Address: 6110A N. Flint Road, Milwaukee, WI 53209
Year founded: 2007
Product or service offered: Distributor of military vehicle spare parts and accessories
Projected 2011 revenue: $18 million
CEO, President/Owner(s): Eric Dermond, CEO; Stephane Dermond, president; Max Dermond, executive vice president; Doug Olson, executive vice president.
Target clientele: Maintenance facilities, foreign ministries and armed forces, military vehicle manufacturers, U.S. prime contractors.
Business organization memberships: Association of the United States Army, MMAC
What has fueled your company’s growth?
The high demand for maintaining military vehicles in Iraq and Afghanistan has fueled our growth and our ability to do business in high risk countries and accept payment terms, which are unconventional to most companies.
What is the biggest obstacle to your company’s growth?
Shrinking defense budgets and geopolitical instability as well as inferior quality parts from overseas markets.
Do you plan any changes in your company in the upcoming months?
The company is looking to hire more personnel if we successfully sign additional contracts with Ministries in Iraq as well as become a preferred vendor to maintenance contractors in Afghanistan. We are also increasing our inventory levels to keep up with the high demand of parts needed for vehicle repairs and maintenance.
Who are the business people, locally or nationally, whom you admire? And what traits do those people exhibit that make you admire them?
The businesses and their management who have stayed in business an flourished in this tough economy. Most particularly, those who have taken the risk and invested in their companies infastructure. This group of people have a innovative passion for their product or service driven by their long term vision of success not short term profits.
What is the outlook for the business conditions of your industry over the next several months?
As the year advances, the trend is that most Ministries will begin allocating their budgets for commodities that they know are in high demand. As the budgets decrease, we will be looking at sharpening our pencil to capture more business.
What is your company’s key strategy for rising out of the recession?
Our company will streamline processes to reach greater efficiencies and cut cost to be more competitive so we can increase sales volume. We are expanding our target market to include select countries in Asia, Europe, and South America.