Press release:

Private Business Growth Award announces 2014 winner

Toronto, November 20, 2014

[TORONTO/OTTAWA] Grant Thornton LLP and the Canadian Chamber of Commerce are pleased to announce Polycorp Ltd. as the winner of the 2014 Private Business Growth Award. The Elora, Ontario-based business was presented with the award at a gala at the Four Seasons Hotel in Toronto last night. Polycorp Ltd. was chosen from an impressive group of 10 finalists that epitomize the very best qualities of Canadian private businesses in terms of strategic leadership, innovation, and sustainable growth.


“Polycorp Ltd. is a great Canadian success story built on a solid, long term strategy and a commitment to technical leadership,” said Phil Noble, Executive Partner and CEO, Grant Thornton LLP. “By constantly engineering new designs, developing improved materials and composites, and searching for new technologies, Polycorp Ltd. has positioned itself for remarkable and sustained growth and is a business model for others to follow.”


Polycorp designs and manufactures engineered elastomeric parts, providing its industrial customers with high quality, cost effective solutions to address corrosion, abrasion, impact, noise and vibration challenges. Established in 1996 as the successor to B.F. Goodrich Engineered Products of Canada, Polycorp has grown to over 230 employees and agents serving customers worldwide, and is the largest North American manufacturer in its three niche markets. The company has balanced its growth across product lines and geographies, and consistently reinvests in technology, equipment, intellectual property development, and people, to sustain its ongoing growth and success.


“Polycorp Ltd.’s success exemplifies what we like to call the private business advantage,” said Perrin Beatty, President and CEO of the over 200,000-member Canadian Chamber of Commerce, Canada’s largest and most representative national business association. “Private businesses have the advantage of being able to focus their time and attention on the bigger picture and execute on their plans to achieve long term growth. This is real competitiveness. This type of growth is what will enable the Canadian economy to emerge stronger year after year.”


A jury of eight notable professionals from across the country with an understanding of what it takes to run and grow successful private businesses used the following five criteria to determine both the finalists and Polycorp Ltd. as the winner:


  • Innovation: Developing new products and services, bringing old products to market in a new way as well as improving the efficiency and effectiveness of internal processes.
  • Market development: How they go to market and expand into new domestic or international markets.
  • People and culture: Investing in their people by helping employees learn and develop as a critical part of overall growth.
  • Strategic leadership:  How they interact with partners, stakeholders, their succession planning and community involvement.
  • Improvements in financial measures: Ensuring revenue growth and improvements in profitability.

Other finalists for the 2014 Private Business Growth Award were recognized and included (in alphabetical order):


As the winner, Polycorp Ltd. receives a one-year membership to the Canadian Chamber of Commerce and $10,000 in accounting and/or advisory services from Grant Thornton LLP.


About the Private Business Growth Award


The Private Business Growth Award recognizes Canadian-owned, privately-held businesses that have been in business a minimum of three years, have $5 million or more in revenues and have demonstrated outstanding strategic growth. A partnership between The Canadian Chamber of Commerce and Grant Thornton LLP, 2014 marks the second year this national business award has recognized and celebrated the successful growth of private businesses in Canada. A jury of high-profile Canadian business leaders selected 10 finalists and one winning company based on the following criteria: innovation, market development, people and culture, strategic leadership, and improvements in financial measures. For further information, visit www.privatebusinessgrowthaward.com.


About Grant Thornton LLP


Grant Thornton LLP is a leading Canadian accounting and advisory firm providing audit, tax and advisory services to private and public organizations. We help dynamic organizations unlock their potential for growth by providing meaningful, actionable advice through a broad range of services.  Together with the Quebec firm Raymond Chabot Grant Thornton LLP, Grant Thornton in Canada has approximately 4,000 people in offices across Canada. Grant Thornton LLP is a Canadian member of Grant Thornton International Ltd, whose member firms operate in over 100 countries worldwide. For further information, visit www.grantthornton.ca.


About the Canadian Chamber of Commerce


The Canadian Chamber of Commerce is the vital connection between business and the federal government. Through its network of over 450 chambers of commerce and boards of trade, representing 200,000 businesses of all sizes in all sectors of the economy and in all regions, it helps shape public policy and decision-making to the benefit of businesses, communities and families across Canada. For further information, visit www.chamber.ca.


For further information
Shelia Scott
National Marketing Manager
Grant Thornton LLP
T +1 416 607 2684
E Shelia.Scott@ca.gt.com


Emilie Potvin
Director, Public Affairs and Media Relations
The Canadian Chamber of Commerce
T +1 613 238 4000, ext. 231
E epotvin@chamber.ca