Life in B.C.’s business fast lane
FINDit
Business in Vancouver’s annual inventory of the 100 fastest-growing companies in the province includes a wide range of entrepreneurs and companies representing sectors across B.C.’s business spectrum. The list provides a good sampling of where enterprise in the province is gaining the most traction and where new opportunities are being seeded. | B1–B16
Gold Sponsors
Five alive
Top five versus bottom five list performers by the numbers
Making it in Mongolia
Turquoise Hill hits the mining motherlode with Oyu Tolgoi
B3
Saloon success
B4
Fintech’s bright future
Joseph Richard Group’s big service industry empire
B5 B6
Financial technology firms among fastest of the fastest
Silver Sponsor
BIVLIst
100 fastest-growing companies in B.C.
B9, B11, B13, B14, B15
B2
BUSINESSVANCOUVER august 22–28, 2017
ADVER TISING FE ATURE
Focus on success Sleek headquarterS for coal mining company
Fusion Projects delivers “exceptional value” for downtown headquarters
A
s a start-up mining company looking to build its first head office in downtown Vancouver, Conuma Coal Resources Ltd. wanted to make a splash. Conuma president Mark Bartkoski said the company—which deals in highquality metallurgical coal and has approximately 520 employees—was looking for something with a “special flair” for its 1177 West Hastings Street address. Bartkoski reached out to Fusion Projects, a Vancouverbased design-build company who has worked for such clients as Raymond James, Cadillac Fairview, Sony Pictures and PwC. He said the result matched his original vision, which encompassed 3,000-square feet of office space, plus it came in on time and budget. “Our ask was a four-month completion time, reasonable economics, and high on creativity,” said Bartkoski. “We wanted a clean, crisp look with a specific industry
Fusion Projects’ team members that worked on the Conuma Coal head office include Business Development manager Brad McArthur, Senior Project manager Jason Langois, Project Coordinator Jaclyn Kenmare and Site superintendent Brett Robinson.
signature.” What was he looking for specifically regarding design? Bartkoski
said he gave Fusion some general ideas and they ran with it. “Elegant but solid,” he said.
“Refined but out of the box.” One of the focal points of the design is the smart glass boardroom walls, in which the light transmission properties are controlled manually. Bartkoski said the idea is to “command a strong first impression” with the technology and Fusion nailed it. The lobby features distinct red carpeting and chairs, offset by the company’s logo in silver off on one wall. The sleek design has a distinct postmodern look to it, but the splashes of colour add a new bold element to the industrial stylings. Bartkoski said Fusion was “professional” from the start right until the very end and couldn’t be happier with the outcome. “I would strongly recommend a Fusion partnership, as they were very receptive to owner design criteria and ideas, yet very creative in accomplishing the final product,” he added. “Their resources and vendor relationships were a huge asset.” •
Fastest 100
BUSINESSVANCOUVER august 22–28, 2017
B3
Revenue growth slower now than in the wake of 2008 The top fastest-growing companies by revenue versus the companies with the slowest-growing revenue
Photon Control Inc. posted the largest jump in list rankings by moving up 43 places; Neovasc Inc., at the other end of the scale, fell 61 places
Photon Control Inc.
Tekskil Industries Inc.
Interfor Corp.
Turquoise Hill Resources Ltd.
ABM Applied Biological Materials Inc.
Avigilon Corp.
Global Relay
B2Gold Corp.
TIO Networks Corp.
Neovasc Inc. -60
-40
-20
20
40
60
Movement on BIV’s 100 Fastest-Growing Companies list
REVENUE | Tech
and service sector businesses dominate BIV list of fastest-growing companies
Source: BIV List
Revenue growth for the five biggest gainers on the Fastest-Growing list Turquoise Hill had the highest dollar revenue increase in the top five
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Revenue growth for the five companies with the slowest growth 74% of top 100 companies have dropped in BIV rankings since 2013
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BIV’s list of the top 100 public companies, which is based on revenues earned, their relatively consistent revenue growth diminishes their presence on the fastest-growing list. Jostle Corp., a Va ncouverbased office communication platform developer, had the largest revenue increase of any company in B.C. The business increased its revenue by nearly 5,900%, growing to $4.4 million in 2016 from $74,000 in 2012. While Jostle Corp. holds the No. 1 spot on BI V’s FastestGrowing list, its 2016 revenue was overshadowed by Turquoise Hill Resources Ltd.’s (TSX:TRQ) $1.6 billion. Turquoise Hill, which ranks in fifth place on this year’s Fastest-Growing list, is the only company in the top five to report a revenue decline in 2016 from 2015. It dropped to $1.6 billion from $2.1 billion. The mining company, however, had the third-largest five-year revenue increase in terms of absolute dollars at $1.5 billion. The companies with bigger five-year revenue increases were Canfor Corp. (TSX:CFP) at $1.6 billion and Lululemon Athletica Inc. (Nasdaq:LULU) at $1.7 billion. While these companies had the largest dollar revenue increases, Lululemon placed 59th and Canfor placed 94th in terms of percentage growth over the last five-year period. •
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B
ritish Columbia’s businesses are experiencing significantly less growth than they did 10 years ago, before the 2008 global financial crisis. I n 2008, the top five fastest-growing companies in the province reported an average five-year revenue grow th of 31,500% between 2003 and 2007. B.C.’s fastest-growing businesses are now posting smaller five-year revenue growth than that reported by the top-100 list in the immediate aftermath of the Great Recession. In 2009, the average five-year revenue growth fell more than half, to 14,400% for B.C.’s five fastestgrowing companies. In comparison, this year the average revenue growth for the five fastest-growing B.C. businesses was 3,600%. The slower growth rate is highlighted by the largest movement on Business in Vancouver’s Fastest-Growing Companies list: Neovasc Inc.’s (TSX:NVC) 60-position drop. The company fell 61 spots on the list since 2013, slipping to 93rd place in 2017 from 32nd four years earlier. Only 26% of companies on Business in Vancouver’s FastestGrowing list have moved up in the ranking since 2013. The company with the largest
jump in rankings was Photon Control Inc. (TSX-V:PHO). It moved up 43 positions from 80th in 2013 to 37th this year. Companies whose growth declined between 2013 to 2017 fell an average of 20 places on BIV’s Fastest-Growing list. Companies with growth increases over the same period gained an average of 15 places. Revenue growth for B.C.’s 100 fastest-growing companies has slowed significantly, as shown in the growth rate of the single fastest-growing company in 2008, OneMove Technologies Inc. That company’s 2008 growth alone was almost equal to the combined growth rate of all 100 companies on the BIV list in 2017. Eighty per cent of the companies on Business in Vancouver’s Fastest-Growing Companies list are from two sectors: the technology and service industries. Tech companies have the la rgest presence on the l ist, with 46 companies focused on everything from life sciences to software design. Service-based companies occupy 34 spots on the list, but are relatively underrepresented in the top 10, whereas tech companies like Precision NanoSystems Inc. and CRH Medical Corp. (TSX:CRH) feature prominently. W hile forestry and mining companies typically dominate
avansantvoort@biv.com
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By Albert Van Santvoort
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B4
Fastest 100
BUSINESSVANCOUVER august 22–28, 2017
Mongolian motherlode pays off for B.C.’s Turquoise Hill MINING | The
Vancouver-headquartered company’s revenue has grown nearly 2,000% in four years
By Nelson Bennett nbennett@biv.com
W
hen you visit a mining company’s website and click on “projects,” you’ll usually see at least one operating mine and several exploration and discovery projects featured. Under the “projects” menu for Turquoise Hill Resources (TSX, NYSE, Nasdaq:TRQ), there is a single asset – Oyu Tolgoi. But what an asset. In terms of sheer scale and ore quality, the Oyu Tolgoi (which means “turquoise hill” in Mongolian) is expected to be the world’s third-largest copper mine when it reaches peak production, and has an expected mine life of close to a century. Which explains why Turquoise Hill has no other exploration projects in its pipeline. “If I have the best undeveloped copper project in the world, I don’t necessarily want to go and develop a project – like we’ve been offered in Peru – that’s one-fourth the grade,” said Turquoise Hill CEO Jeffery Tygesen. “Oyu Tolgoi is a Tier 1 asset, and they come by about every 20 to 25 years.” T h e m a s s i v e O y u To l g o i
The Oyu Tolgoi mine in Mongolia’s south Gobi Desert is massive, high grade and just 80 kilometres from the Chinese border |
copper-gold mine is situated in Mongolia; the man responsible for making it a reality, Robert Friedland, is an American who lives in Singapore; and the majority shareholder of Turquoise Hill, Rio Tinto PLC (NYSE:RTP),
is a multinational mining company headquartered in the U.K. But the Oyu Tolgoi is very much a Vancouver mining success story. The company is still headquartered in Vancouver even though
