Over the past year, Industek’s sales have jumped from $6 million to $11 million, and the company plans to continue its vertiginous growth and reach revenues of $20 million within five years.
Increase From $6M to $20M Sales
From $6M to $20M in sales
“The market for presses and compactors is growing fast, and we’ve taken the necessary steps to ensure that we’re on top of the game. We’re starting to implement a strategic development plan that will enable us to sell our products across Canada, as well as in the Northeastern U.S.”, explains Peter Sandke, General Manager of the company based in Victoriaville’s industrial park.
After a 48% increase in sales in 2021, Industek has seen a further 40% increase since the beginning of the year. This increase is largely attributable to gains made in Quebec, which accounts for some 80% of the company’s revenues. While there is still potential for development in the province, Mr. Sandke would like to see the export share rise to 40% over the next few years.
This ambitious plan, entitled “Industek 2.0”, will require standardization of processes, increased automation and expansion of the François-Bourgeois plant. These investments will not only boost the plant’s production output, but also significantly improve the quality of life of its workers.
In order to achieve its objectives, Industek estimates that it will need to hire around fifty additional workers over the next five years.
To achieve this, Mr. Sandke is focusing first and foremost on the development of in-plant skills. We do want to recruit people who don’t necessarily have any training, but who want to get a good job in the factory.
“Our aim is to train people who have just left school, or who want to retrain in a new field and benefit from good working conditions. We are able to welcome them and teach them the techniques related to our field of activity,” he explains.
The company has also taken steps internationally to add to its group of employees. In recent years, six people from Mexico and six from Morocco, mainly welders and fitters, have joined the team, which now numbers 45 workers. Industek is already lining up 12 more foreign workers: four from Mexico, six from Morocco and two from Guatemala.
For densification and better waste management
Located in Victoriaville’s industrial park, the company specializes in the design and manufacture of vertical presses, stationary compactors, mini-compactors and integrated compactors for commercial, industrial and multi-family residential applications. The aim is to reduce the space occupied by residual materials (both waste and recycling), in order to limit collection frequency.
“Our equipment allows a compaction ratio of four to six to one, which will significantly reduce the volume of residual materials. This facilitates densification, since we can have more units or greater production. It also reduces the number of collections. The material can be collected once or twice a week, rather than daily,” explains Peter Sandke.
At a time when the concepts of densification and reduction of greenhouse gas emissions are all the rage, the compaction market is growing steadily. Builders will try to maximize space when constructing commercial, industrial or residential buildings. Compaction will also make it possible to reduce collection frequency, which means fewer trucks on the road, less fuel consumption and less maintenance.
“We have an important role to play in the future in a context of densification, as well as environmental protection. It’s a market share we intend to capture, and one that will generate a greener future,” continues the new owner.
A forward-looking transaction
An important page in Industek’s history has been turned, as the company’s founder, Louis Roy, sold a majority stake in his company to Fredac, an acquisition company owned by Frédéric Albert and Frédéric Chabanne. Peter Sandke also became a shareholder and was entrusted with operations.
Like Industek, Fredac has undergone significant growth (over 50%) in recent years, and has the necessary resources to ensure the proper development of the Victorian flagship on the national and international scene.