Client Story: Good People with Good Equipment is just Good Business

Dan Drumheller always has a plan for his precision manufacturing business. As the owner of Valley Precision, Inc., he’s constantly thinking years ahead about how he can improve his business. And he knows that when the opportunity comes to make a deal, you have to move – fast. 

In fact, twice since 2019, Dan has come upon opportunities that require him to move quickly. First, his business partner offered to sell Dan his share of the business. When the offer was made, one of Dan’s first calls was to Greg Godsey, his commercial banker at Atlantic Union Bank. And what did Dan find out? “Greg was on board.” Dan explained his plan for the business – to modernize by replacing existing machines and adding new ones.  New equipment would require capital, and Atlantic Union was the right place to get it when Valley Precision needed it. The new equipment opened doors to manufacturing demand that set the stage for the next opportunity for Valley Precision, Inc. 

In the middle of 2020, many businesses were struggling because of the pandemic. Even Valley Precision felt a negative impact because many of their biggest clients paused or stopped orders because of the uncertainty at the time. However, with their newer equipment, they were able to serve a variety of other customers that kept them going. So, with his business being diversified enough to weather the COVID-19 storm, it was time to look for the next opportunity. And he found one – with some equipment available at extreme discounts if he could find the capital for the transactions quickly. So, once again, he called Greg, explained his plan and was met with enthusiasm. Greg helped him get the deal done, quickly, with favorable interest rates. The investments paid off. Dan and his team were able to see growth of roughly 25% in revenue per year and continue investing in new machines. 

The newly purchased machinery helped relieve some of his employees from repetitive tasks to be more efficient elsewhere in the shop. And that’s Dan’s big focus – getting good employees and providing good machines to help them do good work. 

Machinery and new equipment are extremely important, but the people at Valley Precision are the most important part of the business. At Atlantic Union Bank, the people are also the most important part of the business. Dan knows that working with AUB is one way to make sure he’s working with good people inside and outside of his shop. He knows that Greg Godsey, Tamara Berkshire, Tammi Privott and others will work with him to help him achieve his goals for the business. Dan described one instance when he called the Customer Care Center for a minor issue with an ACH payment – the issue was resolved while he was on the line, but he still got a call twenty minutes later from Greg making sure it was handled. That personal service makes Dan feel confident in the banking relationship. And it’s not just loans – Valley Precision uses AUB for a variety of products, including ACH payments, Positive Pay fraud protection, business checking and business savings.