PTM Industries Inc, based in Toronto, is a family-owned Canadian distributor for a select group of industrial power transmission component manufacturers and has fifteen employees. The company’s customers are distributors, wholesalers and original equipment manufacturers located across Canada.
The company’s President Daniel Cotton was looking for working capital in order to invest and grow the business. These investments included equipment and IT infrastructure and inventory purchases. The company also sought expertise to help the firm complete some strategic projects such as building a website and developing a strong marketing plan.
To meet the company’s needs, BDC provided an Xpansion loan, a flexible solution which helped the firm invest and at the same time maintain vital cash flow in the business. PTM was able to count on BDC’s supportive and flexible approach to get the capital needed in a timely manner. BDC’s Advisory Services team also worked with the company to provide expert advice to build its website and increase its client reach. As well, BDC’s sales and marketing experts helped the firm develop a solid marketing plan that will provide a roadmap for ongoing marketing efforts. "Having people who are experts in their specific areas has helped guide our company. BDC understands better than most what we're trying to accomplish and their products and services align with that,” says Cotton.
As result, PTM Industries was able to make investments in the business that would have otherwise been postponed for a few years, as well as accelerate the execution of its strategic plan in order to expand more rapidly. This has helped the client grow its sales at approximately 21% per year as opposed to 7% per year prior to working with BDC.