Roger Taylor: Dartmouth’s Xeos Technologies Bring A Little Bit of Texas to Burnside | Domestic Business | Business

Nova Scotians are used to seeing local businesses sold and the new owner moving the company elsewhere.

Derek Inglis helps reverse the trend.

Inglis and his business partner, Gareth Howar, owners of Xeos Technologies Inc. In Dartmouth, on the leap of confidence last year, they acquired a company in Texas and moved it to Burnside Park.

“We almost didn’t do that,” said Inglis, President and CEO of Xeos and Reftek Systems Inc.

The pandemic has made us a little afraid that governments might not be interested in purchasing this type of equipment, and we didn’t know where the market would be. But he was an enthusiastic seller and we reached an agreement that we can’t afford to miss, and we went too far. “

Sister company Xeos Technologies is primarily engaged in oceanography. She has been in Nova Scotia for the past 16 years.

“So, during that trip (to build Xeos) we got to know a number of associated companies that weren’t necessarily in the oceanography field; Inglis told me in an interview.

Reftek, a seismic equipment design and manufacturing company, was founded in 1975. Xeos built some Reftek telemetry boxes for earthquake stations, and so Inglis got to know the owner.

A few years ago the original owner of a much larger company, Trimble Inc. , Which Inglis describes as “a major manufacturer of (global positioning) systems.”

“Trimble didn’t have much luck with her and decided she wanted to get rid of the original,” Inglis said.

“We heard about it and started making arrangements in early 2020 to purchase Reftek’s assets and move them to Nova Scotia.”

He said Reftek sells boxes and sensors for seismic equipment that are used to protect civilian infrastructure, monitor around buildings and structures, and earthquake early warning networks.

“So, buildings and bridges and civil infrastructure, when they are in earthquake zones, anywhere they get a little noisy, building owners and designers … are required by law to monitor the structure because if the earthquake exceeds a certain threshold, they must go out and do inspections and searches. About cracks and those kinds of things. “

Inglis said the pandemic hit the middle of the negotiations but they went ahead with the deal anyway.

He said Halifax is the “earthquake capital of the world,” but the joke of course is that the company that built around earthquake monitoring is now located in a place where there is rarely seismic activity.

“We transported a massive amount of stuff – there must be five loads of tractors and trailers of equipment and inventory – here (to Burnside) and put it inside a small building. Everything is inside with (Xeos) our current company. So, we’re kind of in tight quarters, “He said.

“We are in the process of negotiating a new 10,000-square-foot lease in Burnside, and hopefully we’ll move into it in a couple of months, and start operating separately from Xeos there.”

There are a lot of challenges with the new business.

“I mean, this is real work in progress,” he said.

“We have a lot of business in California, all over the world. We maintain a network of seismic equipment in India and China.”

He said about 95 percent of Reftek’s sales take place outside of Canada. Of course, COVID means travel is restricted.

Despite all of that, Inglis said, “We’re very happy. We’ve only been in this for seven months now, but we’re really profitable. So, I’m happy with that so far.”

Dartmouth became the headquarters and production center of the company, with about a dozen companies dedicated to the effort. The company maintains six other employees in Texas who have remained there as part of the acquisition.

It was announced this week that the Canadian Atlantic Opportunities Agency had loaned Reftek Systems $ 420,375 to cover the cost of relocating to Nova Scotia and to support some starting salary and hiring a new salesperson.

Inglis said that at its peak, Reftek’s annual revenue was in excess of $ 20 million.

“He’s a far cry from that now, of course, but we hope to get him to point to that number very soon.”

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