Canada’s Best Managed Companies achieve double digit growth
High growth and success attributed to focused strategy and investment in people
Winners of Canada’s Best Managed Companies program are recognized for outstanding business performance and innovative management.
TORONTO, March 25, 2014 – Deloitte today announced the winners of Canada’s Best Managed Companies program. The award recognizes Canadian privately owned and managed companies for outstanding business performance and innovative management. Winning companies achieved success through investing in their people. They showed resolve and ability to build and grow sustainable businesses for the long term with double digit growth, outpacing Canada’s forecasted 3 percent economic growth rate. More impressively those that have significant exports, grew those export sales by over 40 percent.
Best Managed companies lead the way with a clear vision focused on growth in new markets and product lines to drive profitability. They put the right people with the right skill sets in place, because that’s what drives financial results. Additionally Best Managed companies are willing to share insights that can help all private companies grow, and that’s important for Canada as a whole.
Best Managed companies focus on their people through internal employee relations, investment in skilled talent, partnerships with external sources and strengthening relationships with customers. They communicate more and recognize individual contributions using key performance indicators to successfully move the business forward. Many of this year’s winners hired senior people with specific skill sets to accelerate their development and add value and deliver outcomes.
“Achieving the Best Managed designation speaks to strong corporate leadership. In looking at this year’s applicants, what stood out for us with the winners was that they are more dedicated than ever to pursuing profitable growth,” says Dino Medves, Senior Vice-President, Commercial Banking, CIBC, a long time sponsor of the program. “In the face of a changing global marketplace, these companies are building efficiencies and driving down costs. By growing aggressively and profitably, they are strategically expanding their operations, while making a significant contribution to the Canadian economy.”
Key areas of focus for Best Managed companies include:
During the recession, many companies focused on cost cutting to match expected declines in revenue. As the economic picture improves, Best Managed companies are coming out ahead because they shifted their focus from cost cutting to growth and profitability. Best Managed companies concentrate their efforts on a specific segment or customer base which has generated on average higher revenue growth and profitability.
Best Managed companies engage their people in meaningful conversations to help their team members understand their organization’s overall purpose and vision. With talent being the most important aspect of success, working conditions, opportunities for growth, training and development, along with self-reflection through non-routine questionnaires have been integral to determining if organizations are doing the right thing to win. Employee surveys and discussions help a company define its “higher purpose” about why it exists and how it adds value to stakeholders, customers and employees.
M&A activity as a prime driver of growth
Deals that involve more risk and are greater in complexity can have a transformational impact as a growth strategy. Many Best Managed companies have taken an M&A mindset to further their market reach, find economies of scale for purchases and develop talent pools that can build strategies to reach new markets and customers.
Closing the productivity gap
Deloitte research found that lagging firm-level investment and risk taking by mature Canadian companies in areas like technology and machinery and equipment leaves Canada lagging behind the US and other developed countries.
Helping to close that gap, Best Managed companies made investments in enterprise resource planning systems and customer relationship management systems that help increase productivity to sell into their customer base and attract new customers more efficiently.
Investments made in technology and infrastructure have seen above average returns for greater employee productivity, accelerated growth and development in new products and services that offer a competitive edge.
Continued investments in capital assets and technology help drive innovation to grow profitability. Best Managed companies are expanding operations to capture more complex and multi-national projects with multiple disciplines and partners to create a more compelling profit story.
