Maxfield Inc. Company Profile

Background

Overview

Maxfield Inc., established in 2002, is a leading manufacturer specializing in high-quality pressure vessel storage and transportation equipment for the compressed gas industry. The company serves sectors such as agriculture and oil & gas across Western Canada. With a strong emphasis on engineering excellence, Maxfield Inc. designs and manufactures equipment tailored for demanding applications, ensuring reliability and safety. The company operates under the ownership of TerraVest Industries, which acquired all outstanding shares on January 26, 2018.

Mission and Vision

Maxfield Inc. is committed to delivering innovative and dependable pressure vessel solutions that meet the evolving needs of the compressed gas industry. The company's vision is to be recognized as a leading provider of high-quality equipment, contributing to the safety and efficiency of its clients' operations.

Industry Significance

Operating within the compressed gas industry, Maxfield Inc. plays a crucial role in providing essential equipment that ensures the safe storage and transportation of gases. The company's products are integral to sectors such as agriculture and oil & gas, where the secure handling of compressed gases is paramount.

Key Strategic Focus

Core Objectives

Product Innovation: Continuously developing and enhancing pressure vessel designs to meet industry standards and client requirements.

Quality Assurance: Maintaining rigorous quality control processes to ensure the reliability and safety of all manufactured equipment.

Customer Satisfaction: Providing exceptional customer service and support to build long-term relationships with clients.

Areas of Specialization

Pressure Vessel Manufacturing: Designing and producing storage and transportation vessels for compressed gases.

Custom Engineering: Offering tailored solutions to meet specific client needs and industry applications.

Key Technologies Utilized

Advanced Welding Techniques: Employing state-of-the-art welding methods to ensure structural integrity and safety.

Material Science: Utilizing high-grade materials to enhance the durability and performance of pressure vessels.

Primary Markets Targeted

Agricultural Sector: Supplying equipment for the storage and transportation of gases used in agricultural applications.

Oil & Gas Industry: Providing solutions for the handling of gases in exploration, production, and refining processes.

Financials and Funding

Funding History

Maxfield Inc. was acquired by TerraVest Industries on January 26, 2018. Prior to this acquisition, the company operated independently, focusing on organic growth and reinvestment into its operations. Specific details regarding total funds raised and recent funding rounds are not publicly disclosed.

Utilization of Capital

Post-acquisition, the capital has been utilized to:

Facility Expansion: Enhancing manufacturing capabilities to meet growing demand.

Product Development: Investing in research and development to innovate and improve product offerings.

Market Expansion: Strengthening the company's presence in existing markets and exploring new opportunities.

Pipeline Development

Key Pipeline Candidates

Maxfield Inc. focuses on the continuous development of pressure vessels tailored for various applications within the compressed gas industry. While specific pipeline candidates are not publicly detailed, the company's commitment to innovation suggests ongoing efforts to enhance product offerings.

Stages of Development

Design and Engineering: Conceptualization and technical design of new pressure vessel models.

Prototyping: Creating prototypes to test and refine designs.

Manufacturing: Full-scale production of finalized designs.

Target Conditions

The company's products are designed to handle various conditions, including:

High Pressure: Ensuring safety and durability under high-pressure environments.

Corrosive Environments: Utilizing materials and coatings that withstand corrosive substances.

Anticipated Milestones

While specific timelines are not publicly disclosed, Maxfield Inc. aims to achieve:

Product Launches: Introducing new pressure vessel models to the market.

Certifications: Obtaining industry certifications to validate product quality and safety.

Technological Platform and Innovation

Proprietary Technologies

Maxfield Inc. employs proprietary welding techniques and material selection processes to enhance the performance and safety of its pressure vessels.

Significant Scientific Methods

Finite Element Analysis (FEA): Utilized to simulate and analyze the structural integrity of pressure vessel designs.

Non-Destructive Testing (NDT): Employed to ensure the quality and safety of manufactured products without compromising their integrity.

Leadership Team

Key Executives

President/Owner: Mr. Henry Maxfield Jr.

Professional Background: Overseeing company operations and strategic direction.

Contributions: Leading the company through significant growth and the acquisition by TerraVest Industries.

Manager: Mr. Randall Parker

Professional Background: Managing daily operations and ensuring efficient manufacturing processes.

Contributions: Implementing operational improvements and expanding the company's market reach.

Competitor Profile

Market Insights and Dynamics

The compressed gas equipment manufacturing industry is characterized by:

Market Size: A substantial market with steady demand driven by sectors like agriculture and oil & gas.

Growth Potential: Opportunities for expansion, especially in emerging markets and through technological advancements.

Industry Trends: A focus on safety, regulatory compliance, and environmental sustainability.

Competitor Analysis

Key competitors in the industry include:

RNG Pro-Tech: A company that previously owned the Crossfield manufacturing facility before its acquisition by Maxfield Inc.

Other Manufacturers: Various regional and international companies offering similar pressure vessel solutions.

Strategic Collaborations and Partnerships

Maxfield Inc. collaborates with TerraVest Industries, leveraging shared resources and expertise to enhance product offerings and market presence.

Operational Insights

Maxfield Inc. differentiates itself through: