Ken Hendricks
Encyclopedia
Kenneth A. Hendricks was a businessman who grew a shingle
supply company into a $2.6 billion fortune and a spot on the Forbes 400
. Primarily associated with Beloit, Wisconsin
, Hendricks lived in nearby Afton
.
Hendricks, born and raised in Janesville, Wisconsin
, was a high school
dropout who joined his father in the roofing business, reshingling houses on weekends. He eventually started his own firm, which grew into a 500-man multi-state operation by 1971, a time when most roofers were still local. After giving the company to the employees so he would have more personal time, he started ABC Supply by purchasing 3 failing Bird and Sons locations. Through the years ABC Supply has expanded to almost 500 stores through new start-ups and acquisitions. Most recently ABC acquired the second largest roofing distributor Bradco Supply in 2010. ABC Supply has become the largest U.S. wholesale
r of roofing, siding, windows and gutter supplies, with annual sales over US$3 billion. This rapid growth is a direct result of Ken's vision that to be successful in a business you must put you employees first, if they are happy then they will continue to keep you customers happy. Hendricks remained the sole owner, and was added to the Forbes 400 in 2004. In 2006, with his personal wealth estimated at $2.6 billion, Hendricks was added to the Forbes list of the world's billionaires.
Hendricks also owned the Beloit Plaza
mall and the former Beloit Corporation manufacturing complex, much of which has been completely redeveloped; ABC Supply took over most of the disused Fairbanks-Morse
complex, as well. In 2008, he was posthumously awarded, with his widow Diane, a special "20 Year Award of Excellence" from the Downtown Beloit Association because they "nurtured a small movement" that re-energized the city business district.
In 2001, Hendricks was cited for exceeding the state's campaign laws mandating a $10,000 limit on political contributions. No legal action was taken.
Hendricks and his wife Diane owned and ran several other companies through the Hendricks Group. He was known for his interest in green building
technology, and was set to build an environmentally friendly roof for a complex at the 2008 Summer Olympics
in Beijing
. Hendricks was involved in efforts to build a new stadium for the Beloit Snappers
minor-league baseball team, and was the developer of a residential plot in Janesville.
In 2006, Inc.
named Hendricks its 2006 Entrepreneur of the Year award and he was featured on the magazine's cover. Inc. had ranked ABC Supply its #1 Inc. 500 business in 1986, after which it was too large to list.
In 2008, the film An American Carol
is dedicated in his memory.
Roof shingle
Roof shingles are a roof covering consisting of individual overlapping elements. These elements are typically flat rectangular shapes laid in rows from the bottom edge of the roof up, with each successive higher row overlapping the joints in the row below...
supply company into a $2.6 billion fortune and a spot on the Forbes 400
Forbes 400
The Forbes 400 or 400 Richest Americans is a list published by Forbes Magazine magazine of the wealthiest 400 Americans, ranked by net worth. The list is published annually in September, and 2010 marks the 29th issue. The 400 was started by Malcom Forbes in 1982 and treats those in the list like...
. Primarily associated with Beloit, Wisconsin
Beloit, Wisconsin
Beloit is a city in Rock County, Wisconsin, United States. As of the 2010 census, Beloit had a population of 36,966. The greater Beloit area is home to more than 91,000 residents.-Claim to fame:...
, Hendricks lived in nearby Afton
Afton, Wisconsin
Afton is an unincorporated community in the Town of Rock, in Rock County, Wisconsin, United States. The town hall for the Town of Rock is in Afton.-Notes:...
.
Hendricks, born and raised in Janesville, Wisconsin
Janesville, Wisconsin
Janesville is a city in southern Wisconsin, United States. It is the county seat of Rock County and the principal municipality of the Janesville, Wisconsin Metropolitan Statistical Area. As of the 2010 census, the city had a population of 62,998.-History:...
