At 12, he was cutting metal in northern Italy. By 21, he was teaching DMG’s own technicians how to use their machines. At 47, he owns the whole company he first walked into just to set up a machine.
Federico Veneziano is the owner of BoldX Industries and an old friend of mine. His story requires two episodes. This is part one: the serendipity, the winding path through shops and countries and setbacks. Part two, we will get into what he’s building now. But first, this is how he got here.
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Interview Highlights
Teaching the Experts
Federico grew up about 60 miles northwest of Milan in a small town called Omegna. He started working in a machine shop at 12 years old. By his early twenties, he had developed deep expertise on Siemens controls, particularly the 840D. When DMG sent technicians to train him on a new machine, they were still new on the control themselves. He ended up helping them. That information got back to DMG headquarters, and they offered him a job.
He traveled the world servicing CNC machines. Eventually he proposed an ambitious plan: working three years in the U.S., two years in Germany, three years in China. They agreed. He arrived in the US on August 4, 2004. His English wasn’t great, nobody had booked him a hotel, and he didn’t have a credit card. The first day was rough but he figured it out.
The Job That Changed Everything
One of Federico’s first projects was at American Micro in Batavia, Ohio. The company had been founded in 1957 by a Swiss immigrant. He spent a year there setting up a GMC 35, then Gildemeister’s CNC multi-spindle, for a fuel connector job that required gun drilling on a multi-spindle. It had never been done before. The project required developing new spindles and tooling just to make the part work.
During that year, he built relationships with the team. When things went wrong with DMG around Christmas 2005, he walked away. He had no plan. It was ten days before the holiday. Then American Micro called.
He joined as a process engineer and spent the next two decades working through every department: quality, supply chain, sales, engineering. He became close with the owners, particularly René, one of the founding family’s sons. He bought in as a minority owner, eventually reaching about 14%. He kept that ownership quiet for years. Most people at the company didn’t even know.
From Rock Bottom to Owner
Then everything hit at once. René passed away. Federico’s father passed within a couple of months. Personal problems piled on. By his own words, it was rock bottom.
American Micro was second-generation family owned with no clear succession plan. Federico had tried to buy the company twice before. This time, he decided it was now or never.
How does someone go from 14% to sole owner of a company doing $20-25 million in revenue? Federico says it was an amicable transaction where he leveraged multiple things he’d built over the years. He doesn’t go into every detail. But somehow the deal got done.
In part two, we’ll get into what he’s building now. BoldX Industries has 125 employees, and Federico says they’re forecasting significant growth. He’s also got a book trilogy coming out.
But that’s the next chapter. This one is about how he got here.
Question: What twist of fate brought you to your current career?
This article was originally posted on https://todaysmachiningworld.c...