Success stories
» ICI Artificial Lift Inc.
» Cargo West
» Dynamic Amusements
» Conquest Coil Tubing Inc.
» Sunwest Land Corporation
ICI Artificial Lift Inc.
The company designs and manufactures leading-edge “Artificial Lift” equipment for the application in Heavy Oil, Light and Medium Crude, Coal Bed Methane, and Natural Gas (dewatering). Its technologies decrease installation, operating and maintenance costs and increase production efficiency on each stroke.
Lloydminster Booster Article
Lloyd Company Makes ‘Hot’ List
Carl Carter
Friday January 11, 2008
When Perry St. Denis started his company in 2002 he was just happy to be able to afford the rent on their building. Six years later, his company bought that building and has expanded into a brand new facility. Alberta Venture magazine has ranked ICI Artificial Lift Inc. 11th out of 25 Alberta-based companies with revenues under $25 million thanks to the $7.7 million it earned in revenues last year, as well as some new technology they are bringing to the oil patch.
"It's a huge accomplishment for all the staff at ICI," said CEO Perry St. Denis, who now employs 20 staff members. "I never dreamed we’d be where we are today, not this quickly." His company came up with a new line of pump jacks – the Golden Rod 30 and Golden Rod 20 – which are making oil pumps all over the world more efficient, and make getting at the oil cheaper and faster.
"Most of our work at this time is northern Alberta, New Mexico, and, of course, Nova Scotia and New Brunswick," he said. "Those areas are pretty hot right now for us."
St. Denis definitely has the oil-boom to thank for his success, but support from the community has also helped the upstart entrepreneur. "The booming market helped, and also getting the right people, getting the product name out there," he said.
Glenn Fagnan, president of the Lloydminster Chamber of Commerce, said the ranking is really a testament to the business community in the city. "We've had some pretty phenomenal growth here over the last year," said Fagnan. "It is a reflection of the stability and strength of our economy and business community." The sky is the limit for St. Denis and his company, which he hopes to expand into more global markets and crack the top 25 companies with over $20 million in revenue.
"That's what our goal is this year, is to make over $20 million in revenue."
Cargo West
Mark and Connie Street established a courier service in February 2002 called Cargo West. Its primary run was between Grande Prairie and Fort St. John five days per week. Most of the product being shipped was for oilfield use consisting of parts for construction/mechanical. The company started with Mark owning a truck and trailer and expanding to two contract operators.
Mark is a real go getter and was constantly looking at ways to expand, while carefully working out all the details. He was in constant contact with his lender and discussed expansion before proceeding. Demand for more routes was evident as the oil, gas and soon coal mine industries were in need of quick turnarounds for parts and equipment. Cargo West started expanding year by year adding more destinations for its service. The company now couriers freight to the following destinations: Edmonton, Whitecourt, Fox Creek, Valleyview, Grande Prairie, Dawson Creek, Fort St. John, Fort Nelson, Prince George, Chetwynd, Tumbler Ridge, Peace River, Grimshaw, Fairview, Spirit River and Rycroft.
Our Common Wealth lender has assisted this company with its growth. It was exciting to see a person with such enthusiasm and drive to grow a one man company into what it is today; 6 employees, 16 subcontractors and interlining couriers. It has purchased commercial properties in British Columbia to house its freight and is expanding its location here in Grande Prairie to a newer larger site.
Mark Street – cell #1.780.832.7503
Dynamic Amusements
Jim Rennie Jr. is the owner of Dynamic Amusements in Whitecourt, consisting of 3 convenience stores and a housing development. He has dealt with the big banks in the past, increasingly frustrated with the impersonal treatment.
Jim met a Common Wealth Credit Union Branch Manager at a Chamber of Commerce event and became a member of CWCU in May 2003. He has benefited from great support, in both his personal and business banking.
Dynamic Amusements' sales have grown from $4 million to $8 million during his membership with CWCU. The company has grown from 25 employees to 75 employees in this time frame, many of whom are now CWCU members as well.
Conquest Coil Tubing Inc.
Tracy & Coreen Klotz began their Coil Tubing company in Lloydminster in May 2004 with only one truck. The company now operates three coil tubing units. In conjunction with their coil tubing company, they operate an oil well tool company called Titus Tools Inc. which they founded in 1997. Tracy has actively worked in the oil and gas industry for almost 30 years.
The manpower required for truck driving within the Lloydminster area is a challenge as there is a high demand for drivers in the trucking industry. Due to Tracy's numerous contacts in the oil industry and his strong, credible reputation as an employer, he was able to hire people who compliment their existing employee base. He holds high personal integrity standards for himself and their employees and demonstrates great management skills through the successful operation of his businesses.
Tracy & Coreen have been personal and business members of Common Wealth Credit Union for approximately 15 years. Tracy is an active supporter of CWCU and has referred business to the credit union on many occasions. Tracy has a very high profile and plays an active role in the community, receiving invitations for motivational and public speaking for a variety of functions in the area and was the voice of the “Oil & Gas Prices Of The Day” on one of the local radio stations.
With the success of Tracy's companies he would like to comment on the tremendous support and service he has received from Common Wealth Credit Union through the years.
The future continues to look bright and prosperous for Conquest Coil Tubing Inc. and Titus Tools Inc.
Sunwest Land Corporation
President & CEO – Ken Larsen, P. Eng.
Sunwest's experience with CWCU began in 2005. Sunwest's business at the time required equipment financing in order to reduce costs associated with renting equipment in the light industrial and commercial construction industry. Our relationship began with a Loans Officer at CWCU in Edmonton. The Loans Officer respected our financing needs as well as the challenges that a small business has in the overheated Alberta economy.
The success of our Engineering Commercial Construction provided us the opportunity to venture into Land Development and Residential Home Construction in Whitecourt, Alberta.
A business plan was prepared and offered to Common Wealth Credit Union. The Edmonton Loans Officer reviewed our business plan and offered his support for our venture. After offering his support he advised that Sunwest Homes (Sunwest) would receive the most effective service for our venture from the Whitecourt Branch of CWCU. The transition to dealing with the Whitecourt Branch was a success with no time lost in securing financial support that allowed us to enter the residential construction market in Whitecourt.
The Whitecourt Branch offered the services of a dedicated Loans Officer. Sunwest's new contact has always provided timely advances and made herself available for meetings and discussions as required.
Sunwest's sales volume has grown from "zero" to nearly $5 million in 2.5 years. Our product line has increased to include multi-family residential units as well as rural land development in the greater Edmonton area. The support provided by our Loans Officer in this regard has remained strong.
Sunwest's rapid growth has required a loans officer that can also react to short term financing requirements. This requirement has always been accommodated by the credit union.
Sunwest looks forward to continued financial support from Common Wealth Credit Union as well as continued growth in the Alberta Residential and Commercial Construction Industry.
