Subjected to the ups and downs of the wood market in recent years, Autolog had to contend with major fluctuations in sales. Located in Blainville, Quebec, the business specializes in wood transformation and designs, manufactures and installs wood machinery optimization and process control systems. It employs some 100 people.
In 2013, Autolog called on BDC to finance the cost of producing a system for one of its key clients under a capital lease, an innovative way for the company to do business. Autolog had already dealt with BDC on a construction project and for redemption of shares.
BDC supported Autologby financing a high percentage of the new system’s production costs. The company also benefited from flexible payment terms in order to protect its working capital.
The capital lease sale formula breathed new life into the company, which repeated the experience with other clients. This solution had a substantial impact on profits and sales, which more than doubled over a five-year period.
“We now know we’re capable of doing things differently,” said Florin Naiche, Autolog’s Chief Strategy and Finance Officer. “We know we can count on BDC’s support, which, as a strategic partner, allows us to stand out in the market.”
Thanks to its ability to innovate and design leading-edge systems, Autolog has set itself apart from the competition. The proof is that the company continues to grow. Its order book bodes well for a successful future.