Kasteel Construction and Coatings
BDC helped us create an investment opportunity by financing our properties. With their strategic planning expertise, we also prioritized what we needed to do to realize our growth plans!
Everett Kasteel
General Manager
Takes pride in workplace safety, as a number-one priority
About the company
A Northern construction and coatings company that meets the demands of the North
Location: Yellowknife, Northwest Territories
Industry: Construction
Entrepreneur challenge
The company was looking to invest in commercial properties, and also sought financing to meet security and bonding requirements for contracts. The firm also wanted to develop a strategic plan that would provide a clear roadmap for future growth.
BDC expertise
BDC provided commercial real estate financing for two properties, as well as working capital to meet the company’s securities and bonding requirements. BDC’s strategic planning experts also helped the business develop a rigorous strategic plan to guide its decisions during a critical period of growth.
Results
- Scaled up business
- Created a safety and training division to offer services to other companies
- Renovated a seven bedroom staff house for remote employees
- Developed a well-structured strategic plan with buy-in from management team and employees
- Avoided layoffs during the pandemic