Matt Schrimpf began working for his family business at 11 years old, sweeping floors, pulling orders for customers and ultimately driving a truck through high school and college. “These real-world experiences provided an in-depth understanding of the business from the bottom up,” said Schrimpf.
What started as one single gas station in Alton, IL, owned by Schrimpf’s grandfather, Piasa Enterprises, Inc. quickly evolved into a liquid asphalt application business, a pipeline terminal and ultimately biodiesel.
Piasa Enterprises, Inc. focuses on the wholesale and distribution of petroleum and renewable fuels with a mission to provide its customers with a competitive, dependable and quality supply of gasoline and diesel fuel. The firm owns four pipeline terminals through the Midwest and offers products for sale in 10 third-party terminals with a fleet of trucks to service the St. Louis market.
“My grandfather was very thoughtful when entering these new arenas, but he took substantial risks,” said Schrimpf. “He quickly doubled the size of our pipeline terminal in Hartford, IL, and became the first automated blender of gasoline and ethanol in the country; I’d like to think many of these traits were passed along to my father and me.”
Schrimpf joined the company in 1995 and under his leadership, the company expanded to sell biodiesel and by 2004, acquired three pipeline terminals that vastly expanded the business again. By 2005, automated biodiesel blending was added and by 2016, the firm continued as a leading role with renewable fuels by being the first terminal wholesaler in the country to offer automated E15 for sale.
“My family has consistently looked for ways to add value to our customers and businesses since its founding in 1932,” said Schrimpf.
Challenged by his father, Schrimpf was tasked with making the transportation division work or get out of the business. Within three years, he tripled the business revenue without adding any staff. “Certainly, my father was aware of the inefficiencies, but he fully placed this responsibility on my shoulders as a first task out of school,” he said. “I ultimately lead our company into the world of biodiesel.”
As a leader, Schrimpf said it’s essential to navigate a rapidly changing environment. “The stroke of a pen can make or break an entire industry, and the timing of a leader’s decision can be more important than the idea or strategy itself,” he said.
He credits his family’s influence as his inspiration and motivation to be a successful leader. “My parents always taught me the value of hard work and doing things honestly, so the transition into the business world was fairly seamless,” said Schrimpf.
As a result, his successful leadership has earned Schrimpf the title of a titan.
