CEO Chris Fredericks elevates focus on Empowered Ventures, President Tad Calahan takes helm at TVF
CARMEL, Ind. March 23, 2023 – TVF Inc., a 100% employee-owned, leading global textile supplier, has announced the early completion of a strategic leadership transition. TVF President Tad Calahan will take on full leadership responsibility of the nearly 50-year-old company. TVF Chief Executive Officer Chris Fredericks will turn his full attention to serving as CEO of Empowered Ventures (EV), TVF’s 100% employee-owned holding company.
“I’m truly honored and grateful for the opportunity to lead an incredible group of people at TVF,” says Calahan, “and I’m thankful for Chris’ leadership, which has built a strong foundation and culture at TVF. I’m excited to build upon that foundation and continue to serve our mission of helping our customers succeed. It’s been our purpose from the beginning: relentlessly delivering value and expertise to our customers.”
The change in top leadership at TVF will officially take effect April 1, 2023. The transition, originally anticipated to take up to three years, has come to fruition ahead of schedule.
“Tad and I have worked closely together for the better part of fifteen years,” Fredericks added, “a partnership that, for me, has been thoroughly enjoyable. Tad has played an integral role in the progress TVF has made during that time, and he has impressed me both as a person and as a leader. Tad fully embodies TVF’s five core values, leads by example, and most of all, cares deeply about TVF and its people.”
Calahan joined TVF in 2007 and has served in roles including director of accounting & finance and chief financial officer. He was named president and COO in 2021. During his tenure with TVF, Calahan has led several comprehensive improvements that have bolstered the experience for customers, including a major enterprise resource planning (ERP) conversion, the full modernization of warehousing and fulfillment operations, and building a management team designed to lead TVF into the future.
“TVF’s exceptionally-talented team of employee-owners at all levels has us well-positioned to even more effectively pursue our vision of reaching our full potential and helping our customers reach theirs,” Calahan continues. “We embrace the challenges of the future and will continue to honor the foundation built over the last five decades that has made us a true extension of our customers’ business. I’m excited to help us take things to the next level by expanding product offerings, enhancing our exemplary level of service, and most of all, elevating the customer experience.”
Fredericks, a former CPA who joined TVF in 2005, has served as TVF’s CEO for the last two years and previously served as president for 11 years. Under Fredericks’ leadership, TVF transitioned to an ESOP in 2010, developed a highly engaged, employee ownership culture, acquired Pacific Coast Fabrics in 2017, and established Empowered Ventures in 2020.
“I feel ecstatic with the progress the entire TVF team has made under Tad’s leadership and am more confident than ever in TVF’s future,” Fredericks says. “In only two years, Empowered Ventures has also progressed from an idea to a true holding company with three businesses and a small but talented team focused on adding meaningful value to the ESOP. Collectively, we have ambitious plans, and the 1-2 punch of TVF and EV has the potential to accomplish special outcomes for all our employee-owners.”
High-resolution images of Calahan and Fredericks and logos of TVF and Empowered Ventures are available for download for media use and publication.
Established in 1974 as Top Value Fabrics, TVF has a longstanding history of textile success. TVF is a leading international supplier for a wide variety of fabric applications and industries, offering extensive stock programs consisting of Nylon, Vinyl, Polyester, and Natural Fiber products, in addition to custom styles. Since 2010 TVF has been 100% employee-owned, fostering a culture that supports the TVF vision of empowering our customers and employee owners to achieve their full potential.
About Empowered Ventures
Founded in 2020 by leading fabric supplier TVF, which transitioned to an Employee Stock Ownership Plan (ESOP) in 2010, Empowered Ventures is an employee-owned holding company based in Carmel, Ind. Empowered Ventures helps successful small businesses with ownership succession planning by providing a long-term home for companies and employees. Empowered Ventures is not a fund, has no outside investors and uses its own capital to fund acquisitions. All employees of companies owned by Empowered Ventures join its employee ownership program.