What do wrestling, hauling hay and car sales have to do with entrepreneurship? For me, it’s the foundation to adapt, outwork the competition, problem-solve and make strategic decisions that allowed Linen King, the business I founded, to enjoy unprecedented long-range growth and expansion. At the helm of Linen King, I placed priorities on sales, customer service, process improvement, facility optimization, talent development and being decisive with expansion opportunities. VALUE CREATION AND RESULTS»»» For 20 years, my team and I delivered a 20%+ CAGR via organic growth and acquisitions. »»» I have successfully navigated the private equity sale process 3 times and even repurchased my company once. I delivered a 2.5X ROIC and 27% IRR during the expected holding period. »»» We expanded from 1 to 7 facilities, grew from 17 employees to more than 700 and increased revenue from $700K to $65MM+. »»» We have retained 92% of customers due to our nurturing of relationships and our consultative approach that has saved clients more than $20M via waste reduction and utilization efficiency improvements. »»» I have launched other ventures with successful sales and integrations, including a Thrifty Car Sales Franchise and Service King, an affiliate offering complementary services to Linen King. My sales and management background in the automotive industry, the likes of which the healthcare laundry industry had never seen, helped Linen King quickly outpace regional competitors. LEADERSHIP APPROACHAs the recipient of mentorship and a thorough training program from the innovative Jim Koons, the legend behind one of the country’s leading mega-dealer groups, I value giving all of my employees advanced training and equal opportunities. It’s simple, but the non-bureaucratic culture and clear decision-making at Linen King helped attract and retain talent. Holding leadership positions in the YPO Tulsa Chapter also allowed me to mentor local businesses, some of which have also secured PE funding.
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Founder, Executive In Residence & Former CeoLinen King Apr 1999 - Jan 2023Tulsa, Oklahoma, United StatesSeeing an opportunity to combine my sales expertise with my father’s operational experience, we founded a healthcare laundry business together with another partner. Drawing from the range of business strategy skills forged in the retail automotive industry, I set the vision and corporate mission and established HR, customer service, sales, finance and administrative functions. ● Secured private equity funding 3 times. Ran a full sales and investment banker selection process, communicated with the Board of Directors as a portfolio company CEO, and delivered investors 2.5X ROIC. ● Earned 20%+ CAGR for 20 straight years.● Expanded organically and through acquisitions, growing from 1 facility to 7. Bought 4 from healthcare systems and competitors, built 2 from the ground up and retrofitted another. ● Maintained 92% customer retention for more than 20 years. ● Improved productivity in acquired facilities by up to 120% while increasing volume by ~4X. ● Designed and built plants for up to 70% less per square foot than industry standard. ● Created a culture of clear communication, no bureaucracy and advancement potential. ● Improved employee retention by 25% after revitalizing onboarding experience. ● Redefined incentives and communicated KPIs to improve performance by 105%. ● Acted with urgency during Covid Pandemic to respond to customer crises due to competitor shut-downs, accepting 10M pounds of annual laundry overnight.● Differentiated Linen King by saving customers more than $20M via consulting on linen waste reduction and utilization efficiency improvement. ● Represented company in media interviews and to trade associations. Starting in August 2021, I stepped back as CEO and remain Executive in Residence, Board Member and shareholder. »»» 2002 Chamber of Commerce Industry of the Year »»» Tulsa Top 40 Under 40
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CeoLinen King Apr 1999 - Aug 2021
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President And CeoThrifty Car Sales Of Bixby Jan 2007 - Apr 2012Bixby, Oklahoma, United StatesIn partnership with an investment group, I created the capital and business plan to open 5 franchise locations involving a certified pre-owned car sales operation. I set the strategic vision for this retail automotive venture and managed a dynamic team as the Dealer Principal. ● Introduced innovative technology and methods to give customers immediate access to inventory at other locations.● Enhanced our online presence with then-uncommon high-resolution photos and thoughtful, unique descriptions of vehicles. ● Sold and exited the company after successfully navigating a challenging time for the industry.
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Director Of SalesClassic Chevrolet Jul 1997 - Jul 1999Owasso, Oklahoma, United StatesI joined this leading Tulsa-metro dealer during a time of transition and professionalized the new vehicle sales department with effective merchandising strategies and inventory management. ● Achieved outstanding customer satisfaction scores. ● Updated recruiting and training processes to optimize performance and reach monthly and annual goals.● Updated processes for customer tracking, follow-up and prospect turnover.
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Dealer Candidate / Sales ManagerKoons Automotive Companies Jul 1994 - Jul 1997Vienna, VirginiaThrough mentorship by the innovative Jim Koons at one of the largest privately-held automotive dealer groups, I discovered natural talents for sales and business management. I participated in the dealer succession program to gain experience in every department and managed the Chrysler sales department for the nation’s largest Chevrolet/Chrysler store. ● Maintained #1 ranking in Mid-Atlantic zone consistently.● Implemented the nation’s first dealership computer kiosk system with full inventory integration and management. ● Performed financial statement analysis for dealerships selling 5K+ units annually and net profit exceeding $5M. ● Managed inventory ordering and verification for hundreds of vehicles and $10M+ in floorplan financing.● Guided wholesale and retail variable sales departments of 50+ employees.● Collaborated with F&I departments to increase PVR profitability by 25%, increase value-added service offerings, and increase closing by 15%. -
Intern / Legislative AssistantU.S. House Of Representatives Jun 1993 - Aug 1993Washington, District Of Columbia, United StatesWorked as an intern / legislative assistant for the Subcommittee on Crime in the U.S. House of Representatives. Produced research products and marketing materials for Committee Staff and the Chairman. Performed various clerical, office and computer functions integral to the successful operation of the Subcommittee. Participated in hearings and production of policy positions and statements.
Leonard Mccullough Education Details
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Public Policy Studies And Psychology -
Nada Dealer Candidate AcademyAutomotive Franchise Management
Frequently Asked Questions about Leonard Mccullough
What is Leonard Mccullough's role at the current company?
Leonard Mccullough's current role is Founder, Board Member and Former CEO of Linen King »»» 3 PE Deals | Launched 3 Businesses | Financial Performance & Revenue Growth | M&A and Organic Expansion | Dynamic Sales Achievement | Grit, Curiosity and Candor.
What schools did Leonard Mccullough attend?
Leonard Mccullough attended Duke University, Nada Dealer Candidate Academy.
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