Admiral Chemicals: A Different Kind of Startup Story

When you hear the word “startup,” you probably think of a brand-new company just getting off the ground.

Mike Willis, the owner and President of Admiral Chemicals, challenges this notion.

In 2023, Willis purchased the decades-old company with an eye towards innovation. He believes that new ownership can revitalize an established business and create new revenue streams, giving it the essence of a startup, despite its long history.

Willis, a chemist and a 26-year chemical industry veteran, saw an opportunity when he learned the longtime owner of Admiral Chemicals was interested in retiring. After careful consideration, he calculated that purchasing an existing company would allow him to grow the business more quickly than launching a brand-new company.

“We are in specialty stains and dyes and organic compounds. Smaller quantities of materials that have applications in life science, so it could be for drug discovery, or biological testing. So, we’re building off of that and continuing those offerings, (as well as) adding more products in that portfolio.”

Today, Admiral Chemicals is a three-person organization. Willis believes the agility of his small team will be a key factor in Admiral Chemicals’ future success.

“We’ve had some success with products that we have not historically provided… in those instances, we can say ‘we know where to get it’ or ‘we do have manufacturing capacity here.’ If it’s a good fit for us and we know how to make it, or can do a tech transfer, we can do that kind of activity as well,” he said.

Despite being in growth mode, the company has no plans to move from its current headquarters on the city’s north side.

“Milwaukee’s been great for me. I’ve lived most of my life in this area and worked in the Milwaukee area for most of my career, as well. The city’s been supportive. Logistically it’s good. My biggest customer is 6 blocks away, so that helps. Most of our customers are US based organizations, so it’s easy to get around from one place to the next when I need to travel,” he said.

Unlike many traditional startups, the bootstrapped company is not focused on funding.

“We aren’t looking at any kind of external funding, or grants; it’s not part of our business model. We’re self-sustaining at this point,” he said.

Like every successful startup, Admiral Chemicals is focused on the future.

“I want to grow, but I also want to have a balance associated with it. So, for me, it’s growth that allows us to be successful from a monetary perspective and create jobs. We will leverage the facilities that we’ve got and grow the manufacturing base more than what we have right now,” Willis said.

Time will tell if Admiral Chemicals can create a level of growth on par with an emerging startup in the chemical industry. By eliminating many of the obstacles startups face, the company has a strong chance for success.

To learn more about this emerging legacy company, connect with Admiral Chemicals here.