Stettler business Solution-Corp Inc. climbed up the ranks from 127 last year to 80th spot in the 28th annual PROFIT 500 list of Canada's fastest growing companies after recording a five-year revenue growth of 938 per cent.
According to a media release on Thursday, Sept. 15, James Cowan, editor-in-chief of PROFIT and Canadian Business said, "Companies become a part of the PROFIT 500 through innovative thinking, smart strategy and sheer grit."
And it has been a one-of-a-kind journey for the company, which is yet to celebrate its 10th year of operation.
"SolutionCorp has had great growth, I know we will continue to forge ahead in the western Canada market," said CEO Dean Lovell, a Stettler resident who believes in hiring local talent and keeping his headquarters right in town where he grew up. "This is a great achievement for us and will challenge us to better our rank next year."
Lovell said that with their clients facing extreme financial struggles with the low commodity pricing, it might be tough to keep up to the expectation but it is worth a go.
"SolutionCorp is honoured to be on the PROFIT 500 list," added Lovell. "This achievement reflects the strength of our products and the dedication of our team to maintain a high level of compliance and integrity solutions for our clients."
Well-known within the industry as one of the top-notch compliance companies, it has not been smooth sailing the past year for the nine-year-old company.
"SolutionCorp has had to adapt over the last year," explained Lovell. "We've had to change our growth strategy completely, to adapt to this new 'lower for longer' commodity pricing that is affecting oil and gas companies at the moment."
But despite all the trimmings and detours, Lovell has a vision which he is relentless about.
"We have been over to China recently and explored the opportunities that are opening up in the integrity markets there, that may be our next large growth opportunity, but things happen and develop slowly in that market," said Lovell. "We will be cautious not to outdrive our headlights, I believe our growth will be more tempered and strategic over the next year."