EAST MIDDLEBURY — What do two 37-year-old friends do after successfully incubating and growing two successful biotechnology companies in the greater Boston area?

They become owner-operators of an established lumber business in East Middlebury, Vt., of course.

Not exactly a script you’ll see play out in Forbes, but Andrew Noh and James Burgess — the new owners of Goodro Lumber in East Middlebury — don’t stick to scripts. They do what feels right, and for them, that meant gratefully taking a path less traveled for heretofore white-collar entrepreneurs looking for a new challenge.

“Our joke is that we followed the natural trajectory of moving from biotech into lumber,” Burgess said with a broad smile during a Monday interview, conducted with Noh at the duo’s new acquisition.

“We fundamentally believe that work and community are inseparable,” Noh said. “We wanted to find a business that is a community, that allows us to access community.”

The duo officially took possession of Goodro Lumber on July 29, acquiring it from Mark Thomas, Cindy Thomas, Tim Comes and Marie Warner.

“We are thrilled to kick off the fifth chapter in the history of Goodro Lumber,” reads a statement from Noh and Burgess announcing the ownership change. “We are honored to continue the legacy of exceptional quality and outstanding service that Goodro Lumber has been known for, for over four generations.”

Established in 1930 by Harry and Mildred Goodro, the business originally functioned as a mill, producing custom-sawed lumber primarily for furniture. In 1950, it jumped into the retail building-material niche. Goodro’s is now one of East Middlebury’s anchor businesses, with its lumber yard at 388 East Main St. and its kitchen, bath & flooring division located at 3255 Route 7 South.

Goodro’s has faithfully served Addison County for four generations, and its owners were looking to pass the baton to a fifth.

So how did two friends with an abundance of business acumen but no construction background nail down a deal for a small-town lumber company?

The Burgess-Noh association goes back around 12 years. Both eschewed their respective quests for an MBA to get hands-on experience in the business world. The duo co-founded OpenBiome  — a healthcare nonprofit that created the nation’s first public stool bank for fecal transplant therapies — and Finch Therapeutics, a biotechnology company that develops microbial therapies.

It was rewarding work, but the two friends found themselves at a crossroads as they entered their mid-30s. Both were starting families, which introduced a new set of priorities going forward.

“We asked ourselves, ‘What do we want for our families in the long-term, and Vermont seemed to have the right mix of values that we wanted,” Noh said. “We love being outdoors, we love smaller communities.”

Greater Boston afforded a lot of opportunities, but “smallness” was not one of them.

“We had had a great experience in (the biotech) world, but wanted to change course a little,” Burgess said.

Burgess was the first to bid farewell to biotech and the Bay State. He, his wife Meg Broughton and their young child moved to Vermont (Stowe) in the fall of 2021 during the COVID pandemic. It’s a state that Burgess had frequently visited for ski trips and sightseeing, and the time seemed right to act on an impulse shared by his wife: “What if we lived here?”

Meanwhile, Noh continued to work at Finch, but knew it was only a matter of time before he’d reunite with Burgess on a business endeavor. Noh already had a connection to Vermont, though his wife, Sarafina, who had attended Middlebury College and graduated in 2011. Also, her grandparents Max and Lois Kraus moved to the county’s shire town two decades ago.

GETTING SERIOUS

Last October, Burgess and Noh got serious about their next move.

“We sat down and said, ‘What do we want to do next?’” Noh recalled.

They agreed they wanted to produce something tangible. Science and drug development had been gratifying, but it’s a field that’s necessarily marked by trial and error.

The partners became very deliberate in picking their new business opportunity. They limited their search to Vermont, consulted brokers, acquired a database of all Green Mountain State businesses, and created a website — milaridge.com — outlining their entrepreneurial wish list. In essence, they wanted an established business with at least a 10-year history, one they could operate for the next 30 years.

“(We are) looking to preserve and grow your people, reputation, and legacy while maximizing your exit value in the sale of your company,” they stated on their website.

Burgess and Noh visited multiple candidates, and Goodro rose to the top of their list.

“It felt like it checked all the boxes for us, and in particular, we got the sense that people here cared about each other and the community,” Burgess said. “The business is almost 100 years old; it’s been very consistent and steady — in line with what we were hoping for.”

It also was of a scale the partners were looking for.

LONGTIME BUSINESS PARTNERS James Burgess, left, and Andrew Noh recently left the biotech world to begin the next chapter of their professional lives — as the new owners of Goodro Lumber in East Middlebury.
Independent photo/Steve James

OpenBiome had a staff of 65, while Finch grew to around 200. Goodro has a staff of 18 full-timer, which was in the new owners’ sweet spot.

“I think James and I felt we were happiest and having the most impact collectively when our teams were somewhere between 10-25 people,” said Noh, alluding to a number that allows management to be truly known their employees, and that enables a workforce to easily gather in one room for occasional meetings.

Before finalizing a deal, Noh and Burgess of course met with Goodro ownership.

“They walked us around (the property) and asked us, ‘What’s drawing you to this?’” Noh recalled.

The buyers’ answer was they wanted a business with a small, dedicated team that felt like family.

Bingo.

“(The previous owners), in first describing their team, said, ‘We’re a family here.’ James and I at that point knew they spoke our language,” Noh said.

The partners found plenty of other pluses to forging a deal. Among them — an experienced GM in Tim Comes, who agreed to stay on through the ownership transition and beyond.

“It’s wonderful to have Tim keeping things steady for the team and customers. He’s also been fantastic acting as a mentor and guide for us,” Burgess said.

The new owners have no plans to make big changes at a business that’s stood the test of time. They might make some technology tweaks if needed to help their team, and they’ll listen to employees’ and contractors’ advice on possible product additions. But they don’t want to tinker with what’s been a successful business blueprint.

“Our first rule of thumb is, ‘Don’t screw anything up,’” Burgess said.

He and Noh also served notice they’re not going to dispassionately ensconce themselves in a side office. They want to be true owner-operators.

“We have energy and a total willingness to listen to new ideas, but our message is, ‘We’re not here to change anything; this business works,” Burgess reiterated. “It would’ve worked with or without us. I’m glad we’re here to offer a succession plan.”

Noh and Burgess said they’re grateful with the way Goodro employees have welcomed them. And “going to the office” this past week has certainly been a change from their past workplace experiences.

“Here, you walk through the pine shed and it smells amazing,” Noh said. “You can’t beat that.”

Reporter John Flowers is at [email protected].