 FRANDSEN MILESTONES
From its humble beginnings as a small lumber
company, Frandsen Corporation has evolved over 50 years into a
diverse, entrepreneurial organization of companies in the financial
services, injection molding, manufacturing, and distribution segments.
There have been many milestones along the way:
1951: Dennis Frandsen
founded Frandsen Log and Lumber Company in Luck, Wisconsin. He soon moved
his business to Rush City.
1961: Frandsen purchased
Star Tool Company. By 1963 he had become the company’s majority owner and
president, and had renamed the company Plastech Research, Inc, and
later Plastech Corporation.
1970: Frandsen founded All
American Snowmobile Parts Company, whose name would eventually be changed
to Dennis Kirk. Frandsen sold the company in 1977.
1976: Plastech created a
separate Tooling Division as a result of the acquisition of Star Mold in
Hugo, Minnesota. Plastech also acquired Hartland Plastics of Hartland,
Wisconsin.
1978: The acquisition of
Research Molding of Mendon, Michigan gave Plastech an opportunity to serve
the auto industry.
1979: Frandsen Corporation
purchased Umco Corporation; another plastic injection molder.
1980: Frandsen became a
partner in Kinger’s Mall Associates and constructed a new retail mall in
Rush City.
1981: Dennis Frandsen
purchased his first bank, Fidelity State Bank of Luck.
1983: Plastech opened a
sales office in El Paso, Texas, and purchased Push Button Container,
a plastic molding company in Albuquerque, New Mexico. Frandsen eventually
sold it in 1997. Frandsen Bancorporation was formed. It eventually
became Frandsen Financial Corporation (FFC).
1985: Plastech acquired
Norwesco of Belle Plaine, Minnesota.
1986: A profile in the
Minnesota Business Journal , “Mr. Rush City,” recognized Dennis
Frandsen’s impact on the city.
1994: Frandsen purchased a minority share in the
National Basketball Association’s Minnesota Timberwolves
franchise. He gave 117 acres of land on West Rush Lake near Braham,
Minnesota, to Chisago County, the largest donation the county had ever
received. Today the land is a county park known as Dennis Frandsen County
Park.
1995: Frandsen purchased
Allied Plastics of Plymouth, Minnesota, and moved the operation to a
110,000-square-foot facility in Coon Rapids.
1996: Frandsen acquired
Miller Manufacturing, a manufacturer of farm, ranch and pet supplies.
1997: Frandsen opened the
Frandsen Technology Center in Arden Hills, which would become headquarters
for Frandsen Financial Corporation.
1998: Traveling on a bus to
the NBA All-Star game with Timberwolves’ majority owner Glen Taylor,
Frandsen negotiated the purchase of Taylor's bank holding company, Taylor
Bancshares. In June, he was featured on the cover of Minnesota Business
and Opportunities magazine.
1999: Frandsen purchased
InterNet Incorporated, a converter of plastic and metal mesh based in New
Hope, Minnesota. He would later rename it Industrial Netting. Allied
acquired Glynco Plastics of Minnetonka. Dennis Frandsen was named
Entrepreneur of the Year by Ernst & Young.
2002: Miller Manufacturing
acquired Hot Shot Incorporated, a manufacturer of cattle prods and
respected brand in the cattle industry, based in Savage, Minnesota.
2003: Dennis Frandsen
received the John F. Cade Award, presented annually to an outstanding
entrepreneur, from the John M. Morrison Center for Entrepreneurship at
University of St. Thomas.
2005: Due to a corporate
growing staff, Frandsen Corporation establishes their headquarters in
Forest Lake.
2007: Frandsen
Corporation purchased Springer MaGrath Company of McCook,
Nebraska
2009: Dennis Frandsen is inducted into the Minnesota
Business Hall of
Fame |