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Rio Tinto owns 50% of the company. That’s largely a legacy of Turquoise Hill having been spun out of Friedland’s Ivanhoe Mines (TSX:IVN), which was and still is based here. Turquoise Hill’s growth since 2012 has earned it fifth place in Business in Vancouver’s list of the 100 fastest-growing companies in B.C. With a market cap of $8 billion, Turquoise Hill is B.C.’s fifth-largest mining company. The company’s revenue grew 1,943% in four years, from $78 million in 2012 to $1.6 billion in 2016, and its head count has swelled, contracted and swelled again, with the construction phases of an open-pit mine followed by the construction, now underway, of an underground mine. At the end of 2012, the company employed 4,069 people, a number that dropped to 2,530 in 2016 and hit 6,200 by the end of June 2017. Almost all of those workers are in Mongolia. The company’s Vancouver head-office staff numbers only about half a dozen. The mine’s estimated copper reserves are 3.4 billion tonnes – and it’s not just high-grade copper coming out of the ground. Rick Rule, president of Sprott U.S. Holdings Inc., has called the Oyu Tolgoi “a very large gold producer in drag” because it is primarily a copper mine that also has a lot of gold. In 2016, copper production was 201,000 tonnes, and gold production was 300,000 ounces. The anticipated peak production is 622,000 tonnes of copper and 650,000 ounces of gold. To put that in perspective, the largest open-pit copper mine in Canada – the Highland Valley mine near Princeton, B.C. – produced
Submitted
152,000 tonnes of copper and molybdenum in 2015. Oyu Tolgoi not only has high grades of copper and gold, but is also just 80 kilometres from the border with China, which accounts for 50% of global copper consumption. The property was discovered in the early 1990s, when Mongolia had just shaken off communism and moved to a market economy. Friedland acquired it in 2001, and Rio Tinto became a major partner. In 2012, Rio Tinto raised its stake to 50%, and Turquoise Hill was hived off from Ivanhoe with the express purpose of building and operating the Oyu Tolgoi mine. Friedland is no longer involved in the company but remains one of the top 10 shareholders. Rio Tinto has no direct ownersh ip i n O y u Tolgoi. It ow ns 50.8% of Turquoise Hill. Turquoise Hill owns 66% of the Oyu Tolgoi mine, and the Mongolian government owns 34%. The company spent $6.2 billion on the first phase of the project, building the open-pit mine, concentrator and associated infrastructure. “Backing up to construction, when we sta r ted, there was nothing in the south Gobi,” Tygesen said. “We had to build the infrastructure. There was no paved road to the border.” The open-pit mine went into production in 2013. Last year, work began on the mine’s $5.3 billion second phase. The new underground mine is slated for commissioning in 2020 and full production in early 2027. “When we get to 2025, Oyu Tolgoi will be the third-largest copper mine in the world,” Tygesen said. •
Fastest 100
BUSINESSVANCOUVER august 22–28, 2017
B5
Restaurant, saloon success stems from staff selection HOSPITALITY | Joseph
Richard’s 19 establishments include pubs, steak houses and liquor stores
By Glen Korstrom gkorstrom@biv.com
W
hile many pub and restaurant owners find it a big enough challenge to successfully run one establishment, several Vancouver companies have found a winning formula capable of helping them expand to many establishments as well as liquor stores. Longtime stalwarts in that space include Blueprint and the Donnelly Group, but the fastestgrowing pub and restaurant venture in the past five years in B.C. is Joseph Richard Group (JRG) – a venture that started operating in Vancouver in 2010 and has since gained traction in the suburbs and in Alberta. JRG increased revenue 234% to more than $34.4 million between 2012 and 2016. It now operates six pubs (Micky’s Irish Public House, the Henry Public House, Edith + Arthur Public House, Oceanside Yacht Club & Public House, Oak & Thorne Public House and the Buck & Ear Bar and Grill) as well as seven pubs branded Townhall Public House and three steak and lobster houses branded S+L Kitchen & Bar. It also operates three private liquor stores. Plans include expanding and separating out an internal catering operation as well as opening a restaurant named Sudo Asian Kitchen and another called That Italian Spot. Opening a high-end restaurant that ranks among the country’s finest is also on principal Ryan Moreno’s agenda. Moreno told Business in Vancouver that once that is complete, the company could focus on franchising its Townhall Public House brand and then potentially franchising its S+L Kitchen & Bar brand. Financing for this expansion has come not on ly f rom the company’s two main principals, Moreno and André Bourque, but also from about half a dozen other investors who own various percentages of different
Ryan Moreno launched hospitality ventures on his own before officially forming Joseph Richard Group with André Bourque in 2010 |
Everybody will tell you that it’s all about your people and in our case it has been. That’s both hiring the right people and giving them opportunity. The better people you have, the better you can grow your business
[] Ryan Moreno Principal, Joseph Richard Group
establ ish ments. T he Joseph R ic h a rd bra n d c om e s f rom Bourque’s m iddle name, Joseph, and Moreno’s middle name, Richard. The duo have also raised capital from selling nightclubs branded Joseph Richard, Vanilla Room and Motel. “Everybody will tell you that it’s all about your people and in our case it has been,” Moreno said. “That’s both hiring the right people and giving them opportunity. The better people you have, the better you can grow your business.” As the organization expands, Moreno believes its venues will become even more desirable as places to work because there will be such a diversity of jobs. “If you look at the portfolio of the company, you have the top of the line, chef-driven restaurant, where you have the opportunity to be a sommelier or a maître d’, or you could work at the pubs
and have a different experience, in a place where there is music trivia, bingo and karaoke,” he said. “There will also be restaurants in between – Asian and Italian places.” He credits his company’s diverse range of hospitality businesses as well as its rapid growth for being able to lure some celebrity chefs. Matthew Stowe, who won the Top Chef Canada competition in 2013, joined the company as director of culinary operations late last year. He joined David Jorge, who won MasterChef Canada Season 2 in 2015 and now oversees the Langley S+L Kitchen & Bar location. “These guys saw the opportunity and they liked the opportunity because, for them, it’s the perfect fit,” Moreno said. Moreno met Bourque in elementary school and, after high school, the two founded a bartending school together before
Submitted
separately launching their own ventures. Moreno said one of his first hospitality businesses was Rain Lounge and Grill. “I don’t wish it on my worst enemy but I don’t regret it,” he said of the experience, which left him with some lessons on what to avoid. His biggest insight from that venture was to be aware of what things cost and to make sure not to overpay. Not only did Rain have a lease rate that Moreno now says was way too high on a per-square-foot basis, but it was also a space that was too large, meaning that there was a lot of wasted square footage. “Ma ke su re you get a n appropriate-sized space and keep your operating expenses lean,” he said when asked what advice he has for aspiring pub owners. “Make sure that every decision you make is lean and as trim as it can be.” •
B6
Fastest 100
BUSINESSVANCOUVER august 22–28, 2017
B.C. fintechs eye growth as banking habits change TECHNOLOGY | Financial
technology companies among the fastest growing in the province
Canada Drives co-CEO Cody Green: “in 2014 we had probably about 10 staff. Over the last three years and change, we’ve grown to over 300 staff. We were very fortunate that we landed on something that consumers really wanted” | Rob Kruyt/BIV files By TYLER ORTON TORTON@BIV.COM
T
here’s one simple rule David Gens tries not to forget when leading a financial technology (fintech) company. “Acknowledge the ‘fin’ in the word ‘fintech,’” said the CEO of Vancouver-based Merchant Advance Capital, which specializes in offering small businesses loans and lines of credit over the internet. “Particularly when you’re in the business of providing credit, there’s of course a natural limit to the good credit that can be created in an economy.” Over the last five years, Merchant Advance Capital’s revenue has grown 1,219% to $10 million annually. Gens acknowledged that kind of growth in the fintech space isn’t going to last forever as the market matures.
“There’s still a lot of growth ahead but we [fintech companies] shouldn’t kid ourselves either,” he said. “But there are counterbalancing forces where you’re seeing more large, trusted institutions partnering with fintech, and that’s kind of creating a new growth spurt, allowing fintechs to reach customers they otherwise wouldn’t have reached.” Canada also has a ways to go before the rate at which consumers adopt financial technology slows compared with other markets. Accord i ng to EY’s Fi ntech Adoption Index 2017, 18% of Canadian survey respondents have used two or more fintech services in the last six months. The global average is 33%. It’s still an improvement over previous survey results released in 2015 that showed 8% of Canadians had used two or more fintech services in the previous six months.
