SolutionCorp, a Stettler-based company was ranked 127th among Canada’s fastest growing companies on Thursday, Sept.17 by Canadian Business and PROFIT in its 27th annual edition.
PROFIT 500 ranks Canadian businesses by their five-year revenue growth.
SolutionCorp made the list with five-year revenue growth of 539 per cent.
The company has been specializing in providing compliance solutions for major oil and gas companies, besides helping to design and manage corrosion mitigation programs for over 20,000 km of pipelines for upstream oil and gas industry in western Canada since 2007.
They offer innovative cost-effective solutions that ensure pipeline safety and long-term asset integrity is managed effectively and within compliance to regulations.
“The PROFIT 500 represent the highest tier of entrepreneurialism in Canada,” said James Cowan, editor-in-chief, PROFIT and Canadian Business. “They should be lauded for the positive economic contributions they’ve made to their communities– and the entire country.”
The company, which had its humble beginnings in the Town of Stettler was based on the “vision, mission and core values,”according to CEO Dean Lovell.
“This was really the road map that we felt would allow us and our future staff to keep focused and sustainable as we grew the company,” said CEO Dean Lovell. “I would say that we did not focus on making the 2015 PROFIT 500 list, we focused on doing the right things for our customers, and as a result our customers put their trust in SolutionCorp, and we have achieved this “milestone” because they asked us to grow with them.”
SolutionCorp is also a leader in identifying and reporting greenhouse gas emissions.
“Our advanced tools allow for leaking greenhouse gasses to be identified and repaired cost effectively, therefore reducing the environmental impact and saving the producers lost revenue due to leaks,” said Lovell. “We were surprised that we ranked 127, it really is a testament to our great staff’s hard work and dedication.”
Having grown up in Stettler and attended the William E. Hay school, both Dean and Jami Lovell knew from the start that it was the place where they wanted to raise a family.
As the CFO, Jami Lovell plays a crucial role in the company and is responsible for steering it financially, and yet she has to maintain the work-life balance on a regular basis.
“Family has always been the top priority for us, but owning your own company it becomes like another child and your team becomes a part of that family,” said Jami. “Making sure to give quality time to all areas has brought challenges, but Dean and I have designed my office to be home-based and that way we can make sure all bases are covered.”
Growth for SolutionCorp has not come easy, with the team having to expand three times.
“We now have created about five extra offices that we have available to grow into instead of just providing offices for the staff we have,” said Lovell. “This was not the most efficient way to do things, but at the time we did not have the capital to expand our space, and we were doubling up people in offices until we created our last expansion.”
Based in a quiet corner of the 46th Street in Stettler, SolutionCorp is here to say as the Lovells do not wish to move the headquarters anywhere.
“Stettler will always be our headquarters, but we foresee the requirement to have satellite offices in other areas of Alberta and other provinces, in order to keep pace with the demand for pipeline integrity services, and keeping our clients’ pipelines safe to operate,” said Lovell. “We see the company continuing to grow, and offering our clients solutions that are innovative and cost effective.”