Rudolph Research Analytical is Named SBA’s 2018 NJ Small Business Person of the Year

On May 4, 2018

When his father’s semiconductor company was sold to private equity in 1996, Richard Spanier and his father saw an opportunity and successfully spun off a small business unit to serve the analytical instrumentation market segment.  Over the next 22 years, the younger Spanier would go on to grow the company and acquire a 90% interest in Hackettstown-based Rudolph Research Analytical, a privately-held S-Corporation.

Recently, the Morris County manufacturer was named the U.S. Small Business Administration’s 2018 New Jersey Small Business Person of the Year. The award is part of this year’s celebration of National Small Business Week (April 29-May 5) where the SBA honors and recognizes the achievements of small business owners across the country.

According to SBA New Jersey District Director Al Titone, who made the announcement at the company’s headquarters in Washington Township, Spanier was nominated for the award by Fulton Bank and was selected for the award based on criteria that include: Staying Power (a substantial history of an established business); Growth in Number of Employees; Increase in Sales; Financial Strength of the Company; Innovativeness of Product or Service Offered; Contributions to Aid Community Oriented Projects; and being Aided by the Programs and Services of the SBA.

Prior to starting Rudolph Research Analytical, Spanier worked nine years at the company known as Rudolph Technologies.  During his last three years there, he was in charge of a product group that generated $256,000 per year in revenue.  It was that group that would become, what is known today, as Rudolph Research Analytical. “It was my experience at Rudolph Research Technologies that helped me to transition from employee to small business owner,” said Spanier.

“The immediate challenge for me was going from an established company to a start-up situation,” he added.   “I went from the employee who was receiving a steady paycheck to the entrepreneur who was responsible for writing the paychecks.”

However, having the Rudolph name, its reputation and historical roots in engaging in research, design and manufacture, sales and servicing of laboratory instruments worldwide, helped the company to gain customers and grow.

Under the direction and leadership of Spanier, Rudolph Research Analytical has grown to 75 employees with sales in excess of $14 million.  In 2015, Richard turned to the U.S. Small Business Administration for an Export Working Capital Program (EWCP) loan to help with the company’s international sales.  Through Fulton Bank, the company was able to secure a $1million revolving line of credit from the SBA to support their export sales.   Since that time, the company has renewed that revolving line of credit three times.    International sales now account for 70 percent of Rudolph’s Research Analytical’s sales.  The company has offices in Japan and Brazil and plans on opening an office in Germany.  “Without the export component, Rudolph would be a significantly smaller company and with fewer employees,” said Spanier.

Today, Rudolph Research Analytical manufactures automatic, digital, bench-top Refractometers, Density Meters, Polarimeters, Saccharimeters and Automation. These instruments use light and sound as measurement mediums. These products are used globally by more than 8,000 customers in over 80 countries around the world. The products are used in the most demanding pharmaceutical, chemical, university, petroleum, sugar, food and beverage and flavor and fragrance companies. Rudolph has established itself as a premier vendor well-known for its quality, reliability, and for being the only company in its space that is worldwide accredited by the National Voluntary Laboratory Accreditation Program (NVLAP).

“Today is about celebrating small business and shinning that spotlight on small companies like Rudolph Research Analytical that  contribute so much to our local and national economy,” said Titone.  “Richard Spanier is to be commended for his vision and his drive that has created 75 jobs and is exporting products around the world; products that are made right here in New Jersey.”

Titone also lauded Spanier and Rudolph Research Analytical for their connection with the community over the last three years by donating more than $150,000 to charities like Day Spring and Carmen Ministries and the Wounded Warrior Project.

Earlier this week Spanier was honored in Washington, DC by SBA Administrator Linda McMahon along with the other state small business persons of the year. This year McMahon introduced Rebecca Fyffe, the owner and Director of Research of Landmark Pest Management from Schaumburg, Illinois as SBA’s 2018 national Small Business Person of the Year.

To access more business news, visit njbmagazine.com

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