Mea nwh i le, the rate of respondents who said they weren’t aware fintechs existed dropped from 49% to 22% between 2015 and 2017. Compared with their global counterparts, Canadian fintechs may have more room to grow w it h i n t hei r ow n dome s t ic markets. At the same time, Vancouverbased Canada Drives has been expanding aggressively beyond the domestic market over the past year. The fintech company, which runs an online platform to help secure financing for vehicles, launched services this year in Australia and the U.K. Co-CEO Cody Green said he expects the company will enter the U.S. market before the end of 2017. “We were able to get traction [in the U.K. and Australia] very quickly just by following the same
A study by professional services firm EY suggests Canadians’ slow adoption of financial technology leaves open the door to continued growth in the fintech sector | shutterstock
blueprint we have in Canada, so we didn’t have to reinvent the wheel in any sense,” said Green, who came up with the idea for easier ways to secure financing while working at a car dealership in Saskatchewan in 2010. “We knew the frustrations of the consumer.” Over the past five years, Canada Drives’ revenue has grown 2,584% to $41.3 million. Green said one of the turning points for growth was when he and co-founder Mike Galpin relocated the company to Vancouver. He cited access to a deeper tech talent pool as one of the reasons why the company has sustained so much recent growth. “In 2014 we had probably about 10 staff,” he said. “Over the last three years and change, we’ve grown to over 300 staff. We were very fortunate that we landed on something that consumers really wanted.” •
You’re seeing more large, trusted institutions partnering with fintech, and that’s kind of creating a new growth spurt, allowing fintechs to reach customers they otherwise wouldn’t have reached
[] David Gens CEO, Merchant Advance Capital
Nominations now open! Business in Vancouver is once again seeking nominations of BC’s most outstanding business women in private or public sector companies. Honourees have risen through the ranks in public and private companies to become senior executives or entrepreneurs. Through corporate board placements they help influence and shape policy at some of Canada’s largest companies. Access the nomination form at biv.com/iwib
Nominations deadline: November 6th, 2017 Gold Sponsor:
General Sponsors:
The timing is perfect. The technology is here. The planet needs it. We’re as ready as we’ll ever be to...
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B8
BUSINESSVANCOUVER august 22–28, 2017
Fastest 100
Veteran Canadian manufacturer enters a new age manufacturing | Acquisition
of Vancouver’s Pressed Metal Products a sign of changing sector
By Tyler Nyquvest news@biv.com
P
art of the uniform of Vancouver police officers is a badge that signifies authority and achievement. Greg Trammell, former coowner of Pressed Metal Products (PMP), feels a sense of pride when he turns on the TV and sees that badge – one of his company’s products – shining on the screen. PMP is a Canadian manufacturing company that has been operating for 88 years in what is known as Vancouver’s Railtown district. It has provided some of Canada’s most important insignia, jewelry, awards and medal products for nearly a century. Recently, after the Trammell family decided it was ready to exit the business, it agreed to sell PMP to Montreal-based Rideau Recognition Solutions Inc. “Being a Canadian craftsman has been really the cornerstone of what we have established,” Trammell said. “When we made the decision to look at divesting of our business property interests, Rideau became the natural go-to.” Rideau Recognition used to provide essentially the same service as PMP, operating solely as a crafter of insignia and manufactured
Pressed Metal Products co-owner Greg Trammell says his company’s acquisition by Montreal-based Rideau Recognition Solutions Inc. will help keep jobs in the country | Tyler Nyquvest
products. The company was the first Canadian manufacturer of the Order of Canada medal, the highest civilian decoration in the country. But the firm took a new direction by embracing internet technology in the ’90s, and, after acquiring Recognition Management Institute, it made a major investment in big data, pioneering the
data-driven approach to employee recognition. “ P M P m a d e g re at q u a l it y products for their clients,” said Rideau Recognition CEO Peter Hart. “Some of these products were used as awards in programs that their clients were managing themselves.” Employee recognition programs have become more commonplace
in today’s digitized world. Many companies manage their own employee recognition programs, then use products like those produced by PMP as awards, but Rideau has consolidated the process. “Rideau offers these clients the opportunity of using our state-ofthe-art software to manage [recognition] programs – for instance, municipalities who order years of service pins and distribute these to employees,” Hart said. “This is a manual process. Our software automatically tracks who is eligible for a pin, arranges to ship it to the manager and provides the manager with how to make effective presentations and other best-practice elements.” But a pin is just one element of a diverse array of rewards given in today’s world. In addition to physical medals and awards, Rideau software tracks employee performance to offer incentives like social recognition, sales and service incentives and recognition points to redeem in points-based reward programs. T he employee recog n it ion software sector has been steadily growing, and Hart already has a solid footing in the market. Rideau’s net annual revenue
exceeds $50 million.Rideau employs roughly 250 at its facility in Montreal. While most of the firm’s manufacturing will continue to happen in Eastern Canada, product development and design will take place at the company’s Vancouver location. Trammell and Hart recognize the importance of the acquisition not just for the company but for the manufacturing sector across Canada. “Increasingly you are seeing more and more work going offshore,” Hart said. “This work takes a lot of skill, craftsmanship and [artisanship] … It is labour intensive. A lot of lower-quality items go to be manufactured offshore. Pressed Metal has always been known as a quality manufacturer, and if you wanted a quality Canadian product, that was the place to go.” And keeping the business in the hands of Canadians proved to be the deciding factor for Trammell once he’d decided to sell the business. “Because [Rideau] is a Canadian manufacturer,” he said, “and we know that the items will still be made in Canada and employing Canadians, that was huge for us because that is what our customers have come to expect.”. •
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Fastest 100
BUSINESSVANCOUVER august 22–28, 2017
B9
Fastest-growing companies in B.C. B.C.
Ranked Percentagegrowth growthin inrevenue revenuebetween between2012 2012 and and 2016 2016 RANKED BY | BY | Percentage Rank '17
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
Company
Top local executive(s)
Ownership
Product/service
Year founded
Worldwide Revenue staff '16/'12 '16/'12 5-year rev growth
Jostle Corp 163 Hastings St W Suite 310, Vancouver V6B 1H5 P: 604-566-9520 F: NP jostle.me Cardiome Pharma Corp 1441 Creekside Dr 6th floor, Vancouver V6J 4S7 P: 604-677-6905 F: 604-677-6915 cardiome.com Precision NanoSystems Inc 655 West Kent Ave N Suite 50, Vancouver V6P 6T7 P: 888-618-0031 F: NP precisionnanosystems.com Canada Drives 555 Burrard St Suite 600, Vancouver V7X 1M8 P: 888-865-6402 F: NP canadadrives.ca Turquoise Hill Resources Ltd 200 Granville St Suite 354, Vancouver V6C 1S4 P: 604-688-5755 F: 604-688-7168 turquoisehill.com Pure Multi-Family REIT LP 925 Georgia St W Suite 910, Vancouver V6C 3L2 P: 604-681-5959 F: 604-681-5969 puremultifamily.com Eco Paving 145 Schoolhouse St Suite 201, Coquitlam V3K 4X8 P: 800-609-5408 F: NP ecopaving.ca CRH Medical Corp 999 Canada Pl Suite 578, Vancouver V6C 3E1 P: 800-660-2153 F: NP crhmedcorp.com Bardel Entertainment Inc 1523 3rd Ave W, Vancouver V6J 1J8 P: 604-669-5589 F: 604-669-9079 bardel.ca
Brad Palmer, CEO and co-founder
Privately held
2009
49 7
William Hunter, president and CEO, Sheila Grant, COO, Jennifer Archibald, CFO James Taylor, CEO, Euan Ramsay, COO
TSX, Nasdaq:COM
A new kind of employee intranet, Jostle’s People Engagement platform engages employees, enables communication and drives workplace culture Cardiovascular drug development company
1992
120 54
Products and expertise in nanoparticle therapeutic delivery for large pharma and academics
2010
35 0
Cody Green, founder and co-CEO, Mike Galpin, co-CEO
Privately held
2010
275 5
Jeffery Tygesen, CEO, Brendan Lane, vice-president, operations and development Stephen Evans, director and CEO, TSX-V:RUFU Samantha Adams, vice-president, Scott Shillington, CFO Bradley Lavigne, president Privately held
1994
2,530 4,069
