Alberta’s Fast Growth 50 for 2013

The definitive list of Alberta's fast-growth champions


The 2013 Fast Growth 50
Overview 2013: A Return to Form
The List of 2013 Fast Growth 50 Companies
#1 Western Energy Services: "Drills, Baby, Drills"
#4 Smoke NV: "Lighting It Up"
#25 Manfred James Group Inc. "By the Book"

Previous Fast Growth 50 lists
Previous Fast Growth 50 coverage

After a few years of relative absence, players in the oil and gas sector surge back onto the Fast Growth 50 list.

Growing your company quickly can be a blessing, a curse, or both at the same time. Tempering the excitement of remarkable revenue and profit numbers will be the nagging knowledge that, particularly here in Alberta, your business is going to have to be on its toes to find enough capital and labour and hours in the day to keep up with demand and keep customers coming back. Add to that the fact that you operate in an economy that experiences more fluctuation than most and you have a set of challenges that can only be managed with a solid backbone.

Be that as it may, companies submit applications to be included on this list because they’re proud of their accomplishments, and what a series of stories there are to tell again this year. This, the 15th iteration of Alberta Venture’s list of this province’s fastest growing companies, includes an electronic-cigarette maker for the first time, a pizzeria, five high-tech companies and 12 in the business-services sector. The companies on the list grew their revenue by an average annualized rate of 131 per cent over the last three years, their assets by 188 per cent and their work-forces by 78 per cent.

We also see something of a return to form. After a few years of relative absence, the oil and gas sector – reflecting the uptick in drilling and completion activity – make up the largest portion of companies on the list. There are 14 such businesses represented, up from seven last year, and that includes the top performer, Western Energy Services Corp.

The drilling company increased its revenue from $4 million two years ago to $263 million this year, expanded its employee complement from 24 to more than 1,000 and grew its assets by a similar degree.

On the macro-scale, 2012 surprised us. “The early promise of an economic recovery and what was briefly a strong rally in energy stocks in the first two months of the year evaporated,” wrote Eric Nuttall, a portfolio manager with Sprott Asset Management, in Alberta Oil last month. This gave way to “persistent concerns about Europe, a Chinese slowdown, elections in the United States and now the so-called fiscal cliff.”

Every business must ride the waves of the economy. It’s clear that those on this list have done so with aplomb.

Note on methodology: the Fast Growth 50 list is based on completed questionnaires and financial statements submitted by Alberta-based companies and vetted by Venture Publishing and program partner KPMG. Companies were ranked based on a weighted point system using 10 different criteria.

The Fast Growth 50 was made possible with the assistance of KPMG, as well as program sponsors ATB Financial -- Business, Executrade Consultants, Field Law, Strategic Group and TEC Canada.

2013 Fast Growth 50 Conference and Awards Reception
This year's Fast Growth 50 conference is themed "Money, Management & Markets." Click here for tickets and information

Click on the column heads to sort by that criterion
Rank Company Head Office Revenues ($) 3 yr Annualized
3 yr Annualized
3 yr Annualized
1Western Energy ServicesCalgary262,519,000717612523
3DevFacto TechnologiesEdmonton5,204,2959691121
4Smoke NVEdmonton6,047,43705240
5FourQuest EnergyEdmonton32,894,447224272106
6Calfrac Well ServicesCalgary1,537,392,00061320
7Matrix Labour LeasingCalgary13,018,6389797112
8Bankers PetroleumCalgary339,918,000984729
9Rocking Horse Energy ServicesStrathmore8,443,1301079073
10Tuscany International DrillingCalgary187,940,000694237239
11CoreTech StaffingCalgary9,171,930806315
12Metalcare GroupFort McMurray16,048,632955379
133C Information SolutionsCalgary7,897,960276133
14PHX Energy ServicesCalgary260,063,371514035
15ICOM ProductionsCalgary6,697,011453865
16Silver Creek SoftwareEdmonton3,814,064813473
17Airworks CompressorsEdmonton3,579,563776825
18Business Instincts GroupCalgary2,178,55039872136
19Pure Global ImportsCalgary1,450,000119153165
21Western Camp ServicesEdmonton43,500,00047924
22Mobile Data TechnologiesAcheson5,018,879302205124
23CAN TelematicsCalgary2,300,0002166397
24Hire StandardLethbridge789,61714116141
25Manfred James GroupCalgary1,820,000127149112
26Strategic Oil & GasCalgary23,900,0001921087
27Essential Energy ServicesCalgary317,200,000695839
28Pinnacle Wealth BrokersCalgary4,387,4270500412
30NewRock DevelopmentsMedicine Hat21,184,599000
32HC Piper ManufacturingCalgary31,762,4189310351
33Danatec Educational ServicesCalgary4,867,527225510
35Beck Gold & Diamond BrokersEdmonton1,877,9761883729
36ICI Artificial LiftLloydminster19,170,763664110
37DECO Windshield RepairCalgary4,184,7716616261
38Harcourt Recruiting SpecialistsEdmonton1,571,929304118
39Yardstick TechnologiesEdmonton5,345,950559167
42Hyduke Energy ServicesNisku84,516,874462033
43Cervus EquipmentCalgary559,598,000221211
44TANTUS Solutions GroupEdmonton8,350,000465423
45Global Spa ComponentsEdmonton2,813,0511101380
46Panelflex LTDCalgary5,342,1050168145
47FREE AdvertisingEdmonton3,877,298685010
48Northridge Energy Development GroupCalgary10,462,151546229
49Blacktop PavingEdmonton8,450,000414211
50Trinidad DrillingCalgary797,285,00016018