2013 Canada’s Best Managed Companies Winners
|Global Relay||IT||British Columbia||globalrelay.com|
|Island West Coast Developments Ltd.||Construction||British Columbia||iwcd.ca|
|Purdys Chocolatier||Retail||British Columbia||purdys.com|
|Borger Group of Companies||Construction||Alberta||borger.ca|
|CCI Inc.||Oil & Gas||Alberta||ccisolutions.ca|
|Community Natural Foods Ltd.||Grocery||Alberta||communitynaturalfoods.com|
|Graycon Group Ltd.||IT Consulting||Alberta||graycon.com|
|Jersey City/Capz Canada||Retail||Alberta||jerseycity.ca|
|Sealweld Corporation||Manufacturing/Services & Training||Alberta||sealweld.com|
|Upside Engineering Ltd.||Engineering/Design||Alberta||upsideeng.com|
|Vista Projects Limited||Engineering||Alberta||vistaprojects.com|
|FourQuest Energy||Oilfield Services||Alberta||fourquest.com|
|Landmark Group of Builders||Construction||Alberta||landmarkgroup.ca|
|Scandinavian Building Services||Commercial Cleaning/Janitorial/Maintenance||Alberta||scandinavian.ca|
|Westcorp Inc.||Real Estate||Alberta||westcorp.net|
|Canadian Tire Corporation, Limited||Retail||Ontario||corp.canadiantire.ca|
|Charger Logistics Inc||Transportation & Logistics||Ontario||chargerlogistics.com|
|Deep Foundations Contractors Inc.||Construction||Ontario||deep.ca|
|Kids & Company||Childcare||Ontario||kidsandcompany.com|
|Modu-Loc Fence Rentals||Construction & Events||Ontario||modu-loc.ca|
|Molinaro's Fine Italian Foods Ltd.||Food Manufacture/Retail||Ontario||molinaros.com|
|Skyline International Development||Hospitality/Real Estate||Ontario||skylineinvestments.com|
|ASTOUND Group||Design & Fabrication||Ontario||astoundgroup.com|
|Napoleon Group of Companies||Manufacturing||Ontario||napoleonproducts.com|
|Deslaurier Custom Cabinets Inc.||Custom Cabinets & Millwork||Ontario||deslaurier.ca|
|J.L. Richards & Associates Limited||Engineering/Architecture/Planning||Ontario||jlrichards.ca|
|Voyageur Transportation Services||Transportation||Ontario||voyageurtransportation.ca|
|CenterLine (Windsor) Limited||Welding Equipment||Ontario||cntrline.com|
|Flanagan Foodservice Inc.||Food Service Distribution||Ontario||flanagan.ca|
|peopleCare Inc.||Senior/Long-Term Care||Ontario||peoplecare.ca|
|Driving Change Automotive Group Ltd.||Auto Dealership (Automotive)||Saskatchewan||dcag.ca|
|FWS Group of Companies||Design-Build/Construction||Manitoba||fwsgroup.com|
|J. Sonic Services Inc.||Hardwood Flooring/Consumer Electronics||Quebec||jsonic.ca|
|Laurentide Controls||Automation Solutions||Quebec||laurentide.com|
|Lanctôt Ltée||Sporting Goods/Apparel/Ophthalmic Frame Distributor||Quebec||rlanctot.com|
|Agri-Marché Inc.||Animal Feed/Breeding Farms & Grain Trading||Quebec||agri-marche.com|
|Momentum Technologies Inc.||Professional Services Automation/IT||Quebec||momentumtechnologies.ca|
|AMEC Black & McDonald Limited||Oil & Gas Services||Atlantic||amecblackandmcdonald.com|
|Cherubini Metal Works Limited||Structural Steel||Atlantic||cherubinigroup.com|
|J.W. Lindsay Enterprises Limited||Construction||Atlantic||jwlindsay.ca|
About Canada’s Best Managed Companies
Canada's Best Managed Companies continues to be the mark of excellence for Canadian-owned and managed private companies with revenues over $10 million. Every year, since the launch of the program in 1993, hundreds of entrepreneurial companies have competed for this designation in a rigorous and independent process that evaluates their management skills and practices. The awards are granted on four levels:
- Best Managed winner (one of the 50 new winners selected each year).
- Requalified member (repeat winners retain the Best Managed designation for two additional years, subject to annual operational and financial review).
- Gold Standard member (winners that retain the Best Managed designation for four to six consecutive years).
- Platinum Club member (winners that maintain Best Managed status for a minimum of six consecutive years).
Program sponsors are Deloitte, CIBC, National Post, Queen's School of Business and MacKay CEO Forums.
The 2014 Best Managed program will introduce an Alumni Category open to past winners that no longer meet the current program ownership criteria. Nominations will be open for past Best Managed winners that are predominately managed in Canada that are in good standing with its reputation and results. The new Alumni Category will provide successful applicants with an opportunity to share in the program.
Deloitte, one of Canada's leading professional services firms, provides audit, tax, consulting, and financial advisory services. Deloitte LLP, an Ontario limited liability partnership, is the Canadian member firm of Deloitte Touche Tohmatsu Limited.
Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte Touche Tohmatsu Limited and its member firms.
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