Merchant Advance Capital 1500 Georgia St W Suite 2000, Vancouver V6G 2Z6 P: 778-870-8418 F: 604-681-0916 merchantadvance.com Traction on Demand 2700 Production Way Suite 500, Burnaby V5A 0C2 P: 604-620-6040 F: NP tractionondemand.com Beanworks Solutions Inc 311 Pender St W Suite 201, Vancouver V6B 1T3 P: 877-959-2326 F: NP beanworks.com Corvus Energy Inc 13155 Delf Pl Suite 220, Richmond V6V 2A2 P: 604-227-0280 F: 604-227-0281 corvusenergy.com Unbounce 401 Georgia St W Suite 400, Vancouver V6B 5A1 P: 604-484-1354 F: NP unbounce.com Peregrine 3131 Production Way, Burnaby V5A 3H1 P: 1-800-956-4326 F: 604-251-3173 peregrine.build Lucara Diamond Corp 885 Georgia St W Suite 2000, Vancouver V6C 3E8 P: 604-689-7842 F: 604-689-4250 lucaradiamond.com Globalme Localization Inc 353 Water St, Vancouver V6B 1B8 P: 855-438-5106 F: NP globalme.net Live Well Exercise Clinic 5511 West Blvd Suite 303, Vancouver V6M 3W6 P: 604-269-3705 F: 604-343-3716 livewellclinic.ca Appnovation Technologies 152 Hastings St W Suite 300, Vancouver V6B 1G8 P: 604-568-0313 F: 604-568-0314 appnovation.com Equicare Health 2020 Yukon St Suite 201, Vancouver V5Y 3N8 P: 604-708-9075 F: 604-687-6942 equicarehealth.com
Sources: Interviews with above companies and BIV research. USD converted to CAD using Bank of Canada's average yearly rate depending on company's fiscal year-end. Companies must have had $50,000 in sales in 2012 and $1 million in 2016 to qualify. NP Not provided 1 - Converted from USD 2 - Includes contractors
Privately held
Financial technology company enabling Canadians to access auto financing and other credit products through an online platform TSX, NYSE, Nasdaq:TRQ International mineral exploration, development and mining
Edward Wright, CEO
TSX:CRH
Delna Bhesania, CEO and co-founder, Barry Ward, president and co-founder, Richard Grieve, senior vice-president, finance and business affairs David Gens, founder and CEO, Esther Chan, CFO, Dean Drysdale, chairman
Privately held
Privately held
Greg Malpass, CEO and founder, Andrew Privately held Buckley, executive vice-president, Corinne Hua, CFO Catherine Dahl, CEO, Karim Ben-Jaafar, Privately held chief growth officer
Offers investors exclusive exposure to attractive 2012 institutional quality U.S. multi-family real estate assets
135 0
Utilizes recycled rubber to pave driveways, patios and pool decks; commercial and residential projects
2010
38 6
Developer of the first patented, single-use, disposable hemorrhoid banding technology; anesthesia management Specializing in animation and creative services for feature films, television and interactive online content
1995
17 NP
1987
640 120
Provides Canada's small businesses with quicker and easier access to working capital
2009
33 2
Salesforce.com and cloud technology implementation 2006 and enhancement services, software development and consulting, marketing automation, big data, force.com development Accounts payable automation software 2012
239 22 44 6
Andrew Morden, CEO
Privately held
Provides high-power energy storage in the form of modular lithium-ion battery systems
2009
52 50
Rick Perreault, co-founder and CEO, Oli Gardner, co-founder and international keynote speaker, Sascha Williams, president and COO Brian French, president
Privately held
Marketing and conversion optimization platform that allows marketers to build, publish and test landing pages and website overlays without a web developer
2009
172 19
Privately held
28 7
Lukas Lundin, chairman and director, William Lamb, president and CEO
TSX:LUC
Offers a complete range of design and manufacturing 1976 services for retail, financial, commercial, corporate and institutional clients Diamond mining and development 2004
Emre Akkas, chief technologist, Hanna Golota, COO
Privately held
Sara Hodson, president and founder, John DeHart, director of franchise sales, Tasha McRae, director of programs and training Arnold Leung, CEO
Privately held
Len Grenier, CEO
Privately held
Privately held
Provides localization, testing and usability evaluation services for apps, websites, speech recognition and wearable devices Provides safe, supervised medical fitness and healthy lifestyle coaching for people with chronic diseases, such as diabetes, heart disease and obesity, or for prevention Global digital solutions and managed services provider delivering strategy, application development and enterprise integration on leading open technologies Provider of comprehensive oncology care co-ordination software that improves clinical outcomes for patients and enables care providers to operate more efficiently
8662 NP
2009
200 2
2011
18 3
2007
212 12
2006
36 21
$4,405,000 $74,000 5,852.7% $33,459,1491 $788,6841 4,142.4% $3,129,789 $81,133 3,757.6% $41,294,333 $1,538,229 2,584.5% $1,594,240,4741 $78,030,7751 1,943.1% $101,233,2671 $6,068,3371 1,568.2% $3,408,719 $219,687 1,451.6% $103,804,2161 $6,825,8701 1,420.7% $27,838,129 $1,871,638 1,387.4% $10,064,368 $762,840 1,219.3% $33,517,529 $2,687,000 1,147.4% $1,200,000 $100,000 1,100% $11,338,092 $1,001,000 1,032.7% $20,305,468 $1,793,208 1,032.4% $8,670,428 $883,058 881.9% $391,433,3571 $41,616,6671 840.6% $3,812,000 $484,763 686.4% $1,113,138 $159,909 596.1% $35,770,581 $5,500,000 550.4% $5,040,0001 $798,7341 531%
Business in Vancouver makes every attempt to publish accurate information in the List, but accuracy cannot be guaranteed. Researched by Carrie Schmidt, lists@biv.com.
B10
BUSINESSVANCOUVER august 22–28, 2017
Fastest 100
B.C. fuel cell company on board for federal tech push TECHNOLOGY | Government
announces $25 million in funding for western Canadian innovation
By Sean Yoon syoon@biv.com
A
Vancouver-based compa ny is h igh l ighti ng a federal effort to boost innovation, reduce pollution at West Coast ports and diversify Western Canada’s economy. In a joint press conference held August 3 in Burnaby, Navdeep Bains, minister of innovation, science and economic development, announced $25 million in funding for Western Economic Diversification Canada (WD), an agency promoting business development, innovation and diversification of Western Canada’s economy. At the same time, Vancouver hydrogen fuel cell company Loop Energy announced that its new system to extend the range of fuelcell-powered heavy-duty yard trucks typically used in ports and distribution centres has become operational. Loop received $760,000 of $14.8 million in federal funding for B.C. companies announced last March. It previously was granted $7.5 million by the government to deploy its new fuel cell module, which acts as an on-board power generator to charge batteries and capture energy through regenerative braking, allowing for
The federal government is pointing to Loop Energy’s fuel cell improvements for heavy-duty trucks as the kind of innovation it wants to promote in Western Canada | Submitted
extended range and faster refuelling. The development was aimed at addressing the limitations of battery-electric trucks for shortand regional-haul freight markets while providing an economically viable replacement for diesel
engines. “As the ports of Los Angeles and Long Beach, and others around the world, strive to eliminate polluting diesel trucks from the movement of goods, Loop is ready to help clean the air,” said Loop
Energy president and CEO Ben Nyland. Nyland said yard trucks powered by the new module have “the potential to substantially reduce emissions from port operations while achieving cost targets
demanded by trucking operators, without subsidies.” The Loop Energy announcement highlights a new federal emphasis on technology in economic development, in which regional agencies across the country, including W D, will focus on strengthening innovation capacity by supporting small and medium-sized businesses in adopting new technology; nominating 50 firms across the country to participate in a program aimed at helping them expand; investing $100 million annually in clean technology; and supporting 250 Indigenous economic diversification projects. “There is no one-size-fits-all approach to diversifying the economy as each region has their own unique advantages,” Bains said. “By providing departments like Western Economic Diversification Canada with the tools and funding to do their job, we are working towards building a stronger, more innovative and inclusive economy.” In 2015, Western Canada contributed 38% of Canada’s real economic output, and since November 2015, WD-funded projects have generated 8,200 jobs, approximately 3,400 of which are in B.C. •
Top 100 FasTesT GrowinG Companies reCepTion Join us for a fantastic opportunity to meet and mingle with some of B.C.’s fastest-growing companies when Business in Vancouver presents the 2017 Top 100 Fastest Growing Companies Reception. This networking reception highlights the achievements of companies across B.C. that have shown remarkable growth over the past five years. october 11, 2017 | 6:00 p.m. - 8:00 p.m. | Telus Garden -GO2PRODUCTIONS 5th Floor | Vancouver, BC make it great ®
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Fastest 100
BUSINESSVANCOUVER august 22–28, 2017
B11
Fastest-growing companies in B.C. B.C.
