ENERGY – PRIVATELY HELD
Blaine LaBonte Cougar Drilling Solutions
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laine LaBonte started with Cougar Tools in 1991 as a machinist. He worked his way up through the ranks, and, in 2007, he became CEO. In 2010, he rebranded the company as Cougar Drilling Solutions – taking a downhole tool rental company and transforming it into a complete drilling solutions provider: a multinational concern.
One indispensable element to his success is what he learned at the Owner/President Management Program at Harvard Business School. He doesn’t worry about the money. Instead, he focuses on treating his employees, partners and customers with the utmost respect. It seems almost too simple, but it’s worked wonders for LaBonte. Another indispensable element is personnel. Keeping key people is a big part of LaBonte’s method. “Employee retention through career development is how we retain knowledge and wisdom,” says LaBonte. “The shift supervisor of today becomes the VP of tomorrow.” LaBonte also implemented a lean operating model during the recession that has allowed the firm to stay productive, growing its revenue while others were struggling. Within the last few years he’s doubled the number of employees and projects next year’s sales at $100 M. Cougar DS has taken big risks and overcome huge challenges to achieve today’s success: global recession, export embargoes, civil wars and endemic corruption in import countries. Cougar Drilling Solutions’ culture and future success boils down to three things: optimization, collaboration and education. It’s an approach that’s unlike anyone else’s in the industry, and it’s another way Cougar Drilling Solutions, and Blaine LaBonte, is proving itself a world leader.
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Ernst & Young Entrepreneur Of The Year 2012