Growing a Billion-Dollar Business Without Losing Its Soul: Lessons from Skip Giessing of DXP Enterprises
What does it take to grow a company from $150 million to over a billion dollars without losing the culture, values, and loyalty that built it? On this episode of Industry Ignited, we sit down with Skip Giessing, President of the Rotating Equipment Division at DXP Enterprises, to uncover the strategies, philosophies, and experiences that fueled his remarkable career journey.
From his early days in the Navy to building his own company and now leading one of DXP’s largest divisions, Skip’s story is one of loyalty, entrepreneurial spirit, and long-term thinking.
From Naval Academy to Industrial Leadership
Skip Giessing’s path into the industrial sector began unexpectedly. After graduating from the Naval Academy, he served on submarines, dealing with pumps, compressors, and other industrial products. This hands-on experience sparked a lifelong interest in industrial equipment.
“When I got out, I started interviewing with companies manufacturing these products and eventually settled on Ingersoll Rand… but I quickly realized the company’s culture didn’t align with my values,” Skip shared.
Instead, Skip joined a distributor in St. Louis, eventually rising to VP of Sales and acquiring the company in 1988. His 24 years of leadership there laid the foundation for the philosophies he would bring to DXP.
Culture, Loyalty, and Leadership Philosophy
Skip’s leadership style emphasizes culture and loyalty above all. At DXP, he learned the importance of understanding the company’s culture before making any major decisions.
“David [DXP CEO] told me to wait four months before making any big decisions, just to understand the culture. That time was invaluable,” he recalls.
Entrepreneurial thinking is encouraged at every level. DXP’s regional leaders are given autonomy to adapt to local market needs while maintaining alignment with company values. Continuous training in leadership and sales ensures that teams grow not only in revenue but also in capability.
“We promote from within whenever possible. Developing our own people has been key to our long-term success,” Skip said.
Organic and Inorganic Growth: The Twin Engines of Expansion
DXP’s rotating equipment division grew from $150 million to over $1 billion through a combination of organic and inorganic growth.
Organic growth comes from improving sales processes, expanding product offerings, and leveraging customer relationships.
Inorganic growth involves strategic acquisitions of complementary businesses with compatible cultures. Skip emphasizes the importance of preserving the acquired companies’ autonomy while gradually integrating DXP’s systems and processes.
“Whenever we acquire a company, our goal is simple: we’re not going to screw you up. Over time, you incorporate our policies and procedures at your own pace,” Skip explained.
Resilience Through Challenges
Skip’s career has been shaped by overcoming challenges, from economic downturns to natural disasters. He recalls a 1993 flood that devastated his St. Louis business:
“We had 10 feet of water in our facility, $2.5 million in unexpected debt… but we recovered, rebuilt, and continued our growth. That experience taught me resilience and creativity under pressure.”
Expanding Into Municipal Markets
Diversification has been a key strategy for DXP. During the oil and gas recession of 2015–2017, Skip and his team sought more stable, recession-resistant markets like municipal water and wastewater services. Through acquisitions and leveraging service and repair capabilities, the company successfully entered new verticals while maintaining profitability.
“Many municipal companies were rep organizations, not distributors. We brought them into the fold, integrating repair work into our local shops, adding revenue and growth to our rotating equipment division,” he shared.
Leading With Integrity and Investing in People
For Skip, success is not just about numbers—it’s about people. He looks for integrity, experience, and polished communication when hiring leaders. Loyalty and long-term commitment are cultivated through recognition and appreciation.
“At DXP, employees who’ve been with the company for 10 years receive a gold ring with a diamond. Every five years, another diamond is added. It’s not just a reward; it’s a statement of appreciation,” Skip explained.
Lessons for Future Leaders
Skip’s advice for younger professionals is simple: build depth in your career, focus on relationships, and stay committed to your company. Constantly moving from job to job may seem advantageous in the short term but can hurt long-term growth.
“People are extremely important to any organization. Invest in them, develop them, and they’ll invest back in you,” he said.
The Road Ahead
Under Skip’s leadership, DXP’s rotating equipment division continues to innovate, expand product lines, and embrace new technology. With a strong foundation in culture, entrepreneurial thinking, and customer service, the division is poised for continued growth across North America and beyond.
“Being part of DXP is the greatest thing. Growing this division to $1.2 billion and beyond is something I’m incredibly proud of,” Skip said.
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