Ranked Percentagegrowth growthin inrevenue revenuebetween between2012 2012 and and 2016 2016 RANKED BY | BY | Percentage Rank '17
21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40
Company
Top local executive(s)
Ownership
Product/service
Year founded
Worldwide Revenue staff '16/'12 '16/'12 5-year rev growth
Advisor Websites 1177 Hastings St W Suite 1812, Vancouver V6E 2K3 P: 866-638-0273 F: NP advisorwebsites.com Kimbo Design Inc 409 Granville St Suite 1251, Vancouver V6C 1T2 P: 604-738-6448 F: 604-738-6468 kimbodesign.ca Venue Kings Ticket Brokers Inc 315 1st St W Suite 102, North Vancouver V7M 1B5 P: 604-283-2287 F: 604-973-0141 venuekings.com Copperleaf 2920 Virtual Way Suite 140, Vancouver V5M 0C4 P: 604-639-9700 F: 604-639-9699 copperleaf.com
Loic Jeanjean, vice-president, growth, Alex Wingert, vice-president, product
Privately held
Website and marketing software for the financial and insurance industries
2012
39 15
Kim Pickett, principal and creative director
Privately held
Branding and design, integrated communications and marketing for web and print
2001
12 5
Robyn Wilson, COO, Anthony Beyrouti, president, CEO and founder
Privately held
2009
23 15
2000
99 32
Kelso Technologies Inc 13966 18B Ave, Surrey V4A 8J1 P: 604-590-1525 F: NP kelsotech.com Avigilon Corp 555 Robson St, Vancouver V6B 1A6 P: 604-629-5182 F: 604-629-5183 avigilon.com
James (Rik) Bond, president and CEO, TSX, NYSE:KLS Anthony Andrukaitis, COO, Richard Lee, CFO Alexander Fernandes, founder, TSX:AVO president, CEO and chairman of the board
1987
NP NP
2004
1,159 255
Csek Creative 1685 Pandosy St, Kelowna V1Y 1R1 P: 250-862-8010 F: 250-862-8069 csekcreative.com Wall Financial Corp 1088 Burrard St Suite 3502, Vancouver V6Z 2R9 P: 604-893-7131 F: 604-893-7179 BioLytical Laboratories Inc 13351 Commerce Pky Suite 1108, Richmond V6V 2X7 P: 604-204-6784 F: 604-244 8399 biolytical.com Pure Industrial Real Estate Trust (PIRET) 925 Georgia St W Suite 910, Vancouver V6C 3L2 P: 604-398-2836 F: 604-681-5969 piret.ca B2Gold Corp 595 Burrard St Suite 3100, Vancouver V7X 1J1 P: 604-681-8371 F: 604-681-6209 b2gold.com Joseph Richard Group 8410 160 St, Surrey V3S 3T8 P: 778-999-7427 F: NP jrg.ca Pacific Insight Electronics Corp 1155 Insight Dr, Nelson V1L 5P5 P: 800-995-1155 F: NP pacificinsight.com The Lazy Gourmet 1605 5th Ave W, Vancouver V6J 1N5 P: 604-734-2507 F: NP lazygourmet.ca Spark Business Services Group Inc 701 Georgia St W Suite 1500, Vancouver V7Y 1C6 P: 604-568-6661 F: NP sparkgroupinc.com
Nikki Csek, CEO, Ryan Lahay, principal, Privately held Jim Csek, CFO and COO, Rob Cupello, vicepresident, business development Bruno Wall, president TSX:WFC
One of the largest online ticket broker agencies in the U.S. and Canada, specializing in inventory to events across North America Provides decision analytics to companies managing critical infrastructure; its software solutions leverage operational and financial data to help clients make investment decisions Design, engineering and sales of patented technologies in the North American railway equipment supply industry Provides security solutions to the global market; designs, develops and manufactures video analytics, network video management software and hardware, surveillance cameras and access control solutions A full-service agency combined with a local media platform
1999
35 8
Real estate
1969
NP NP
INSTI, the world's fastest human immunodeficiency 2002 virus (HIV) test, provides accurate results in less than 60 seconds and is sold in 59 countries globally Acquires, owns and operates a diversified portfolio of 2007 income-producing industrial properties across Canada and the U.S. Gold mining 2006
55 43
Specializes in public houses, casual-upscale restaurants and liquor stores; expanding to include other ventures Electronic and LED design and manufacturing for the automotive and commercial vehicle industries
2009
800 300
1989
1,000 400
Privately held
Caterers
1978
160 30
Privately held
Provides niche HR services: payroll/benefits 2011 administration, probation reviews, performance management and on-site support; specializes in sales/ marketing roles, temporary, permanent and temp-toperm Provides product realization services to customers 1992 building intelligent connected devices
45 28
Judi Hess, CEO, Boudewijn Neijens, chief Privately held marketing officer
Robert Mackie, president and chairman, Livleen Veslemes, COO and CFO
Privately held
Kevan Gorrie, president and CEO, Teresa TSX:AAR.UN Neto, CFO
50 17 4,1303 3,003
Clive Johnson, senior vice-president, operations
TSX:BTO
Ryan Moreno, CEO and principal, André Bourque, principal
Privately held
J. Cowan McKinney, chair, board of directors, Stuart Ross, CEO, Ian Scott, COO, Jonathan Fogg, CFO Susan Mendelson, president, Shannon Boudreau, director of sales and events, Kevin Mazzone, general manager Heidi Van Roon, founder and CEO
TSX:PIH
Intrinsyc Technologies Corp 885 Dunsmuir St Suite 300, Vancouver V6C 1N5 P: 604-801-6461 F: 604-801-6417 intrinsyc.com Photon Control Inc 13500 Verdun Pl Suite 130, Richmond V6V 1V2 P: 604-422-8861 F: 604-422-8418 photon-control.com ABM Applied Biological Materials Inc 3671 Viking Way Unit 1, Richmond V6V 2J5 P: 604-247-2416 F: 604-247-2414 abmgood.com
Tracy Rees, president and CEO, George Reznik, CFO and corporate secretary
TSX:ITC
Scott Edmonds, president and CEO
TSX-V:PHO
Measurement technologies company
1988
52 32
Peter Li, CEO, Lisa Young, CFO, Vivian Gao, vice-president, corporation development
Privately held
150 57
Miller Titerle Law Corp 209 Carrall St Suite 215, Vancouver V6B 2J2 P: 604-681-4112 F: 604-681-4113 millertiterle.com Nero Global Tracking 2700 Production Way, Burnaby V5A 2X1 P: 778-355-9545 F: NP neroglobal.com
Robert Miller, Jim Titerle, co-founders
Privately held
Biotechnology, life science research reagent and 2004 services, next-generation sequencing, CRISPR, polymerase chain reaction (PCR) and quantitative PCR, growth factors, cell lines Corporate/commercial law firm 2009
Lindsay Ryerson, general manager
Privately held
Global positioning system vehicle tracking
Sources: Interviews with above companies and BIV research. USD converted to CAD using Bank of Canada's average yearly rate depending on company's fiscal year-end. Companies must have had $50,000 in sales in 2012 and $1 million in 2016 to qualify. NP Not provided 1 - Converted from USD 2 - For year ending January 31 of the following year 3 - Includes contractors
2003
79 39
27 7 25 10
$2,813,042 $467,271 502% $4,098,542 $760,615 438.8% $64,986,664 $12,536,472 418.4% $13,163,370 $2,647,252 397.2% $10,700,5991 $2,233,807 379% $468,478,4261 $100,262,000 367.3% $3,040,880 $692,823 338.9% $302,815,9002 $71,312,5132 324.6% $11,200,000 $2,900,000 286.2% $186,943,000 $52,340,000 257.2% $905,226,5661 $258,947,3801 249.6% $34,458,935 $10,305,630 234.4% $127,200,000 $38,569,353 229.8% $7,900,000 $2,400,000 229.2% $1,640,913 $520,162 215.5% $23,136,7601 $7,498,3131 208.6% $32,171,996 $10,500,279 206.4% $6,496,252 $2,147,670 202.5% $5,488,655 $1,973,102 178.2% $5,500,000 $2,000,000 175%
Business in Vancouver makes every attempt to publish accurate information in the List, but accuracy cannot be guaranteed. Researched by Carrie Schmidt, lists@biv.com.
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B12
FAstest 100
BUSINESSVANCOUVER august 22–28, 2017
Recycled rubber paves way for company’s rapid growth CONSTRUCTION | Coquitlam’s
Eco Paving raises its revenue by 1,452% over five years
By Sean Yoon
That’s the challenge of our business, because typically we don’t get a lot of repeat customers
syoon@biv.com
C
oquitlam-based Eco Paving is finding rapid success by helping pioneer the use of recycled-rubber paving material in the Lower Mainland. Previously an interior design student at the British Columbia Institute of Technology, Eco Paving founder Bradley Lavigne launched his company in 2010 after leaving school a year earlier. The company uses recycled tire rubber from a local factory mixed with a binding agent to pave over commercial and residential surfaces such as driveways, patios, pool decks and playgrounds. Ranking seventh on Business in Vancouver’s list of the top 100 fastest-growing companies in B.C., Eco Paving posted revenue growth from $219,687 in 2012 to $3,408,719 in 2016 – a 1,452% increase. It has 38 employees. Lavigne said that besides the company’s digital marketing efforts, the main reason for its rapid growth was its dedicated staff. “We definitely have better people,” he said. “We definitely work harder at improving ourselves constantly, which is kind of why we’ve separated from the pack.”
