Protel Systems deal closes after three-year transition

In June 2005, Thompson entered into a three-year buyout agreement with managers Bruce Jones, Randy Harris and Shane Taylor. The transition culminated July 1, with Thompson conveying his stock to the new owners and officially retiring from the 26-year-old telecommunications company. Terms of the deal were not disclosed.

Jones is now president; Harris is vice president in charge of installation; and Taylor is vice president in charge of call-center operations. Jones was Protel’s first employee, and Harris was the second. Taylor has been with the company for about 10 years.

Protel – a licensed dealer of Toshiba phone systems with headquarters at 2929 N. Eastgate Ave. near the junction of Interstate 44 and U.S. Highway 65 – sells voice, data and security equipment and services. The company also represents AT&T, Qwest and Nuvox as major sales agents throughout most of the country, according to a news release.

Springfield Business Journal recognized Protel with an Economic Impact Award in 2000, and the company ranked No. 10 among SBJ’s Dynamic Dozen honorees this year, with 2007 revenues of $4.8 million.

Thompson started the company in a spare room in the basement of his home in 1982 after a 12-year career at AT&T. The company has since grown to 60 employees and represents some of the largest telecom service providers and manufacturers.

Running the business alone for the first couple of years was a “roller-coaster ride,” Thompson recalled, noting that his pension fund wasn’t much of a safety net. Thompson eventually partnered with Jim Hedges, owner of Hedges Communications, but again ventured out on his own after the partnership ended in 1989.

Following the split, Thompson refocused his attention on Protel and grew the business mainly through call-center work. The company later expanded its customer offerings with a range of voicemail and security services, such as alarm systems. More recently, Thompson said, the installation of computer network cabling has become a solid source of revenue.

The three-year transition plan effectively allowed a gradual changing of the guard at Protel. The sale was announced to employees in the second year, during which Thompson reduced his office presence to four days a week. For the past year, he worked just three days a week.

Thompson said Protel employees appear to be happy with the handling of the sale as well as the new owners.

“So many times, I’ve seen mergers and acquisitions that don’t go well and, in a few years, the company’s gone or sold off or distributed,” he said. “Usually, the real losers in that are the employees. I wanted to feel like this was going to go on and that the employees would continue to be taken care of.”

With the changeover, some employees have been promoted and are easing into their new roles, Jones said, noting that he has mixed emotions about taking over and the inherent challenges.

“If you don’t have a few butterflies in your stomach, you’re not human,” he added.

Jones, Harris and Taylor are assessing marketplace needs, but Jones said they already know that Voice-over-Internet Protocol holds a great deal of promise for Protel. Reinvigorated marketing efforts also may be in the mix, he said.

“We’re looking at how we get our name out and let them know what Protel does,” Jones said.

Thompson said he and wife Bonnie plan to retire to their lake house in Kimberling City, spend time with their grandchildren and travel. He’s also looking to building a kit car and spending more time in his wood shop.

“All of that – I’m sure – is going to keep me busy,” Thompson said.[[In-content Ad]]