Doran Manufacturing and trusting the process
New owners needed a new bank, and found that First Financial was capable of more than just acquisition financing
After nearly 70 years as a family-owned company built on a legacy of people and trust, the third-generation owners of Doran Manufacturing decided to sell the company in 2021. When a buyer for the highly respected manufacturer of tire pressure monitoring systems (TPMS) emerged, First Financial Bank helped to fund the acquisition. The process went so well that the new leadership team has turned to First Financial for many other banking solutions, all with positive results.
The Problem
Doran Manufacturing began as a family-owned company — in fact, its name was created by combining the names of the cofounders’ wives, Dorothy and Ann. During the company’s first twenty years, Doran designed and manufactured low-voltage electrical interconnection devices for small appliances. As technology advanced and customer needs evolved, the company expanded into products including fuse panels for trucks, farm equipment, and motorcoaches, along with Sleeping Child Check® systems and exterior light monitors for school bus manufacturers. In 2001, the company was an early entrant in the tire monitoring systems market. Since then, Doran has become an established TPMS provider to a global customer base and has built a strong position in the commercial vehicle technology market over the past 25 years.
To preserve the company’s legacy and enhance its position for future growth, three members of Doran’s executive leadership team acquired the business through an internal management buyout. Although the partnership team of Lee Demis, Dave Robinson, and Jim Samocki had no previous experience purchasing a company, the partners engaged with several respected banks interested in financing the acquisition. During the nine-month process, they developed an elevated level of mutual trust with the representatives from First Financial Bank. The team ultimately selected First Financial, which helped develop the framework for the purchase proposal and provided financing for the transaction. The transition went smoothly, but the strength of the relationship was soon tested. Would the new owners find First Financial helpful beyond the acquisition?
Banking with First Financial
The new ownership team took over in fall of 2022 and moved Doran from Camp Washington to new headquarters located in Blue Ash during the spring of 2023. The business was growing and achieved record performance in a number of performance metrics. Then, in 2024, the new leadership team uncovered an unexpected and significant tariff obligation that it had to address. The situation created a strain on available capital at a critical moment in the company’s transition.
Jim Samocki, President of Doran, recalls that one of the primary reasons for selecting First Financial Bank was its emphasis on relationships and trust.
“Fortunately, we had options when selecting a bank to finance the acquisition,” Jim recalled. “We chose First Financial because their team took the time to get to know us, understand our business, and presented a compelling financing proposal with an emphasis on a long-term relationship. In addition, they helped us develop the framework for the transaction structure, reviewed the data, studied our history, and realized the future potential while learning who we are and what we stand for as leaders and as a company. The ongoing honesty and transparent dialog about the opportunities, challenges, and realities of operating a business helped establish mutual trust and made First Financial Bank feel like a true partner.”
The relationship proved especially valuable when the unexpected liability arose. The depth of knowledge of Doran’s performance, client base, supply chain, and core values laid a foundation for trust and support flexibility. Because First Financial understood Doran’s history and long-term potential, the bank offered temporary financial accommodation that allowed the company to address the tariff obligation and return its focus to growth.
“We truly value the collaborative relationship and high level of transparency between our companies,” said Jim. “People and trust remain central to Doran’s mission and purpose, and seeing those values reflected in our banking partner is meaningful.”
The temporary flexibility gave Doran the support it needed. Since then, the company has delivered profitable results, expanded its team, and continued pursuing the growth strategy envisioned by its new owners. Doran’s relationship with First Financial has also expanded to include deposit accounts, corporate credit cards, and sweep services.
As Doran completes the fourth year of new ownership this fall, its owners are focused on continued growth and exploring ways that First Financial can support the company’s long-term success.
Jim explains, “Our relationship with First Financial Bank has truly helped us to create strong performance results over the past few years and positioned Doran for an even bigger and brighter future.”