[] Bradley Lavigne Founder, Eco Paving
CEO Bradley Lavigne’s company, Eco Paving, is planning to expand as a franchise next year |
The company’s recycled paving material is non-slip and resistant to ice buildup – solid selling points in a rain-prone city like Vancouver. Aside from being resistant to harsh weather, the main advantage to rubber paving is that the material can be laid down over existing concrete or asphalt without
having to first tear up the pavement – allowing customers to save time and money, according to Lavigne. After it’s installed, rubber pavement is also crack-resistant and easy to maintain, he said, with customers rarely having to request servicing. “Typically, if there isn’t really
&&&
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any issue, we generally don’t have to talk to them for about six or seven years,” Lavigne said. “You’d have to do a lot more resealing [with asphalt], whereas ours, you don’t really have to as much.” The main challenge faced by rubber paving companies is that because the installations are so long-lasting, there are few repeat
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customers. One reason the company might have edged out its competitors is that it has secured a larger market share by being an early pioneer of rubber paving in Vancouver. Lavigne said it was the second company to offer the service in the area. “That’s the challenge of our business, because typically we don’t get a lot of repeat customers,… so we have to be really good at sales and marketing to be able to facilitate the growth – and, obviously, operations and administration.” While the company services the entire Lower Mainland, it is particularly popular in Coquitlam and Maple Ridge for residential driveways, he said. Eco Paving is planning to expand as a chain next year by offering franchises to operators in other Canadian cities. •
Ron Batty
Partner, Private Enterprise Services, MNP
SponSored
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Senior VP, Mackie Research Capital Corporation
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Fastest 100
BUSINESSVANCOUVER august 22–28, 2017
B13
Fastest-growing companies in B.C. B.C.
Ranked Percentagegrowth growthin inrevenue revenuebetween between2012 2012 and and 2016 2016 RANKED BY | BY | Percentage Rank '17
Company
Top local executive(s)
Ownership
Product/service
Alliance Truss Ltd 890 Riverside Rd, Abbotsford V2S 7P6 P: 604-574-3525 F: 604-574-0519 alliancetruss.com Silver Standard Resources Inc 1055 Dunsmuir St Suite 800, Vancouver V7X 1G4 P: 604-689-3846 F: 604-689-3847 silverstandard.com WiderFunnel Marketing Inc 333 Seymour St Suite 1480, Vancouver V6B 5A6 P: 604-800-6450 F: NP widerfunnel.com
Kevin Mindel, operation director, Lorne Derksen, president, Alliance Group
Privately held
170 125
Paul Benson, president and CEO
TSX:SSO; Nasdaq:SSRI
Manufacturer of wooden roof trusses, heavy timber 1977 construction, prefab wall panels, framing, engineering and transport of finished goods Operation, development, exploration and acquisition of 1946 precious-metal projects
Chris Goward, founder and CEO
Privately held
27 12
Tekskil Industries Inc 998 Harbourside Dr Suite 102, North Vancouver V7P 3T2 P: 604-985-2250 F: 877-576-8361 tekskil.com Go2 Productions Inc 343 Railway St Suite 420, Vancouver V6A 1A4 P: 604-408-5844 F: NP go2productions.com
Rick Anselmo, operations manager/ director
Privately held
Conversion optimization and growth marketing 2007 services for high-traffic brands; uses UX and UI design, user testing, marketing psychology, full-service A/B testing and behavioural personalization On-camera, PTZ and speech teleprompters; talent 1981 cueing products
Adrian Scott, president and executive creative director
Privately held
Ballard Power Systems Inc 9000 Glenlyon Pky, Burnaby V5J 5J8 P: 604-454-0900 F: 604-412-4700 ballard.com Sentis Market Research 543 Granville St, 6th floor, Vancouver V6C 1X8 P: 604-558-1314 F: 604-558-1315 sentisresearch.com
Randall MacEwen, president and CEO
TSX, Nasdaq:BLD
Agreement Express 609 Granville St Suite 800, Vancouver V7Y 1G5 P: 604-699-3045 F: 604-736-7110 agreementexpress.com iQmetrix 250 Howe St Suite 1210, Vancouver V6C 3R8 P: 866-476-3874 F: 604-568-0462 iqmetrix.com Nanotech Security Corp 3292 Production Way Suite 505, Burnaby V5A 4R4 P: 604-678-5775 F: 604-678-5780 nanosecurity.ca
Mike Gardner, CEO
Carmanah Technologies Corp 250 Bay St, Victoria V9A 3K5 P: 250-380-0052 F: 250-380-0062 carmanah.com QMC Metering Solutions 573 Sherling Pl Suite 1105, Port Coquitlam V3B 0J6 P: 604-526-5155 F: 604-526-7667 qmeters.com MacDonald, Dettwiler and Associates Ltd 200 Burrard St Suite 1570, Vancouver V6C 3L6 P: 604-974-5275 F: 604-974-5807 mdacorporation.com Lasso Data Systems Inc 13351 Commere Pky Suite 1373, Richmond V6V 3A1 P: 604-214-8555 F: 604-214-8556 lassocrm.com Global Relay 220 Cambie St, 2nd floor, Vancouver V6B 2M9 P: 604-484-6630 F: 604-608-2941 globalrelay.com Advance Lumber & Pallet Ltd 12184 Old Yale Rd, Surrey V3V 3X5 P: 604-580-4918 F: 604-580-4998 theadvancegroup.net Capstone Mining Corp 510 Georgia St W Suite 2100, Vancouver V6B 0M3 P: 604-684-8894 F: 604-688-2180 capstonemining.com Acro Media Inc 2303 Leckie Rd Suite 103, Kelowna V1X 6Y5 P: 877-763-8844 F: 250-763-6936 acromediainc.com Lululemon Athletica Inc 1818 Cornwall Ave Suite 400, Vancouver V6J 1C7 P: 604-732-6124 F: 604-874-6124 lululemon.com Happier IT 15670 Columbia Ave, White Rock V4B 1L1 P: 604-542-0616 F: 604-542-6438 happierit.com
John Simmons, CEO, Evan Brown, CFO and corporate secretary
TSX:CMH
James Easton, CEO
Privately held
Howard Lance, president and CEO
TSX:MDA
Jerry Bauer, president
Privately held
Shannon Rogers, president and general counsel, Warren Roy, CEO and founder
Privately held
41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60
Year founded
1,3811 1,480
1 NP
2007
15 NP
1979
NP 331
Research and consulting services for customer 2011 retention and acquisition; employee engagement and motivation; custom-built interactive reporting websites provide access to data in real time Provides onboarding automation software for financial 2001 services
42 18
Christopher Krywulak, president and CEO Privately held
Provider of retail management and interactive retail solutions
1999
376 220
Doug Blakeway, chairman and CEO, Troy TSX-V:NTS Bullock, president and CFO
Development of nanotechnology for use in anticounterfeiting; tracking and intelligence-gathering support technology for use in covert operations and surveillance Produces a portfolio of products focused on energyoptimized LED and solar technologies
1984
44 27
1996
153 NP
Supplies integrated sub-metering solutions for utillities in multi-tenant properties and hosts a web-based platform for billing and energy management Global communications and information company providing operational solutions to commercial and government organizations worldwide Customer relationship management (CRM) software for homebuilders, real estate developers and sales and marketing companies Cloud archiving and information governance solutions for the global financial sector and other highly regulated industries Lumber and lumber products related to the pallet industry; new and used pallets and wooden shipping materials; pallet repairs and refurbishing Metals and mining
1994
34 13
1969
4,800 2,300
2005
26 18
1999
386 195
1995
80 35
2003
1,7191 1,328
Software development agency specializing in Drupal Commerce
1998
44 21
1998
10,321 6,383
Adam DiPaula, managing partner, Julie Privately held Winram, managing partner, Mubashshir Zakir, vice-president, IT and data solutions Privately held
Rajinder Brar, president, Jaspinder Brar, Privately held vice-president Darren Pylot, president and CEO, D. TSX:CS James Slattery, senior vice-president and CFO Shae Inglis, CEO Privately held
High-impact content design and production; 3D projection mapping, modelling and animation; experiential/immersive activations, event design and management, commercial and corporate video production Development, manufacture, sale and servicing of clean-energy hydrogen fuel cells
Worldwide Revenue staff '16/'12 '16/'12 5-year rev growth
Laurent Potdevin, CEO
Nasdaq:LULU
Designer and retailer of technical athletic apparel
Lee Van Iderstine, Robin Hiet-Block, owners
Privately held
Eliminates the burden of IT for organizations with 15 to 1996 500 employees through proactive leadership and unlimited IT support
Sources: Interviews with above companies and BIV research. USD converted to CAD using Bank of Canada's average yearly rate depending on company's fiscal year-end. Companies must have had $50,000 in sales in 2012 and $1 million in 2016 to qualify. NP Not provided 1 - Includes contractors 2 - Converted from USD
52 25
35 20
$46,000,000 $17,000,000 170.6% $650,458,2532 $241,023,5522 169.9% $3,227,453 $1,203,142 168.3% $2,500,000 $940,000 166% $3,108,000 $1,200,000 159% $112,965,6962 $43,672,5242 158.7% $2,697,254 $1,057,570 155% $8,000,000 $3,141,369 154.7% $181,226,769 $73,000,000 148.3% $5,126,109 $2,083,598 146% $63,248,6022 $26,431,4232 139.3% $8,700,000 $3,700,000 135.1% $2,063,783,000 $879,929,000 134.5% $4,856,994 $2,077,902 133.7% $69,000,000 $30,000,000 130% $15,079,416 $6,558,626 129.9% $701,351,7702 $305,392,7942 129.7% $4,954,174 $2,185,966 126.6% $3,087,329,8252 $1,371,591,3222 125.1% $3,861,000 $1,734,060 122.7%
Business in Vancouver makes every attempt to publish accurate information in the List, but accuracy cannot be guaranteed. Researched by Carrie Schmidt, lists@biv.com.
