George is the magazine for St.George Bank’s corporate customers. Aimed at executive-level readers, it features customer case studies, news, articles on emerging business and management trends, product information, lifestyle features and more.
Issue link: http://viewer.e-digitaleditions.com/i/48224
How St.George helped Civmec ... has adopted the philosophy of 'a safe day is a good day', striving to maintain zero injuries to employees. Doing things differently While Civmec has experienced exponential growth over the past two years, it has not simply focused on expansion. To ensure that the safety of its workforce is paramount, Civmec has implemented a stringent safety program and has adopted the philosophy of 'a safe day is a good day', striving to maintain zero injuries to employees, while also vowing to avoid any damage to the environment. The company is confident that the combination of a modern, hi-tech facility and a skilled construction workforce will enable them to win and deliver a large volume of engineering and construction work on Australian projects. Jim believes robust business systems are a crucial factor behind the company's success. "We have hit our targets," he says. "Personally, I think that has been the secret to the whole success – deciding this is what we are going to do, these are our targets and work from there." Civmec has struck a balance between a growth strategy and getting the basics right, such as its safety and quality controls. Jim says it is essential that management pays attention to both the finer details and the big picture; "If you don't tick those boxes, then you can't get to the next step." With more than two years of outstanding achievements behind them and a healthy (and growing) list of clients, Civmec's outlook is positive. Pat is confident that a proven formula, strong planning, a skilled team, and a strong focus on project delivery will contribute to ongoing success of the company. "It's the company as a whole that's brought us through." The Civmec success story underscores the value of having a strong relationship with a trusted financier. When Jim Fitzgerald acquired the construction and engineering company in 2009 with his business partner Pat Tallon, he already had longstanding financial connections with St.George. After Civmec presented a comprehensive budget that included cash-flow forecasts and which also set out business goals, both parties felt confident about the prospects for the initiative. The big leap came when Civmec needed financing to construct a massive fabrication facility on 70,000 square metres of land in Henderson, Western Australia. After assessing the initiative and acknowledging Fitzgerald's previous strong banking record, St.George stepped up to provide the company with property and equipment financing, in addition to access to working capital. The facility has since transformed the business and allowed Civmec to service a growing band of blue-chip clients in the resources sector. Jim says that it is vital to align with a bank that understands the nature of the business in which a company is operating. "To be honest, we just felt comfortable with St.George," he says. "They understood exactly where we were coming from. They understood this industry and they understood our projections." www.stgeorge.com.au/george George 31