, was a high school
High school
High school is a term used in parts of the English speaking world to describe institutions which provide all or part of secondary education. The term is often incorporated into the name of such institutions....
dropout who joined his father in the roofing business, reshingling houses on weekends. He eventually started his own firm, which grew into a 500-man multi-state operation by 1971, a time when most roofers were still local. After giving the company to the employees so he would have more personal time, he started ABC Supply by purchasing 3 failing Bird and Sons locations. Through the years ABC Supply has expanded to almost 500 stores through new start-ups and acquisitions. Most recently ABC acquired the second largest roofing distributor Bradco Supply in 2010. ABC Supply has become the largest U.S. wholesale
Wholesale
Wholesaling, jobbing, or distributing is defined as the sale of goods or merchandise to retailers, to industrial, commercial, institutional, or other professional business users, or to other wholesalers and related subordinated services...
r of roofing, siding, windows and gutter supplies, with annual sales over US$3 billion. This rapid growth is a direct result of Ken's vision that to be successful in a business you must put you employees first, if they are happy then they will continue to keep you customers happy. Hendricks remained the sole owner, and was added to the Forbes 400 in 2004. In 2006, with his personal wealth estimated at $2.6 billion, Hendricks was added to the Forbes list of the world's billionaires.
Hendricks also owned the Beloit Plaza
Beloit Plaza
Eclipse Center, formerly known as Beloit Plaza or Beloit Mall, is a mixed-use development and former shopping mall located in Beloit, Wisconsin. It is undergoing a renovation to become a pivotal point in the city center...
mall and the former Beloit Corporation manufacturing complex, much of which has been completely redeveloped; ABC Supply took over most of the disused Fairbanks-Morse
Fairbanks-Morse
Fairbanks Morse and Company was a manufacturing company in the late 19th and early 20th century. Originally a weighing scale manufacturer, it later diversified into pumps, engines, windmills, locomotives and industrial supplies until it was merged in 1958...
complex, as well. In 2008, he was posthumously awarded, with his widow Diane, a special "20 Year Award of Excellence" from the Downtown Beloit Association because they "nurtured a small movement" that re-energized the city business district.
In 2001, Hendricks was cited for exceeding the state's campaign laws mandating a $10,000 limit on political contributions. No legal action was taken.
Hendricks and his wife Diane owned and ran several other companies through the Hendricks Group. He was known for his interest in green building
Green building
Green building refers to a structure and using process that is environmentally responsible and resource-efficient throughout a building's life-cycle: from siting to design, construction, operation, maintenance, renovation, and demolition...
technology, and was set to build an environmentally friendly roof for a complex at the 2008 Summer Olympics
2008 Summer Olympics
The 2008 Summer Olympics, officially known as the Games of the XXIX Olympiad, was a major international multi-sport event that took place in Beijing, China, from August 8 to August 24, 2008. A total of 11,028 athletes from 204 National Olympic Committees competed in 28 sports and 302 events...
in Beijing
Beijing
Beijing , also known as Peking , is the capital of the People's Republic of China and one of the most populous cities in the world, with a population of 19,612,368 as of 2010. The city is the country's political, cultural, and educational center, and home to the headquarters for most of China's...
. Hendricks was involved in efforts to build a new stadium for the Beloit Snappers
Beloit Snappers
The Beloit Snappers are a Class A minor league baseball team, affiliated with the Minnesota Twins, that plays in the Midwest League.Beloit joined the Midwest League as an expansion franchise in 1982. They were a Milwaukee Brewers farm team from its beginning through 2004; they switched to the...
minor-league baseball team, and was the developer of a residential plot in Janesville.
In 2006, Inc.
Inc. (magazine)
Inc. magazine, founded in 1979 and based in New York City, is a monthly publication focused on growing companies. The magazine publishes an annual list of the 500 fastest-growing private companies in the U.S., the "Inc...
named Hendricks its 2006 Entrepreneur of the Year award and he was featured on the magazine's cover. Inc. had ranked ABC Supply its #1 Inc. 500 business in 1986, after which it was too large to list.
Death
Hendricks died December 21, 2007, aged 66. Hendricks fell through a sub floor under construction and into the garage of his home. He left behind his wife, Diane, and seven children.In 2008, the film An American Carol
An American Carol
An American Carol is a 2008 American comedy film directed by David Zucker and starring Kevin Farley. In some other countries the film is known as Big Fat Important Movie...
is dedicated in his memory.