2010 CFO OF THE YEAR: Steve Alesia

Back to TopCommentsE-mailPrintBookmark and Share

Honoree, Private Companies (revenue $100 million or less)

Steve Alesia’s title at Independent Concrete Pipe Co. is vice president and CFO, but the management and staff of this privately held Indianapolis firm could just as easily call him “savior.”

As the company’s name implies, ICPC manufactures reinforced concrete sewer pipe for storm and sanitary applications, plus a vast assortment of other big, heavy, concrete-intensive products. With nine facilities in five states, the family-owned enterprise is the fourth largest reinforced concrete pipe maker in the nation.

cfo-alesia-steve02-15col IBJ Photo/ Perry Reichanadter

The company’s top clients are highway contractors and site development contractors. So it isn’t surprising that when the economy cratered in 2008, ICPC’s order book dried up quickly. In January of 2009 the company’s bank asked it to obtain its financing elsewhere. Alesia, who joined ICPC in 2007, faced the unenviable task of finding new financing for an old-school manufacturer during the worst credit market in living memory.

In May, after months of negotiation, the company entered into a conventional financing arrangement with a new bank. The move was pivotal, because the company had faced intense pressure from its former lender to enter into a far less advantageous arrangement. The reduction in costs between the company’s first refinancing offer and the one it eventually accepted amounted to $800,000 in the first year alone.

alesia-factboxNow Alesia can focus on other issues. “Currently, our biggest challenge is managing production efficiently while producing optimal inventory levels.” Managing medical insurance costs during 2011 offers an additional headache.

Logistics is another brain teaser. When it comes to heavy industry, it doesn’t get much heavier than concrete pipes. The company’s product line presents some unique challenges and constraints. “Due to the weight of our product, it cannot ship profitably more than 100 miles from our plants,” Alesia said. “As a result, we cannot share product between our plants if one needs a certain size that another has in excess.”

Formerly CFO at Indianapolis-based machine tool manufacturer Hurco, Alesia took his current, lower-profile position in order to spend more time with his family and less time traveling for business. And the fact that he no longer spends a fair portion of his time preparing SEC filings helps, too. “I spend my free time with my wife and kids,” he said. Alesia regularly plays golf with his son. He also collects baseball cards, and owns every Topps card issued from 1972 to 1992.

Besides helping to save ICPC, Alesia has also labored to make it a more financially sophisticated entity—one that bases its decisions on hard data rather than intuition. During the baddest of the bad days the firm trimmed its payroll for the first time in its 98-year history and cut operating expenses.

“I do not see significant improvements in private construction in 2011, which does not bode well for our company,” Alesia said. “However, the amount of government spending on infrastructure projects should allow us to be profitable.”•


Post a comment to this story

We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
You are legally responsible for what you post and your anonymity is not guaranteed.
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
thisissue1-092914.jpg 092914

Subscribe to IBJ
  1. Here are a few candidates for this new group, "ripped from the headlines." First up, that bizzaro State Senator Brent Waltz; secondly, the unethical Todd Huston, and his contractual arrangements scheme; Finally, but not least of all, the dishonorable Eric Turner. What sayeth you Greg Zoeller?

  2. Good day. I can't hide this great testimony that take place in my life I will love everyone to know it and be partaker that is why I always place it on answer, I am Mrs,Natalie Cuttaia by name, I live in Texas, United State Of America, I want to thank (Mr.Bruce Brandon) for his kindness upon my family life. I never knew that there is still nice lender like this on internet and earth here. Just some Months Back, I was in search for a loan of $100,000,00 as I was running out of money for feeding and rent. I was scammed $6,800 Dollars and I decided not to involve my self in such business again but a Friend of my introduced me to a loan firm due to my appearance and doings. And I told him that I am not interested of any loan deal anymore but he told me that there is still a nice lender who he will recommend me to, and I made a trial and I am most grateful lucky am I today, I was given a loan amount of $100,000.00usd, by this great Company (Bruce Brandon Loan Company) managed by (Mr.Bruce Brandon) If you are in need of a genuine or legit loan or financial assistance and you can be reliable and trusted of capable of paying back at the due time of the funds I will advice you to, contact him via: ( bruce.brandon071@gmail.com ) And you will be free from scams in the internet. All thanks to Mr.Bruce Brandon You are the one who remove me and my family out of poverty. The reason why i am doing this is that, i promise Mr.Bruce Brandon that if i truly got my loan, i will advertize his company and bring customers to his company. Contact him via ( bruce.brandon071@gmail.com )for the Loan you have been looking for..

  3. Hello, We are firm Organization formed to help people in needs of helps,such as financial help. So if you are going through financial difficulty or you are in any financial mess,and you need funds to start up your own business,or you need loan to settle your debt or pay off your bills,start a nice business, or you are finding it hard to obtain capital loan from local banks,contact us today via email mrsroseberrywilkinsfunds.usa@gmail.com So do not let these opportunity pass you by because Jesus is the same yesterday, today and forever more. Please these is for serious minded and God fearing People. Your Name: Loan Amount: Loan Duration: Valid Cell Phone Number: Thanks for your understanding to your contact as we Await Regards Management Email:mrsroseberrywilkinsfunds.usa@gmail.com

  4. The question is, where could they build a new stadium? It seems in the past year, all the prime spots have been spoken for with potential projects. Maybe in the industrial wasteland area a block past Lucas Oil? I think it needs to be close to the core, if a new stadium is built.

  5. Aldi is generally a great shopping experience. Still, I'm sure YOU wouldn't want to shop there, which I consider a positive.