Under the leadership of owner and president Victor J. Maggitti Jr., construction supply firm Vimco Inc. had the largest sales year in its 62-year history in 2022. The firm sells concrete accessories, including insulation, to concrete contractors. It also rents forming material and has $13 million worth of forming equipment on hand, with plans to add another $5 million worth in 2023.
Maggitti Jr. has been selected to the Titan 100 list for the second time. He has also been named to Villanova University’s best 100 graduates.
Maggitti Jr. is especially proud of his associates. Out of the company’s 85 associates, 20 have been with Vimco for over 25 years. The associate with the longest tenure with Vimco is 38 years.
“I started my business with my dad in 1960,” Maggitti Jr. said. “I lost my dad in the early ’80s and have been alone since then, running my company.
“I have the same customers we started with in the ’60s as we have now. I believe that besides the great service and pricing that I offered to my customers, it is also the personal relationship with them that helps keep them. One item that they all love is the invitation with their families to the Phillies games at the Vimco suite.”
Maggitti Jr. is 88 years old, but he sticks to some consistent routines. He works every day, including Saturdays and parts of Sundays, in a shirt, tie and jacket, and he is committed to running seven miles on his treadmill every other day.
“I continue to mentor my employees every day. I don’t call them employees but friends,” Maggitti Jr. said. “It is how I treat my friends that makes them want to come to Vimco every day. I continue to talk with them daily, asking and answering questions. These items are not just Vimco-related, but also personal. I continue to encourage them to work every day and exercise every day. I also invite them to sporting and special events with their families. All that is why 20 friends have been with Vimco (for) over 25 years.”
Maggitti Jr. said one of the key aspects of good leadership is connecting with your associates and keeping them informed about the company’s performance.
“Leaders should always be in contact with their employees, keeping them aware of the position of sales, what is going on in their industry, etc.,” Maggitti Jr. said. “Leaders also should be aware of the competition. What are they doing? Who are they selling to and why? Leaders also should keep in touch with their lawyers and auditors, constantly asking them what is going on. Bottom line — knowledge is the most important factor, but contact with their employees is also most important.”
