Design Manufacturing
If BDC hadn’t supported us, we wouldn’t be here today. They’re set up to help businesses grow.
Donald Fillier and Jason Miller
Co-owners
Quickly growing specialist in high- precision machining using the latest technology to offer quality service and fast turnarounds
About the company
Machine shop manufacturing components for subsea, oil and gas, marine and aerospace companies.
Location: Mount Pearl, Newfoundland and Labrador
Industry: Machine Shop
Entrepreneur challenge
The company’s growth was stagnating. It had opportunities to pursue larger, higher-margin jobs, but it was being held back because of a lack of capacity due to the size limitations of its machinery. Financing for new equipment was difficult to obtain from traditional lenders.
BDC expertise
The co-owners of the company obtained several BDC loans to purchase larger CNC equipment, including a large capacity lathe, a larger, 5-axis milling machine and a 5-axis water jet machine. The new equipment allowed the business to pursue larger jobs, improve productivity and diversify into new markets.
Results
- 50% sales growth over 7 years after first BDC loan.
- Nearly 25% growth expected over 2 years following second loan.
- Additional 50% growth targeted in next 4 years.
- Total growth since start of BDC involvement: nearly 300%.