23. QPE Fabrication

Revenue: $6.5 million
Growth: 137.2%
Founders: Grant Tinney (55), Peter Parrish (56)
Head Office: South Australia
Employees: 21
Industry: Manufacturing, transport and logistics
Website: qpefabrication.com

QPE founders Grant Tinney and Peter Parrish’s key piece of advice for business owners is inspired by 1999 smash hit Galaxy Quest: “Never give up, never surrender.”

Evidently, the two are also inspired by WWII general Heinz Guderian, as they also advise “there are no desperate situations, only desperate people”.

Inspiring quotes aside, the founders can take credit for $6.5 million fabrication company QPE Fabrication, which specialises in manufacturing and refurbishing rail sector components, and has been running for five years.

With more than 137% growth over the past three years, the business grew at a rate the founders were unprepared for, leading to Tinney undertaking a high growth business course at the University of South Australia, which helped him manage the rapidly expanding business.

The founders have lofty goals for the future, eyeing off eventual revenues exceeding $10 million within the next two years, while still maintaining a more than 15% net margin.

The pair also wants to make sure they maintain a broad focus on the manufacturing industry, noting it’s shift away from niche areas in the last decade.

“Manufacturing has changed rapidly over the past 10 years from a strong auto and mining focus. Today we need to maintain a wide industry sector customer base to secure sustainability and growth,” they say.