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Focus on the Pure Play ›› BY MARTIN DOVER
T
he shop floor at McCoy Global’s Edmonton facility is busy. Plant manager and instructor Rajesh Bali has the attention of a half dozen employees from a client site on the Gulf Coast. Before they return home, they’ll be fully trained and certified in the use and maintenance of McCoy’s leading edge torque turn management system, the winCATT and weCATT. Training and certification is part of the package that sets McCoy Global apart. The company’s story started in 1914 when a blacksmith named Henry McCoy opened up shop in Edmonton. The business went on to become a spring manufacturer and a truck and trailer parts distributor, a trailer manufacturer, an international truck dealer – among other things. In 2002, CEO Jim Rakievich took over the helm and has worked steadily to hone the company’s expertise and focus solely on its core business: drillings and completions. Today, McCoy Global is a publically-traded company that has unparalleled breadth of technical capabilities in tubular connection make-up for well casing. “And we’re leaders in hydraulic power tongs and torque turn monitoring,” Rakievich says. Along with the McCoy name, a few things have remained constant. The company has concentrated on manufacturing solutions for its specialized markets, and its headquarters have remained in Edmonton, though there are now offices and customer support centres in Louisiana, Singapore, Texas, Scotland and soon the Middle East. “We operate globally, supporting our technology with our international locations,” Rakievich says. One of the innovative tech offerings has been the winCATT, a computer hardware and software system to monitor casing connections from an easy-to-use
A GLOBAL HOME: CEO Jim Rakievich is at home in the Edmonton manufacturing facility. A second such facility is located in Louisiana.
windows-based computer platform. The system has sold 1,000 units since the 1990s. McCoy has slowly been divesting its several non-core ventures since 2003. “Our elevator pitch needed a 20-storey building,” Rakievich jokes of the too-wide variety of McCoy’s past interests. “We wanted to develop into a pure play company.” The move has helped grow the company. “Having a global market has a stabilizing effect on the business, given the cyclical nature of the oil and gas industry in Western Canada,” Rakievich says. “About half our business comes from outside North America.” And what was a $5 million revenue part of the business in 2002 generated $110 million in 2013. Cyclical markets aside, Rakievich says the key to McCoy Global’s success lies in its people, more than 400 of them. “We recruit well, develop skills in-house and help people with their career plans,” he says. It pays off in staff engagement and loyalty. Rakievich still gets excited to come to work every day. “We’re cleaning up the last of our legacy businesses that don’t fit into our pure play focus,” he says. “And we’re building internationally.” Above all, he says, McCoy Global will continue to develop leading products and technologies that solve problems for customers worldwide. “We want our customers to net gains in efficiency, safety, cost savings – whatever their goals.”
McCoy Global has 421 employees in Alberta, Texas, Louisiana, Scotland and Singapore. All locations have sales offices and service and parts warehouses. info@mccoyglobal.com ›› TSX:MCB ›› OTCQX:MCCRF