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B14
BUSINESSVANCOUVER august 22–28, 2017
Fastest 100
Fastest-growing companies in B.C. B.C.
Ranked BY | Percentagegrowth growthin inrevenue revenuebetween between2012 2012 and and 2016 2016 RANKED BY | Percentage Rank '17
61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80
Company
Top local executive(s)
Ownership
Product/service
Year founded
General Credit Services Inc 1201 Pender St W Suite 400, Vancouver V6E 2V2 P: 604-688-6097 F: 604-688-6017 generalcreditservices.com Imperial Metals Corp 580 Hornby St Suite 200, Vancouver V6C 3B6 P: 604-669-8959 F: NP imperialmetals.com Interfor Corp 1055 Dunsmuir St Suite 3500, Vancouver V7X 1H7 P: 604-689-6800 F: 604-689-6825 interfor.com Ideon Packaging 11251 Dyke Rd, Richmond V7A 0A1 P: 604-524-0524 F: NP ideonpackaging.com SST Wireless Inc 11120 Horseshoe Way Suite 150, Richmond V7A 4V5 P: 604-946-0173 F: 604-946-0173 sstwireless.com Sierra Wireless Inc 13811 Wireless Way, Richmond V6V 3A4 P: 604-231-1100 F: 604-231-1109 sierrawireless.com Microserve 4295 Dawson St, Burnaby V5C 4B3 P: 604-473-9883 F: 604-473-9887 microserve.ca Valley Carriers Ltd PO Box 8000-544, Abbotsford V2S 6H1 P: 604-853-1075 F: 604-853-1091 valleycarriers.com Madison Pacific Properties Inc 389 6th Ave W, Vancouver V5Y 1L1 P: 604-732-6540 F: NP madisonpacific.ca RSI International Systems Inc 134 Abbott St Suite 402 , Vancouver V6B 2K4 P: 604-914-3722 F: 604-984-6006 roomkeypms.com Lions Gate Entertainment Corp 250 Howe St 20th floor, Vancouver V6C 3R8 P: 877-848-3866 F: NP lionsgate.com Premium Brands Holdings Corp 10991 Shellbridge Way Suite 100, Richmond V6X 3C6 P: 604-656-3100 F: 604-656-3170 premiumbrandsholdings.com LMI Technologies 9200 Glenlyon Pky, Burnaby V5J 5J8 P: 604-636-1011 F: 604-516-8368 lmi3d.com Kasa Supply Ltd 13237 King George Hwy, Surrey V3T 2T3 P: 604-581-5815 F: 604-637-2999 kasamechanical.com Stemcell Technologies Inc 1618 Station St, Vancouver V6A 1B6 P: 604-877-0713 F: 800-567-2899 stemcell.com Mills Office Productivity 1111 Clark Dr, Vancouver V5L 3K5 P: 604-254-7211 F: 604-254-7484 mills.ca Conifex Timber Inc 700 Georgia St W Suite 980, Vancouver V7Y 1B6 P: 604-216-2949 F: NP conifex.com Metropolitan (MET) Fine Printers 1435 Pender St E, Vancouver V5L 1V7 P: 604-254-4201 F: 604-254-5175 metprinters.com Polaris Materials Corp 1055 Georgia St W Suite 2740, Vancouver V6E 3R5 P: 604-915-5000 F: 604-915-5001 polarismaterials.com AnalysisWorks 1234 6th Ave W, Vancouver V6H 1A5 P: 604-739-7363 F: 604-739-7364 analysisworks.com
Peter Sorrentino, president and CEO, Heidi Roszmann, chief administrative officer Brian Kynoch, president, Andre Deepwell, CFO and corporate secretary
Privately held
Provides complete accounts receivable management 2002 solutions and business processing outsourcing services
81 60
TSX:III
Base- and precious-metal exploration, development and operation
800 40
Duncan Davies, president and CEO
TSX:IFP
Rick Van Poele, president, CEO and partner
Privately held
Manufacturer of commodity structural lumber, 1963 machine stress-rated products, industrial lumber and timbers and appearance lumber Manufacturer of digital point-of-purchase displays and 2002 custom corrugated solutions
Christopher Chong, president and CEO
Privately held
Jason Cohenour, president and CEO
TSX:SW
Spud Matthews, president
2001
Worldwide Revenue staff '16/'12 '16/'12 5-year rev growth
2,856 1,545 100 53
Designs, develops and manufactures industrial 2006 wireless sensors, gateways and applications for use in heavy-duty vehicles and equipment Hardware, software and services for connected devices 1993
13 4
Privately held
Information technology solutions and services specializing in cloud, managed IT and IT staffing
1987
251 212
Travis Klassen, CEO, Erin Parkes, CFO
Privately held
Transportation and supply of wood residuals
1963
80 35
Marvin Haasen, president and CEO
TSX:MPC
Property management and ownership
1998
NP NP
Charles Ku, president and CEO
TSX-V:RSY
1978
42 19
Jon Feltheimer, CEO, Michael Burns, vice-chair
NYSE:LGF
RoomKeyPMS is a user-friendly, cloud-based property and guest management system that provides robust management reporting and guest insight Movie and television production and distribution
1997
NP 636
George Paleologou, president and CEO, Will Kalutycz, CFO
TSX:PBH
Specialty food manufacturing and differentiated food distribution
2009
5,214 2,700
Terry Arden, CEO
Privately held
Precision 3D scanning and inspection solutions
1978
174 81
Sarbjeet Sahota, president and CEO
Privately held
2007
36 14
Allen Eaves, president and CEO
Privately held
1993
846 521
Brad Mills, CEO
Privately held
1949
200 88
Ken Shields, board chair, CEO and president, Yuri Lewis, CFO
TSX:CFF
Distributor of plumbing, drainage, waterworks, electrical and landscape products for residential, commercial and industrial projects Cell separation, culture media, instruments, antibodies, cytokines, small molecules, education and contract assay services Family-owned and -operated supplier of stationery, furniture, printing services, janitorial and education products Dimension lumber, wood chips and other residuals
2007
582 550
Nikos Kallas, president
Privately held
Commercial printing and letterpress
1977
NP NP
Ken Palko, president and CEO, Darren McDonald, vice-president, finance, CFO and corporate secretary Jason Goto, president
TSX:PLS
Vancouver-based producer of construction aggregates 1999 for sale to customers on the West Coast of North America Helps organizations use advanced analytics combined 2000 with human factors to make breakthrough improvements in efficiency
Privately held
Sources: Interviews with above companies and BIV research. USD converted to CAD using Bank of Canada's average yearly rate depending on company's fiscal year-end. Companies must have had $50,000 in sales in 2012 and $1 million in 2016 to qualify. NP Not provided 1 - Converted from USD
Essential guide to
meeting & event planning in British Columbia
1,089 900
61 58 18 12
$5,676,931 $2,569,887 120.9% $428,218,000 $199,373,000 114.8% $1,792,712,000 $849,196,000 111.1% $29,752,000 $14,159,000 110.1% $1,486,965 $716,000 107.7% $815,556,1541 $396,924,0001 105.5% $90,681,531 $45,308,877 100.1% $15,086,024 $7,546,828 99.9% $30,270,000 $15,366,000 97% $4,982,079 $2,556,762 94.9% $3,080,283,2121 $1,586,943,9681 94.1% $1,857,500,000 $960,129,000 93.5% $42,400,000 $22,000,000 92.7% $14,012,303 $7,289,936 92.2% $126,891,000 $66,418,000 91% $38,000,000 $20,000,000 90% $409,307,700 $217,590,000 88.1% $28,000,000 $15,000,000 86.7% $59,924,6781 $32,183,1221 86.2% $2,610,000 $1,448,200 80.2%
Business in Vancouver makes every attempt to publish accurate information in the List, but accuracy cannot be guaranteed. Researched by Carrie Schmidt, lists@biv.com.
