Ghanaian entrepreneur buys Texas Instruments operations

DALLAS - Patrick Fares believes in broadening his base. The Dallas business owner recently took another step in that direction when he purchased a quartz shop operation from technology giant Texas Instruments, and took over on May 1.

The company is called Precision Quartz, and it fabricates and repairs quartz products for the semiconductor industry. Quartz is used in the production of silicon wafers, which are used as a base for integrated circuits. That circuitry becomes the computer chip found in everything from cars to cameras to cell phones.

"Precision Quartz grants me access into an industry that is grossly deficient in minority company representation," he said.

Fares (pronounced Far-ez) is president of three other companies. Rytech Business Services, the largest, is a facilities maintenance firm that provides interior finish and construction, cleaning services and lawn maintenance. It was started 12 years ago with seven employees, and now has approximately 300.

Another company, Rytech Construction Services, provides general contracting services and has 80 employees. Fares also owns Precision Purification, which cleans tooling parts for the semiconductor industry and has 18 employees.

As part of the Precision Quartz deal, Fares acquired the shop's equipment, retained its nine employees, and is free to do business with other companies in addition to TI. The shop is located on TI property, and Fares will lease the space until he can move into a new facility. The financial terms of the deal are not being disclosed.

TI, which is headquartered in Dallas, is a world leader in digital signal processing and analog technologies, the two most critical semiconductor products in the Internet age. TI's creative innovations include the first commercial silicon transistors, the first integrated circuit and the first electronic hand-held calculator.

The company has more than 38,000 employees worldwide, and is ranked 163rd on the Fortune 500.

Fares, who established a business relationship with the company as a supplier, saw another opportunity when TI decided to sell the quartz shop.

"It's not often that you have a small company that is able to buy a piece of a large company," he said. "TI was extremely helpful in getting me to that point, in terms of their cooperation and understanding. They didn't have to sell it, and they certainly didn't have to sell it to me. There are bigger companies out there who could have bought it and paid a lot more money."

Fares first branched out into new technology eight years ago, when he formed Precision Purification.

"I wanted to get into something more closely aligned with the high-tech industry, because I see that as the wave of the future," he said. "We cleaned tooling parts for TI and other semi-conductor companies in the area and were very successful at that."

Fares' success with Precision Purification paved the way for Precision Quartz.

"Since I started doing business with TI," he said, "I have consistently met and exceeded their expectations to the level where I think I have a fairly good reputation over there."

Sam Matalone, director of fab material procurement at Texas Instruments, agrees.

"Patrick has done a good job for TI," Matalone said. "He understands the need for service within a big company. We have asked Patrick to do many things over the past couple of years, and if he can do it, he will do it.

"The unique thing about Patrick is that he doesn't always say yes. If it's out of his league and he doesn't think he can do a good job, he says no."

Matalone describes Fares' quartz shop deal with TI as "evolutionary."

"Patrick has been able to respond to our needs and provide products and services at a competitive price," Matalone said. "He ensures the quality of whatever he's doing and he keeps looking for ways to improve his business. When we find a company doing that, we're going to help them grow and provide them with opportunities."

Fares has found numerous opportunities since coming to America. He is originally from Ghana, West Africa, and has lived in the United States nearly 25 years. He earned bachelor's and master's degrees in business administration from the University of Wisconsin in Eau Claire, and a second master's degree from the University of Dallas in Irving. He is divorced and the father of two.

Over the years, Fares has learned some valuable lessons about what it takes to succeed in business.

"I think identifying what your customers want and making sure they get it is one major portion of it," he said. "The other portion is running your business well, whether it's the way you manage cash flow or the way you treat your employees."

Fares treats his employees with respect.

"If you walked into a room and I was in there with 10 of my employees, you would be hard-pressed to figure out who the boss was," he said. "I'm not authoritarian at all. I'm very democratic. I like to seek people's opinions because often, they know more about certain aspects of the business than you do. If you do not give them a chance to air their ideas because of fear or intimidation, in the long run, you're the one who loses."

Fares advises entrepreneurs to beware of other pitfalls, such as lack of preparation and capital.

"Some businesses are cutting it so close," he said. "There's not enough cash flow, so the very first bump in the road they come to, out they go. That's why you must be prepared in terms of a business plan and financial backing."

Business owners must also recognize the importance of perseverance.

"Do what you do well," Fares said, "and don't give up."