AAON’s success was noted by BusinessWeek on June 11, 2001.
AAON’s success was noted by BusinessWeek on June 11, 2001.

Norm's 27 years in the HVAC industry had provided him a clear vision for John Zink, but the sale of the division put that in jeopardy. New owners could fire Norm or reject his plan for reorganizing the manufacturing process. Having come this far, Norm decided he couldn't leave his future to chance.

Norm met with Zink's owners and asked them if they'd consider selling the HVAC division to him. Zink said they'd sell the division to him if he could come up with the money.

Norm's divorce in 1988 had left him with little capital to invest, but he leveraged what remained, along with $2 million from investors, to persuade the banks to lend an additional $8 million. With $10 million in hand, Norm used $7 million to lead the buyout of Zink's HVAC division on September 30, 1988.

The new company, called AAON, went public with Norm as president and CEO. He used the remainder of his capital to operate AAON, working to implement his plan and pay back his investors.

 

 
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