North Toronto Auction now a Profit 500 company for 2014

PROFIT 500 says Canada needs more companies like the North Toronto Auction.

“The real drivers of our economy are the legions of often unassuming businesses working to gain more clients, to penetrate new markets, and to sell better mousetraps. These growing ventures are the unsung heroes of Canadian business. They create jobs during an era of downsizing … they bring cutting-edge technology to market.”

In business since 2003, the auction is the brainchild of auction professionals, Frank Panza, Stu Ralph and Matt Rispin, who saw the need for an auction in the growing regional market, just north of Toronto.

Originally, a business-to-business-only auto auction, North Toronto Auction has broadened its offerings to include the resale to the public of a variety of government-owned vehicles – snow ploughs, tractors and trailers as well as used cars and trucks - from the federal government, the province of Ontario and a number of municipalities.  

Since the gavel came down on that first auction in the spring of 2003, the NTA has added 20 acres to its property in Innisfil, Ont., and employs 51.

It reports revenue growth of 104 per cent in the years from 2008 to 2013.

“Wow! We feel honoured and humbled, yet still amazed at what we’ve been able to accomplish. It seems we are just getting started, said owner/partner Stu Ralph.

This is the 26th annual ranking of Canada’s fastest-growing companies. Profit 500, a Rogers Media company, says it evaluates businesses in all sectors on five-year revenue growth.

“Meaning that each company on the list has proven itself viable, found a stable group of customers and sustained growth for longer than many companies even exist.

“And in almost every case, they have a strategy to keep the momentum going.”