Transit Inc. has been recognized for its overall performance and sustained growth with the prestigious Best Managed Companies in Canada award, which rewards excellence in Canadian private companies.
To be rewarded, companies are assessed on their leadership in the areas of strategy, culture, engagement, capacity, innovation, governance and financial performance.
“For Transit, this is an important recognition that highlights a turning point towards reaching new heights. The greatest source of pride is the exceptional commitment and trust of employees who are likely the direct result of a sincere desire for transparency on the part of management. We believe that to mobilize, we must share, be transparent,” said Transit Inc. president Stephan Guay.
Canada’s Best Managed Companies program recognizes Canadian-owned and managed companies for their world-class innovative business practices. Every year, hundreds of businesses participate through an independent and rigorous process.
“To make changes in a company, you need leadership, a vision but above all an incredible team spirit for all employees to feel involved in a common project. The automation of our processes, expanding our distribution centre, and the modernization of our headquarters have allowed transit to grow exponentially. All of this would not have been possible without our teams actively participating,” said Guay.
2023 Best Managed Companies have things in common, including putting their people and culture first, focusing on their ESG strategies and redoubling efforts to accelerate digitalization.
“This year’s Best Managed winners have demonstrated courage, ingenuity and creativity in exploring new opportunities for advancement,” said Brigitte Vachon, Deloitte partner and leader of Canada’s Best Managed Companies program in Quebec.
“We are extremely proud to highlight the impressive achievements of companies like Transit in a rapidly changing business world. Their successes demonstrate the importance of strong leadership and foresight in driving long-term growth.”
“CIBC is proud to sponsor Canada’s Best Managed Companies Program, which has been celebrating leading organizations working to build a better future for the past 30 years,” said Blair Cowan, executive vice-president, head of commercial and real estate banking at CIBC. “Companies like Transit, which successfully deliver innovative solutions for long-term growth and investment, demonstrate our country’s high standards of excellence.”
About Canada’s Best Managed Companies Program
Canada’s Best Managed Companies program continues to be the mark of excellence for privately owned Canadian companies. Every year since the launch of the program in 1993, hundreds of entrepreneurial companies have competed for this designation in a rigorous and independent process that evaluates their management skills and practices.
The awards are granted on four levels:
1) Canada’s Best Managed Companies new winner (one of the new winners selected each year);
2) Canada’s Best Managed Companies winner (award recipients that have re-applied and successfully retained their Best Managed designation for two additional years, subject to annual operational and financial review);
3) Gold Standard winner (after three consecutive years of maintaining their Best Managed status, these winners have demonstrated their commitment to the program and successfully retained their award for 4-6 consecutive years);
4) Platinum Club member (winners that have maintained their Best Managed status for seven years or more).
Program sponsors are Deloitte Private, CIBC, The Globe and Mail, Salesforce and TMX Group.
For more information, visit www.bestmanagedcompanies.ca.
Transit, which opened Lévis in 1971, is now the largest distributor of auto parts in eastern Canada. It manufactures parts of superior quality and technologically advanced.
Over the past 25 years, Transit has experienced rapid and sustained growth. Through sound management and strategic vision, Transit has distanced itself from its competitors. But it is by fulfilling its promises to offer an ultra-fast service, a vast selection of products and an outstanding support from its dedicated team of account managers that it was able to establish itself as the reference in the automotive parts and accessories market.
The completion of an ambitious project to expand and automate its distribution centre now allows it to be competitive while consolidating its status as an industry leader. These innovations will also allow Transit to gain market share and conquer an even larger territory in the coming years.