Frank Ralphs, a company out of Montreal, manufactures composite panels used predominantly in the rail industry as well as other industrial applications. Companies in the rail industry find that having a “Made in the U.S.A.” label can be beneficial to growing their business and sales in the U.S. There are many opportunities for U.S. government contracts for public transit projects. Frank Ralphs was interested in capturing more of this business and adding final assembly in the U.S. to their offerings.
The company was connected to InBN by a partner organization after identifying an acquisition opportunity in the region in 2018. A competitor was selling their operations in Cattaraugus County and Frank Ralphs was excited about the chance to expand to the U.S. through this avenue.
InBN facilitated cross-border due diligence meetings, including conversations around accounting and legal considerations, immigration options, and HR and staffing strategies. Our research team helped the company understand the labor market near their new operations and understand the pay scale for the jobs they would be hiring. InBN also assisted the company with a successful application the Excelsior Jobs Program – a refundable tax credit program through New York State.
The company ultimately decided to take the strategic opportunity to acquire the WNY company, invest capital, and add positions to the existing personnel. In the next five years, the company hopes to employ about 56 people at their Buffalo Niagara facility and invest more than $2 million in the operation.