Founder: Daniel L. Hertz Jr.
Headquarters: Red Bank, N.J.
Number of employees: 118.
Key family members active in the company: Daniel L. Hertz Jr, CEO; Daniel L. Hertz III, president; Taylor K. Boyle, sales, lab supervisor.
What it does: Seals Eastern manufactures precision rubber molding.
Markets served: Hydraulic and pneumatic valve industry, diesel industry, medical industry, oil and gas industry.
Number of generations involved in the business: Three.
What are the strengths of a family owned business? The strengths include a continuity of markets, understanding and adding to the underlying technology that founded the company, appreciation and necessity of continuous modernization of all aspects of manufacturing.
What are the challenges of a family owned business? There are fewer challenges on business issues, most of which can be solved with logical discussions.
Do non-family members hold any executive or ownership roles? If so, how are issues resolved that might arise? No.
How much does the younger generation influence decisions? They offer very valuable input, which is not dismissed by “we tried that before.”
Something others might not know about your company: Ability to absorb and add to our understanding of industry and contribute back to it.
What advice would you offer a young entrepreneur who wants to start a family run business? Be prepared with the understanding that the world is not ready to accept you or your product.