Ken Hendricks

Kenneth A. Hendricks (September 8, 1941 – December 21, 2007) was a businessman who grew a shingle supply company into a $2.6 billion fortune and a spot on the Forbes 400. Primarily associated with Beloit, Wisconsin, Hendricks lived in nearby Afton.

Hendricks, born and raised in Janesville, Wisconsin, was a high school dropout who joined his father in the roofing business, reshingling houses on weekends. He eventually started his own firm, which grew into a 500-man multi-state operation by 1971, a time when most roofers were still local. After selling off that business to have more personal time, he started ABC Supply, which has become the largest U.S. wholesaler of roofing supplies, with annual sales approaching US$3 billion. Hendricks remained the sole owner, and was added to the Forbes 400 in 2004. In 2006, with his personal wealth estimated at $2.6 billion, Hendricks was added to the Forbes list of the world's billionaires.

Hendricks also owned the Beloit Plaza mall and the former Beloit Corporation manufacturing complex, much of which has been completely redeveloped; ABC Supply took over most of the disused Fairbanks-Morse complex, as well. In 2008, he was posthumously awarded, with his widow Diane, a special "20 Year Award of Excellence" from the Downtown Beloit Association because they "nurtured a small movement" that re-energized the city business district. [cite news
url=http://www.beloitdailynews.com/articles/2008/03/27/news/news02.txt
title=Downtown group marks 20th anniversary
author=Hillary Gavan
date=March 27 2008
publisher=Beloit Daily News
accessdate=2008-04-23]

In 2001, Hendricks was cited for exceeding the state's campaign laws mandating a $10,000 limit on political contributions. No legal action was taken. [ [http://www.wisdc.org/jun2001_campaign_violators.php Six contributors violate campaign finance laws ] ]

Hendricks and his wife Diane owned and ran several other companies through the Hendricks Group. He was known for his interest in green building technology, and was set to build an environmentally friendly roof for a complex at the 2008 Summer Olympics in Beijing. Hendricks was involved in efforts to build a new stadium for the Beloit Snappers minor-league baseball team, and was the developer of a residential plot in Janesville.

In 2006, "Inc." named Hendricks its 2006 Entrepreneur of the Year award [ [http://www.bizjournals.com/milwaukee/stories/2006/11/27/daily22.html Inc. names Beloit's Hendricks as Entrepreneur of the Year - The Business Journal of Milwaukee: ] ] and he was featured on the magazine's cover. [http://blogs.usatoday.com/smallbiz/2006/11/new_tips_for_be.html] Inc. had ranked ABC Supply its #1 "Inc. 500" business in 1986, after which it was too large to list.

His son-in-law was Aaron Stecker, the professional football player.

Death

Hendricks died December 21 2007, aged 66. Hendricks fell through a sub floor under construction and into the garage of his home. [cite news
url=http://www.gazettextra.com/weblogs/latest-news/2007/dec/21/ken-hendricks-dies-after-fall/
title=Billionaire Hendricks dies after fall
date=December 21 2007
publisher="The Janesville Gazette"
access date=2007-12-21] He left behind his wife, Diane and seven children.

References

External links

* [http://www.forbes.com/forbes/2004/1129/184_print.html "Up on the Roof"]
* [http://www.forbes.com/lists/2006/10/J389.html "Forbes World's Richest" listing]
* [http://www.greaterbeloitchamber.com/news.asp?id=56 Hendricks debuts on "Forbes 400"]
* [http://www.inc.com/magazine/20061201/entrepreneur-hendricks.html "Create Jobs, Eliminate Waste, Preserve Value", Inc. magazine profile]