Entrepreneur Of The Year 2009
Road to Palm Springs
William A. Coskey, P.E.
Times were tough in the energy sector in 1985 when engineer William Coskey started a company to manufacture specialized microcomputer products for the industrial market. Coskey had just one client, and when that client’s resources dried up, he maintained the office lease in hopes of eventually resuming operations.
The breakthrough came when the key client eventually called for help with another project. Today, ENGlobal is a thriving international company offering engineering and related project services to energy sector infrastructure facilities throughout the US and Canada. With 2,500 employees and annual sales in excess of $450 million, ENGlobal handles small to mid-sized “run and maintain” projects for Fortune 100 integrated oil/gas companies and large engineering/construction companies. It designs and builds pipelines, designs oil refineries and provides solutions on renewable fuels projects.
To grow the company, Coskey took ENGlobal public in 1994 via a self-underwritten offering. The intent was not only to raise capital but to use stock to pursue acquisitions. The company transferred to the American Stock Exchange in 1998 and has been listed on the Nasdaq since 2007. Since 2002, it has completed 12 tuck-in acquisitions.
Coskey’s business model consisting primarily of in-plant staffing alliance relationships has helped to level out the fluctuations of the cyclical energy industry.