Exocor Company Profile

Background

Established in 1997, Exocor has grown to become one of North America's leading providers of high-performance welding filler metals. The company's mission is to deliver superior service and quality products that are competitively priced and delivered on time, enhancing product value through technical support and innovative solutions. Exocor's product offerings include electrodes, wires, fluxes, strips, and consumable inserts essential for creating high-performance welds in demanding environments. These products serve a diverse range of heavy industries, including oil and gas, power generation, and infrastructure. The company's reputation is built on a superior product line, industry-leading technical knowledge, and exceptional support.

Key Strategic Focus

Exocor's strategic focus centers on providing high-quality welding filler metals tailored to the needs of heavy industries. The company emphasizes technical support and innovative solutions to address complex welding challenges. By maintaining strong partnerships with world-class vendors and continuously expanding its product offerings, Exocor aims to meet the evolving demands of its customers. The company's commitment to quality is underscored by its ISO 9001:2015 certification and memberships in industry organizations such as AWS, CWA, and GAWDA.

Financials and Funding

In 2009, Saugatuck Capital Company acquired a majority interest in Exocor through a leveraged recapitalization. In 2012, Exocor expanded by acquiring Controlled Products Group, a division of Special Metals Corporation. In 2018, Saugatuck Capital Company exited its investment in Exocor, selling the company to August Corporate Partners, a Vancouver-based investment firm.

Pipeline Development

Exocor continually enhances its product offerings to meet industry demands. In December 2023, the company introduced Custom Spooling Services, allowing for the reprocessing of full-sized spools for suitcase feeders or orbital TIG work and the reclamation of wire from broken spool hubs. This service aims to provide customers with more flexible and efficient welding solutions.

Technological Platform and Innovation

Exocor distinguishes itself through its commitment to quality and innovation in welding filler metals. The company's proprietary Executive Filler Metals brand offers unparalleled quality, consistency, and reliability, designed to exceed performance standards in today's demanding industrial environment. Exocor's technical support team provides expertise in filler metal recommendations and solutions to complex welding challenges, ensuring optimal performance for its customers.

Leadership Team

Exocor's leadership team comprises experienced professionals dedicated to the company's mission and growth. Paul Kinsella serves as the President, overseeing the company's strategic direction and operations. Michael Munich holds the position of Business Development and Technical Services, focusing on expanding the company's market presence and providing technical support to clients.

Leadership Changes

In 2018, Exocor underwent a significant leadership change when August Corporate Partners acquired the company from Saugatuck Capital Company. This acquisition marked a new chapter in Exocor's growth and development under new ownership.

Competitor Profile

Market Insights and Dynamics

The welding filler metals market is integral to various heavy industries, including oil and gas, power generation, and infrastructure. The demand for high-quality welding consumables is driven by the need for durable and reliable welds in critical applications. The market is characterized by technological advancements, stringent quality standards, and the necessity for technical expertise in product application.

Competitor Analysis

Exocor operates in a competitive landscape with several key players:

Lincoln Electric Holdings, Inc.: A global manufacturer of welding products, offering a comprehensive range of welding consumables and equipment.

ESAB (a division of Colfax Corporation): Provides welding and cutting equipment and consumables, known for its innovative solutions and extensive product portfolio.

Air Liquide Welding: Offers a wide range of welding consumables and equipment, focusing on industrial gases and related services.

These competitors emphasize product quality, technical support, and global distribution networks to meet the diverse needs of the welding industry.

Strategic Collaborations and Partnerships

Exocor has established partnerships with world-class vendors, including Special Metals, COR-MET, and Kobelco, serving as the sole approved supplier of these brands in Canada. These collaborations enable Exocor to offer a diverse and high-quality product range to its customers.

Operational Insights

Exocor's strategic considerations include maintaining a strong market position through superior product offerings and exceptional customer service. The company's expansion into the U.S. market, with the establishment of its headquarters in Buffalo, NY, and the recent move to a larger facility in the Buffalo area, reflects its commitment to growth and meeting customer demands. Exocor's focus on technical support and innovative solutions provides a distinct competitive advantage in the welding filler metals industry.

Strategic Opportunities and Future Directions

Looking ahead, Exocor aims to continue its expansion in the U.S. market, with plans to establish additional locations in central regions to better serve customers. The company's commitment to innovation, quality, and customer service positions it well to capitalize on growth opportunities in the welding industry. By leveraging its strong vendor partnerships and technical expertise, Exocor is poised to meet the evolving needs of its diverse customer base.