Client Context
Hammond Power Solutions (HPS) is a Canadian-headquartered manufacturer serving North American and global markets. When the work began in 2020, the company was operationally strong, conservatively positioned, and generating steady organic growth — but its strategic ambition, growth narrative, and planning processes were no longer keeping pace with the scale of market opportunity or technological change.
The Mandate
HPS engaged Healy Consulting & Advisory to bring greater strategic rigour to its planning and decision-making, and to help the organization reset ambition, sharpen choices, and pursue materially higher growth over time.
What began as a redesign of the strategic planning process evolved into a long-term strategic partnership spanning CEOs, successive executive leadership teams, and the Board.
The Work
- Embedded, multi-year partnership working directly with the CEO, full executive leadership team, and Board
- End-to-end redesign of the strategic planning approach, shifting from incremental planning to ambition-led, choice-driven strategy
- Ongoing support across six consecutive planning cycles, leadership transition, and major strategic inflection points
- Senior-level facilitation, strategic counsel, and decision support beyond planning sessions, including board preparation, portfolio strategy, M&A and capital allocation discussions
The emphasis throughout was not on process for its own sake, but on forcing the conversations and trade-offs required to materially change the trajectory of the business.
Outcomes
Over the course of the engagement, HPS achieved a step-change in performance, ambition, and market position:
- In the last 5 years revenues have more than doubled from $369M to well over $800M, with the business now pursuing its next phase of growth beyond $1 billion
- Profitability expanded materially, with EBITDA margins improving and earnings per share increasing ~8x
- HPS became the best-performing stock on the TSX in 2024 and the third-best performer in 2025
- Strategic portfolio diversification through targeted acquisitions
- More than doubling of manufacturing capacity through new factory builds and major expansions
- A fundamental shift in competitive posture – from a transformer manufacturer selling into rigid verticals to a diversified electrification enabler and market leader helping reshape the North American electrical system
- Ambitions now stretching well beyond the $1B horizon, supported by a comprehensive repositioning: new brand, language, investor narrative, and confidence in how the company presents itself to markets, customers, partners, and talent
Client Perspective
“Mark’s style, although somewhat unconventional, has made a big difference. We now have the conversations we need to have, and the decisions we make are more fundamentally sound and bolder than ever.”
Bill HammondCEO, Hammond Power Solutions