FROM ACQUISITION TO GRADUATION: COLM ENGINEERING’S GROWTH JOURNEY
Colm Engineering Ltd. (CEL) was established by Brian Colm, P.Eng. in February 2000, building a reputation for quality electrical engineering services across Canada and the US. The company specializes in power distribution, substation design, power generation, energy storage, and outdoor lighting services for EPC companies, developers, utility companies, and municipalities.
When entrepreneur Hussam Haroun identified Colm Engineering as the perfect acquisition target, he faced a common challenge: traditional bank financing wasn’t moving fast enough to close the deal. Through an introduction from Colm’s CFO to Jonathan Brindley and his team, Hussam discovered a financing solution that prioritized speed and partnership over lengthy approval processes.
“I was in the process of buying Colm and wanted to quickly close and resolve financing. The bank wasn’t ready to work with us that fast.”
FAST AND FLEXIBLE FINANCIAL SOLUTIONS
The team’s acquisition financing and invoice factoring services enabled Hussam to complete the purchase while ensuring operational stability. The onboarding process stood out for its efficiency and thoughtful approach to understanding the business.
“It was fast and flexible, carefully thought out. Jonathan called it ‘financial hygiene’ to describe the company’s financial performance. My company has good financial hygiene—I never thought of it that way before Jonathan, but I love that term.”
TRANSFORMING CASH FLOW CYCLES
The partnership transformed Colm Engineering’s cash management, reducing payment cycles from 60-90 days to approximately 5 days. This dramatic improvement provided the stability needed for growth-focused decision-making rather than constant cash flow concerns.
“Consistency in cash management was key. My KPI is cash stability, and Capitally allowed me to have that stability. They would help finance up to 80%, as long as we delivered.”
A TRUE PARTNERSHIP EXPERIENCE
Beyond financing, the relationship offered something unique in Hussam’s experience with various funding sources—genuine partnership and collaboration. The team’s responsiveness and flexibility proved invaluable during complex business situations.
“It felt like a true partnership. I worked with angel investors in the past, worked with the government, but never worked with a team like Capitally that felt like a partnership. Didn’t know what to expect, definitely not so seamless and easy.”
This partnership approach enabled quick resolution of complex scenarios, such as joint venture qualifications that required coordination between multiple parties—something that would have taken much longer through traditional banking channels.
ENABLING GROWTH AND STABILITY
The financial stability provided by the factoring solutions allowed Colm Engineering to pursue opportunities that wouldn’t have been possible otherwise. The company could take on new clients, expand operations, and build the foundation necessary for long-term success.
“There are so many delays in business from getting the sale to finally getting paid. Capitally makes it about 5 days, not at least 60 to 90 days.”
GRADUATING TO TRADITIONAL BANKING
After building consistent performance and demonstrating financial stability, Colm Engineering successfully transitioned to traditional bank financing—what the team proudly calls “graduating.” This transition represented the ultimate success of the partnership approach.
“Stability allowed us to take the time we needed to get the bank reengaged. Now that we’ve created stability with Capitally, we’re going for higher profitability.“
LOOKING AHEAD WITH CONFIDENCE
“If you have good customers and growth is limited by growth capital, then it’s a great idea. If you’re thinking about growth and are willing to pay for that, Capitally can give you that as well as mentorship. Get your financial hygiene in order.”
THE ENTREPRENEURIAL IMPACT
When asked to summarize the partnership’s impact, Hussam’s response captures the transformational nature of the relationship:
“As an entrepreneur, my plans would have been very different if it wasn’t for Capitally. Capitally never limited me—it was up to me and my customers.“
Colm Engineering’s journey from acquisition financing to bank graduation demonstrates how strategic alternative financing can enable entrepreneurs to seize opportunities, build stability, and create the foundation for sustainable long-term growth.
“Your support and your team’s collaboration to our small business has been fantastic to help us achieve some key milestones. I am sincerely thankful and grateful for your partnership.“ – Hussam Haroun, President & CEO, Colm Engineering Ltd.
