The road to the top as one of the 100 fastest growing companies identified by Profit Magazine in

2001 was not easy for Vincent Dequoy. The motorized scaffolding manufacturing firm was

founded in 1991 in LAssomption, Quebec. With a growth rate of 1,036 percent during the 1995

to 2000 period the firm has healthy profits of $1,572,600 on sales of $22 million. The number of

employees has jumped from 20 to 90, and the company has achieved its success primarily from

exporting, with 98 percent of its revenues generated outside of Canada.

The major difficulty that Dequoy encountered was not from the competition but from the

founder.

By the late 1990s Vincent knew his relationship with his business partner, Jean

Robillard, was on shaky ground. The two clashed when it came to running their firm. He wanted

to bring the company onto a fast-growing process, says Dequoy. My vision was to stabilize the

company and build strong foundations.

Still Dequoy was shocked two years ago when Robillard instigated a shotgun clause in

their shareholder agreement. His choice: take the money on offer, or buy out Robillard at the

same price.

It wasnt an easy decision. Robillard had made him a partner in 1996, but it was

understood that this was Robillards company. I think he never thought in his life that I would

take the offer, says Dequoy. But he loved the company and its product, and wasnt going to give

up either without a fight. Dequoy had 30 days to come up with 30 percent of the selling price. To

raise the money he brought in a partner, Benoit Duplessies, as structural engineer. In early 2000 a

judge awarded control to Dequoy and Duplessis.

Winning the legal battle was just the first step to claiming Hydro-Mobile as his own.

Facing a confused staff and having no financial background, Dequoy built a new board of

directors to establish a sense of teamwork. I tried to change the company, he says, from a

culture of the men up there to a culture where everyone has responsibility.

Case F: Hydro-Mobile Inc. 2

Dequoy now surrounds himself with people who can help him push the company forward.

His new team came up with Hydro-Mobiless tactical mantra, the four Ss: service, support,

safety, and seminars. My strategy is to grow this company without selling it or going public,

says Dequoy. This will come through teamwork.

After the hardships, Dequoy has advice for other potential business partners: when

planning a wedding, always plan for divorce. Get everything in writing. And has he done this

with Duplessis? Yes, he says. You need to have good paperwork. Even more so when its

your friend.

Questions

1. How could the problems Dequoy faced have been avoided or minimized in the future?

2. How has Duquoy modified his leadership and communication style to facilitate company

growth?

yuuinu. Questions 1. How could the problems Dequoy faced have been avoided or minimized in the future? 2. How has Duquoy modified his leadership and communication style to facilitate company growth