1175 Cottonwood Ave., Hartland
2015 annual revenue: Not disclosed
Price Engineering is a family business that has called Waukesha County home since 1974. The company has a fearless commitment to succeed, and has never stopped designing, engineering, repairing and advancing hydraulics and pneumatic systems since its foundation.
“We’ve more than doubled in size since 2009,” said Thomas Price, Jr., president and chief executive officer. “It’s been organic growth, just continuing to find areas of our business to enhance in order to take better care of our customers.”
What began as a wholesale distribution company for fluid power components has evolved to become much more, Price said.
Today, Price Engineering has created specialized individual business units for mobile and industrial hydraulics and control; automation and motion control; fluid conveyance; auto-lubrication systems; field service and repair; and retail hose and fittings stores.
“Our goal is to provide better support for our clients and their specific needs,” he said.
In an industry that is often considered dirty because of its use of oil in big machinery, Price Engineering is committed to sustainability through innovation, Price said.
The company is currently awaiting a patent on its Cyclone hydraulic reservoirs, which reduce the oil required in a system by 90 percent.
“The future of our business demands our focus on creating a better footprint for our industry,” Price said. “People come to us because they like how we operate; they know we can make their machines safe and more efficient.”
The sustainability practices extend to Price Engineering’s hiring practices, as well.
The company takes a “hire for life” approach to business, Price said.
“We have approximately 150 employees and nearly 40 percent of them have been with the company for 10 years or more,” he said. “There’s a unique difference between a family-owned business and some large corporations. We make decisions based on our commitment to our employees. We believe in continuous education that enhances their knowledge bases and fulfills their desires to advance their careers.”
Currently, Price Engineering is focused on launching a new brand platform for its Cyclone hydraulic reservoir, and plans to use the new product and others to work toward predictive maintenance and other innovations in the industry.