Natural stone products
Primary markets: Canada, USA
Number of employees: 325
Patrick Perus, CEO
A rock solid business
Easy central bank monetary policy since the last financial crash has spurred major investments in housing, business and public sector infrastructure. This has created demand for the granite, marble, limestone and soapstone used in countertops, funeral monuments and other construction components. Led by CEO Patrick Perus, Polycor, which describes itself as an “integrated dimension stone group” has been a big winner from the trend.
Founded in 1987, Polycor owns and operates 25 quarries and six manufacturing facilities, staffed by 325 employees, who produce 1.5 million cubic feet of rough blocks per year. “We supply material used in urban landscaping projects in cities such as Toronto, New York and Boston,” said Perus. “We have a large market share and estimate that the average North American sees material we supplied for those projects once every week.”
Perus joined Polycor, after the mining company he worked at asked him to divest the division. “I got to know the business and quickly fell in love with it,” said Perus. “After the divestiture was complete I joined Polycor, and eventually took an ownership stake.”
Backed by several partners Polycor quickly embarked on an acquisition streak, that included three new deposits in the past year alone. These included a granite operation in Maine, which will supply the new England market with curbing components, a quartz deposit in Northern Quebec and a marble quarry in Oklahoma.
Perus credits the company’s young management team and qualified craftsmen for its ongoing success. The cheap Canadian dollar, which facilitates exports to the United States also helped. “It’s relatively easy to raise money right now if you show solid growth and a good business plan,” said Perus. “So we are going to continue to look for new acquisition targets in the New Year.”
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