The Business Review: Troy Industrial Solutions is expanding its client base to meet David Barcomb’s goal of $20 million revenue.
Barcomb, Troy’s general manager, said the company is south of $18 million.
“We’re trying to expand on our 3,000-client database,” Barcomb said. “We’re also trying to grow the business within our existing customer base.”
The company, which employs 68 people at its Watervliet, NY headquarters, repairs electric motors that run industrial machines.
Clients include Finch Paper, Passonno Paints, General Electric and the Watervliet Arsenal.
Troy Industrial created a position to help meet its goals. Business Development Manager Josh Trombley was hired in January to identify and develop accounts and markets not currently serviced by Troy Industrial.
“There were accounts not being serviced,” Barcomb said. Trombley will help Troy’s five territory managers who visit clients and troubleshoot problems in the field.
Barcomb said its too early to tell if the creation of the business manager position will help because its only been active for four months. “It would be a good year if we added 20 clients,” Barcomb said.
The company is actively looking at acquisitions to expand its market area. It acquired B&J Electric Motor Repair, a Connecticut small-machine maintenance business, six months ago.
Barcomb says Troy Industrial is looking to create a system of branches. The Watervliet operation will continue to serve as the main hub. “Our acquisition focus will be on central and southern New England,” Barcomb said.
Barcomb says the electro-mechanical repair part of the business, which makes up 65 percent of total sales, will grow the most this year.
Troy Industrial Solutions is forecasting 8 percent growth over last year. That alone won’t be enough to hit Barcomb’s $20 million revenue goal.