March 10, 2017
Deloitte’s Canada’s Best Managed Companies awards program recognizes Canadian privately-owned and managed companies that demonstrate exceptional business performance.
Each of this year’s winners had an unquestionable expectation of growth that helped drive them beyond the status quo and their peers, says Deloitte. This growth orientation enabled this year’s winners to embrace a courageous mindset and make innovative business decisions that other companies may not, and the success is evident.
“Leading with a courageous mindset is imperative to being a Best Managed company,” says Peter E. Brown, National Co-Leader of Canada’s Best Managed Companies program and Partner at Deloitte. "When faced with tough situations, these companies have the values and the strength to make hard decisions to ensure that their business continues to move forward and succeed.
“Best Managed companies are calculated risk takers and make brave business decisions that contribute to their sustained success, year over year."
Trends common to Best Managed companies that contribute to their success include:
- a disproportionate investment in people, with a focus on fostering diversity and inclusion, developing leadership capacities and investing in learning and growth to upskill their workforce
- targeted investments in productivity and adaptability including software, equipment, and new processes and developing a culture that embraces change Best Managed companies also place a strong emphasis on self-assessment and being realistic about their limitations and potential future challenges
This mindset enables companies to plan constructively for their business and ultimately move them beyond only wishing for growth, and toward developing tangible actions for success.
“While many companies look only to revenue growth as a key marker of success, Best Managed companies take strategic risks to grow in a number of different ways,” says Lorrie King, National Co-Leader of Canada’s Best Managed Companies program and Partner at Deloitte. “It’s this adaptability and approach to business that sets them apart from the status quo.”
According to Deloitte’s recent report The Future Belongs to the Bold, courageous businesses experience greater revenue growth, create more jobs and outperform their peers. However, most Canadian businesses — nearly 90 percent — lack courage. The report also found that fearful businesses were also twice as likely to see their revenues fall compared to their courageous counterparts. Here’s a sampling of this year’s winners.
Daltco Electric (Kingston, ON) is a first-time winner.
Best managed winners
These companies have re-applied and successfully retained their Best Managed designation for two additional years.
- Éclairage Contraste Inc. (Lévis, PQ)
- Forbes Bros Ltd. (Edmonton, AB)
- Gerrie Electric Wholesale Limited (Burlington, ON)
- Integral Energy Services (Airdrie, AB)
- Mulvey & Banani International Inc. (Toronto, ON)
- Powerline Plus Ltd. (Toronto, ON)
- Stelpro (Saint-Bruno-de-Montarville, PQ)
- The K-Line Group of Companies (Stouffville, ON)
Gold standard winners
After three consecutive years of maintaining their Best Managed status, these winners have demonstrated their commitment to the program and successfully retained their award for 4-6 consecutive years.
- ECS Electrical Cable Supply Ltd. (Richmond, BC)
- Houle Electric (Burnaby, BC)
- HTS (Toronto, ON)
- Techmation Electric & Controls Ltd. (Airdrie, AB)
Platinum Club members
These winners have maintained their Best Managed status for seven years or more.
- Alliance Energy (Regina, SK)
- BBA (Mont-Saint-Hilaire, PQ)
- CANA Group of Companies (Calgary, AB)
- Deca Cables (Trenton, ON)
- E.B. Horsman & Son (Surrey, BC)
- Groupe Deschênes Inc. (Montreal, PQ)
- Standard Products Inc. (Saint-Laurent, PQ)
See the full list of winners: www2.deloitte.com/ca/en/pages/canadas-best-managed-companies/articles/meet-our-winners.html.