Meeting Places is your ultimate resource for conducting your best event. Distributed to all Business in Vancouver subscribers and to the Greater Vancouver Board of Trade Membership. Advertising Close Date: September 25, 2017 Contact Marie at 604-608-5158 or mpearsall@biv.com
biv.com/publications
Fastest 100
BUSINESSVANCOUVER august 22–28, 2017
B15
Fastest-growing companies in B.C. B.C.
Ranked Percentagegrowth growthin inrevenue revenuebetween between2012 2012 and and 2016 2016 RANKED BY | BY | Percentage Rank '17
81 82 83
Company
Top local executive(s)
Ownership
Product/service
Year founded
Worldwide Revenue staff '16/'12 '16/'12 5-year rev growth
Haebler Group 46 3rd Ave E, Vancouver V5T 1C3 P: 604-874-0777 F: 604-874-0841 haeblerconstruction.com TIO Networks Corp 250 Howe St Suite 1550, Vancouver V6C 3R8 P: 416-523-7086 F: NP tionetworks.com Sussex Insurance Agency1 136 3rd St W Upper Level, North Vancouver V7M 1E8 P: 604-983-6955 F: 604-983-6933 sussexinsurance.com
Roland Haebler, president
Privately held
Commercial, residential and institutional construction
1959
28 NP
Hamed Shahbazi, founder and CEO
TSX-V:TNC
Cloud-based multi-channel bill payment processor
1997
NP 62
Ken Armstrong, president and CEO, Brandon Armstrong, vice-president, strategic planning, Jason Armstrong, vice-president, corporate development Ravi Saligram, CEO
Privately held
Provides comprehensive and efficient insurance services
1976
468 335
TSX, NYSE:RBA
Industrial auctioneers; services and information to help 1958 people buy and sell used heavy equipment
1,590 1,589
James Morris, principal
Privately held
Digital agency of adventure, connecting people with adventure brands, experiences and destinations
2006
16 8
Kelly Shannon, president, Marvin Kale, vice-president
Privately held
1984
50 41
Ashley Cooper, CEO, Ted Reid, president and CFO, Fraser Cooper, CTO
Privately held
1976
8,250 5,635
Stacey Cerniuk, president and CEO
Privately held
1998
287 160
Jack Benne, CEO, John Hoekstra, CFO, Leo Benne, president and general manager Scott Forbes, president and CEO, Max Liszkowski, CFO
TSX-V:BVO
General building contractors/construction managers focusing on new construction and renovation; sectors include commercial, institutional and light industrial Security officers, mobile patrols, home alarms, K-9 patrol, access control, closed-circuit television, perimeter protection, remote video monitoring IT and management consulting professional services including recruitment (e.g., contract, permanent staffing, pass-through) and outsourced solutions Supplier of propagated plants
1986
75 50
TSX-V:IPC
Custom designs and manufactures premium-quality, 1999 safe and durable play structures for children worldwide
100 75
Kevin McCrum, CEO, Bruce Taylor, COO, Garth Miller, director, finance and IT
Privately held
Janitorial services, exterior maintenance and document 1956 shredding
1,184 705
Darryl Jacobs, president
TSX-V:TBA
Aerospace
2011
NP NP
Alexei Marko, CEO
TSX, Nasdaq:NVC
Developer, manufacturer and marketer of cardiovascular devices
2000
205 101
Don Kayne, CEO
TSX:CFP
Lumber, value-added wood products, pulp, paper and green energy
1938
6,257 3,411
Chris Breikss, co-founder and president, John Blown, co-founder, Lyn Bryan, managing director Amar Doman, chair, Dale MacLean, president and CEO
Privately held
Sister agencies specializing in digital marketing, advertising and web design and development services
2000
71 36
TSX:TSL
Manufacturer of steel wire and wire-related products
1964
510 316
Peter Eng, chair and CEO, Michael Chan, president and CFO
TSX-V:AHP
Accommodation services
1982
NP NP
Peter Turner, president and CEO
Privately held
5 4
Peter Ashcroft, president and CEO
Employee-owned
IP-based security systems, security software, camera 1986 portal services, integration services, video analytics, IP cameras, network video recorder servers, video management software Provides civil infrastructure services - maintenance, 1988 contracting and products Grower and marketer of hydroponic produce
1,3003 1,200
Ritchie Bros Auctioneers Inc 9500 Glenlyon Pky, Burnaby V5J 0C6 P: 778-331-5500 F: 778-331-4628 rbauction.com VentureWeb 40258 Glenalder Pl Suite 115, Squamish V8B 0G2 P: 604-815-4542 F: 866-267-0953 ventureweb.net KDS Construction Ltd 16250 20 Ave, Surrey V3Z 9M8 P: 604-535-8152 F: 604-535-8132 kdsconstruction.ca Paladin Security 3001 Wayburne Dr Suite 201, Burnaby V5G 4W3 P: 604-677-8700 F: 604-677-8701 paladinsecurity.com Annex Consulting Group Inc 555 Burrard St Suite 950, Vancouver V7X 1M9 P: 604-638-8878 F: NP annexgroup.com Bevo Agro Inc Box 73, 7170 Glover Rd, Milner V0X 1T0 P: 604-888-0420 F: 604-888-8048 bevofarms.com Iplayco Corp Ltd 27353 58 Cres Suite 215, Langley V4W 3W7 P: 604-607-1111 F: 604-607-1107 iplaycoltd.com Best Service Pros 85 Schooner St Suite 101, Coquitlam V3K 7A8 P: 604-347-7455 F: 604-874-5846 best.ca IWG Technologies Inc 3771 North Fraser Way Suite 1, Burnaby V5J 5G5 P: 604-255-5555 F: NP water.aero Neovasc Inc 13562 Maycrest Way Suite 5138, Richmond V6V 2J7 P: 604-270-4344 F: 604-270-4384 neovasc.com Canfor Corp 1700 75th Ave W Suite 100, Vancouver V6P 6G2 P: 604-661-5241 F: 604-661-5253 canfor.com 6S Marketing/Drive Digital 1120 Hamilton St Suite 400, Vancouver V6B 2S2 P: 604-428-1222 F: NP 6smarketing.com, drivedigital.ca Tree Island Steel Ltd 3933 Boundary Rd, Richmond V6V 1T8 P: 604-524-3744 F: 604-524-2362 treeisland.com Allied Hotel Properties Inc 515 Pender St W Suite 300, Vancouver V6B 6H5 P: 604-669-5335 F: 604-682-8131 alliedhotels.com CamCentral Systems Inc 7 7th Ave W Suite 300, Vancouver V5Y 1L4 P: 604-876-3838 F: 604-876-3255 camcentral.net
84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100
Mainroad Group 17474 56 Ave, Surrey V3S 1C3 P: 604-575-7020 F: 604-575-7045 mainroad.ca Village Farms International Inc 4700 80 St, Delta V4K 3N3 P: 604-940-6012 F: 604-940-6312 villagefarms.com
Michael DeGiglio, president and CEO, TSX:VFF Stephen Ruffini, executive vice-president and CFO
Sources: Interviews with above companies and BIV research. USD converted to CAD using Bank of Canada's average yearly rate depending on company's fiscal year-end. Companies must have had $50,000 in sales in 2012 and $1 million in 2016 to qualify. NP Not provided 1 - Sussex Franchise Systems Inc 2 - Converted from USD 3 - Includes contractors
1989
638 NP
$54,758,696 $30,863,764 77.4% $74,661,000 $42,247,601 76.7% $523,491,570 $297,445,941 76% $750,360,0962 $437,779,8182 71.4% $1,150,000 $675,000 70.4% $24,200,000 $14,400,000 68.1% $247,700,000 $147,600,000 67.8% $29,746,997 $18,012,132 65.1% $31,167,250 $18,897,742 64.9% $17,023,914 $10,389,445 63.9% $31,389,391 $19,283,869 62.8% $9,731,616 $6,014,067 61.8% $12,602,5522 $7,819,154 61.2% $4,234,900,000 $2,642,800,000 60.2% $6,200,000 $3,900,000 59% $231,253,000 $146,238,000 58.1% $12,319,000 $7,795,000 58% $1,200,000 $760,000 57.9% $167,000,000 $107,000,000 56.1% $206,009,0502 $133,888,4232 53.9%
Business in Vancouver makes every attempt to publish accurate information in the List, but accuracy cannot be guaranteed. Researched by Carrie Schmidt, lists@biv.com.
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