Founder: Frederick E. Stockwell.
Key family members active in the company: William B. Stockwell, president.
What it does: Stockwell handles custom gaskets, seals and specialty components fabricated and molded from high performance elastomers.
Markets served: Technology sector, including analytical instrumentation, electrical and electronic devices, rugged equipment, aerospace and defense, medical diagnostic devices.
Number of generations involved in the business: Four.
What are the strengths of a family owned business? Privately held family businesses may choose to manage the balance sheet in a manner that allows for more inventory. Decision making is quick. The culture promotes sustainability and perpetuity; we can connect to our past—being mindful that we need to continue reinventing ourselves to compete and win.
What are the challenges of a family owned business? Succession planning is a big issue—something we are working on as an aspect of long-term sustainability as an independent company.