, donated millions to a variety of schools, nonprofit foundations and charities. Following his death in 1998, The Fred A. Lennon Charitable Trust was created to honor him posthumously, and has continued to fund and assist schools and charities in the region.
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
manufacturer and philanthropist. He was the founder and chairman of Swagelok Company
Swagelok
Swagelok is a privately held international company, focusing on the manufacture and sale of gas and fluid systems components, such as tube fittings, valves, tubing, and gauges. It was founded in 1947 by Fred A. Lennon in Solon, Ohio, where its headquarters remain...
.
Known for avoiding attention, Forbes magazine once described him as "the shiest billionaire".
Early life
Fred Lennon was born in Providence, Rhode IslandProvidence, Rhode Island
Providence is the capital and most populous city of Rhode Island and was one of the first cities established in the United States. Located in Providence County, it is the third largest city in the New England region...
, to Patrick and Catherine Lennon, as the youngest of their nine children. By the age of 42, he was living with his wife in an apartment in Cleveland, Ohio
Cleveland, Ohio
Cleveland is a city in the U.S. state of Ohio and is the county seat of Cuyahoga County, the most populous county in the state. The city is located in northeastern Ohio on the southern shore of Lake Erie, approximately west of the Pennsylvania border...
, when he borrowed US $500 from his wife’s uncle to buy The Crawford Fitting Company later to be renamed Swagelok Company. Running the small business from the kitchen in his home, he bought out his partner, Cullen B. Crawford and the patent of the Swagelok Tube Fitting, a revolutionary two-ferrule compression-type fitting for fluid handling systems.
Business leadership
Moving the company to Solon, OhioSolon, Ohio
Solon is a city in Cuyahoga County, Ohio, and is an affluent suburb of Cleveland in the Northeast Ohio Region, the 14th largest Combined Statistical Area in the United States. As of the 2010 census, the city population was 23,348...
, it steadily expanded into a large, international manufacturing corporation. Under Lennon’s leadership, Swagelok gradually became a Fortune 500 Privately Held Company, producing thousands of products, and holding over US$
United States dollar
The United States dollar , also referred to as the American dollar, is the official currency of the United States of America. It is divided into 100 smaller units called cents or pennies....
1 billion in assets and employing a staff of 3,000. In leading the company for over 50 years, Lennon never missed a day of work.
Personal life
Lennon was an enthusiastic supporter of private business interests and an active member of the Republican PartyRepublican Party (United States)
The Republican Party is one of the two major contemporary political parties in the United States, along with the Democratic Party. Founded by anti-slavery expansion activists in 1854, it is often called the GOP . The party's platform generally reflects American conservatism in the U.S...
. He counted among his personal friends former President Ronald Reagan
Ronald Reagan
Ronald Wilson Reagan was the 40th President of the United States , the 33rd Governor of California and, prior to that, a radio, film and television actor....
and former Ohio Governor George Voinovich
George Voinovich
George Victor Voinovich is a former United States Senator from the state of Ohio, and a member of the Republican Party. Previously, he served as the 65th Governor of Ohio from 1991 to 1998, and as the 54th mayor of Cleveland from 1980 to 1989.-Personal life:Born in Cleveland, Ohio, his father was...
(he helped both with their election campaigns). Though playing a public role, he preferred to stay a private man, generally preferring to stay out of the limelight whenever possible. He lived with his wife, Alice, and their two children in Hunting Valley, Ohio
Hunting Valley, Ohio
Hunting Valley is an affluent village located east of Cleveland in Cuyahoga and Geauga counties in the Northeast Ohio region, the 14th largest Combined Statistical Area in the United States. As of the 2010 census, the village population was 705...
.
Philanthropy
Lennon was active in, and contributed much to, a variety of charitable and nonprofit organizations in Ohio. He was a founder and chairman of The Ashbrook Center for Public Affairs at Ashland UniversityAshland University
Ashland University is a mid-sized, private, non-profit university that is located in Ashland, Ohio.The University offers 73 undergraduate majors and nine pre-professional programs. The majors include toxicology/environmental science and entrepreneurship, which are unusual for an institution of its...
, and president of Gilmour Academy
Gilmour Academy
Gilmour Academy is an independent, Roman Catholic, coeducational, college-preparatory school in the Cleveland suburb of Gates Mills, Ohio. Founded in 1946 by the Brothers of Holy Cross, it offers a Montessori preschool program and traditional kindergarten through grade 12. A boarding program is...
in Gates Mills
Gates Mills, Ohio
Gates Mills is a village in Cuyahoga County, Ohio, United States. The population was 2,270 at the 2010 census. Gates Mills is an affluent suburb of Cleveland...
. He created the Fred A. Lennon Foundation, which between its establishment in 1965 and its dissolution in 1995, donated millions to a variety of schools, nonprofit foundations and charities. Following his death in 1998, The Fred A. Lennon Charitable Trust was created to honor him posthumously, and has continued to fund and assist schools and charities in the region.