Virginia Business - March 2006
by Lisa Antonelli Bacon and Donna C. Gregory for Virginia Business
Editor’s Note: In looking back over the past 20 years, Virginia Business tried to select 20 individuals (or business partners) who have had a transforming effect on their industry or their regional economy. We looked for visionaries who built their companies into industry leaders or whose creativity led to innovative startups. The field was limited to Virginians involved in business, not politics or education.
Virginians who transformed their industries in the past 20 years
Martin Lightsey, Staunton
Chairman
Specialty Blades Inc.
During his 16 years as an engineer and director for American Safety Razor in Staunton, Martin Lightsey saw the increasing need industries and manufacturers had for custom- designed, razor-sharp blades, something ASR’s technology couldn’t produce. When the CEO of ASR told him the company wasn’t poised to start a new business venture, Lightsey decided to try it on his own.
In 1985, Lightsey, then 43, rented a former dairy barn in downtown Staunton and created Specialty Blades Inc., which used computer technology to create blanks that would be used to make custom-designed blades. It took Lightsey 18 months to sell his first custom-made blade and five years to earn a profit.
Since then, the company has rapidly expanded to an 80-employee business that brings in about $15 million in revenue a year. It plans to build a 28,000-square-foot addition next to its Staunton facility to house a growing surgical division, IncisionTech, which should create 25 jobs. The company also opened a sales office in China three years ago.
Lightsey stepped down as CEO of the company three years ago but remains chairman. He was named Ernst & Young Entrepreneur of the Year in 2004 for Virginia in the Business Products category.
For additional information on this recognition see www.virginiabusiness.com
About IncisionTech
IncisionTech manufactures cutting, piercing, and delivery systems for surgical devices. Our IncisionLab - Center Of Excellence is where applied science improves cutting and piercing device performance. Products include surgical blades, trocars, custom scalpels, endoscopic scissors, tissue cutters, biopsy punches, sharpened tubes, specialty access needles, probes, tips, cannula, stylets, shaver blades and bone saws.
IncisionTech
Locations in Virginia, Rhode Island, and New York
Phone: 800-213-7809
sales@incisiontech.com
