President's Message

Greg Yuel

Greg Yuel

That was fun. We certainly worked hard for the past three years for this outcome but I am grateful for the luck that also graced us. The PIC Group had the best year in company history by every measure you could throw at it.

Panther led the way in year over year growth percentage again but every PIC Group company grew and all maintained their margin in an inflationary cycle. Our larger companies including ClearTech, Caron, Panther, CanGas, & Kreos grew by over 20%. As only a few of us old people still recall, inflation makes your top line look good and leaves you thinking that you are doing great, meanwhile your bottom line could be getting pulverized by that same inflation if your costs exceed your pricing. Our companies stayed on top of this perfectly.

Our smaller companies and our emerging leaders showed their skill and earned their stripes by keeping a grip on their business amid volatility in supply-chain, contract obligations, labour availability and financial covenants. They grew but importantly, they preserved margin and did not let the business get away from them.

You will see no acquisition announcements and no stories of synergies nor of windfalls this year. This year was about integration of what we have, it was all about culture, team-building, strategic planning and developing excellence. In every company we entered the year having invested heavily in people. Training and personal development along with hiring the best new members to our teams. In many companies we made investments in internal projects and IT. We invested in our facilities and grew our capital assets and inventories to make an attack on increasing our market share. Thanks to our financial partners who assisted us in building our inventories, especially our big overseas purchases that ultimately resulted in our success in keeping our customers in business and attracting new customers.

Plans are useless, but planning is indispensable. It will be proven to be greatly important that almost all PIC Group companies embarked on a campaign to revise their strategic plan, professionally facilitated and multi-day in creation. The dividends for that effort are what will make us look smart ten years from now. Each of us know where we are trying to go, and we each helped figure out how we are going to get there. The process caused us to share stories, create a vision for the future, find out the hopes and dreams of our colleagues, and figure out where everyone fits. Now, when unforeseen events surprise us, we will be ready to adapt knowing the ultimate goal.

Everything we did this year is reflective of the value PIC is supposed to bring to our Operating Companies and equity investment partners. We connect the dots and be the anti-Red Tape committee and help deliver opportunities that take years to come to fruition so our leaders and their teams can focus on their operation. As a Family Office, we own Operating Companies and place equity investments. We provide financial services, HR support, M&A search, identification & closing expertise, payroll & benefits, Board governance & strategic planning for our companies. Together, Laurie Dmytryshyn, Craig Bell, Terris Chorney, Hugh MacGowan and I want to help people who enjoy autonomy and follow entrepreneurial instincts to grow.