About the Awards
The criteria that are used to determine winners of the Galanis Awards for Excellence in Family Business — financial stability, innovation, quality of life for employees, record of growth, and contributions to the community — have guided two generations of the Galanis family throughout the 47-year history of Sealing Devices Inc.Sealing Devices, a manufacturer and distributor of orings, gaskets and seals, was founded in 1963 in Alden by Terry Galanis Sr. His son, company president Terry Galanis Jr, now runs the company, located in a state-of the- art facility in the Buffalo suburb of Lancaster.
The Galanises understand the important role family firms play in communities in the region. Each year the Galanis family and Alfred University honor Western New York family firms with the Galanis Awards for Excellence in Family Business. The annual awards are made possible by a gift from the Galanis family.
“We feel it is important to recognize successful family businesses because they are the lifeblood of this region. We need to encourage their growth,” Galanis Jr. said. Stability and a willingness to reinvest for long-term success is more prevalent in family firms than at publicly held businesses, Galanis said. “The family firm will put more into their enterprise to be successful,” he said. Galanis Jr. said it is important to treat employees well, knowing that they have a stake in the success of the company.
That has been a principle at Sealing Devices and, Galanis said, is evident at any successful family firm. “When an employee works for a family business, they know the owners and there’s more of a feeling of stability,” he said.
“At a family business, if you talk to the employees, they share in the company philosophy.” Equally important to sustaining growth, seeking innovation and providing for employees, is a business’s willingness to support the local community, whether it by providing jobs for local residents or lending a hand or voice to charitable endeavors.
“When judging (award) nominees, we look at the contributions they’ve made to the community. Do they give back? We need that in Western New York,” Galanis Jr. commented.
More than 50 family firms in Western New York have been honored since 1999, when the Galanis family began sponsoring the awards.
“We’re very happy with how the awards have grown,” Galanis Jr. said. “We’re seeing more and more qualified candidates every year. It shows there are a lot of good family businesses in this region.”