Fred A. Lennon
From Wikipedia, the free encyclopedia
of Swagelok Company
Fred A. Lennon | |
|---|---|
| Born | November 26, 1905 |
| Died | July 23, 1998 (aged 92) |
| Title | Founder and Chairman of Swagelok Company |
| Spouse | Alice Lennon (d. 1995) |
| Children | 2 |
Fred A. Lennon (November 26, 1905 – July 23, 1998) was an American industrial fittings manufacturer and philanthropist. He was the founder and chairman of Swagelok Company.
Known for avoiding attention, Forbes magazine once described him as "the shiest billionaire".[1]
Fred Lennon was born in Providence, Rhode Island, to Patrick and Catherine Lennon, as the youngest of their nine children.[2] By the age of 42, he was living with his wife in an apartment in Cleveland, Ohio, when he borrowed US $500 from his wife's uncle to buy The Crawford Fitting Company, later renamed the Swagelok Company. Running the small business from his kitchen, he bought out his partner, Cullen B. Crawford and U.S. patent 3,075,793 for the Swagelok Tube Fitting, a revolutionary two-ferrule compression-type fitting for fluid handling systems.
Business leadership
Moving the company to Solon, Ohio, it steadily expanded into a large, international manufacturing corporation. Under Lennon's leadership, Swagelok gradually became a Fortune 500 Privately Held Company, producing thousands of products, and holding over US$1 billion in assets and employing a staff of 3,000.[3] In leading the company for over 50 years, Lennon never missed a day of work.
As part of Swagelok's 50th Anniversary in 1997, Lennon rented out the Rock n Roll Hall of Fame and Science Center for all Swagelok employees and their families.