Savaria Corporation is a Canada-based global accessibility company, designing and manufacturing home elevators, stairlifts, wheelchair lifts, and commercial accessibility solutions. The company also operates a Patient Care division, offering ceiling lifts, slings, medical beds and pressure-management products for long-term care, hospitals and home care.
What are the most important changes from the Savaria One programme, and how have they set up your next phase of growth?
With the acquisitions over the last 10 years, we were very decentralised. We would buy a company, set a budget, and check in quarterly. Today, we’ve moved to global functions—procurement, operations, marketing, R&D—so we act more as one company. People want to participate across regions, not just stay in one division, and now they collaborate more than ever, travelling, exchanging ideas, and sharing products across markets.
Another key change is encouraging ideas from the bottom up. Before, it was more top-down—this is the budget, this is what we do. Now people contribute ideas, not always about money but about improving processes. We’ve structured over 400 initiatives into a system with ownership and timelines. That structure, supported by consultants, helps ensure real progress.
What advantages and limitations does Canada present as a base for scaling an international industrial business?
Our head office is still in Montreal, and many decisions are made in Canada. We do a lot of R&D in Toronto, and global marketing is based here. We’re a Canadian company, listed on the stock exchange, and Canada has been a strong base where we are a leading player.
But we need to expand internationally. Canada is a good platform, but growth comes from markets like Australia, Europe, and the US. For example, Australia has a similar culture, making it easier to grow there. So we use Canada as a base but operate increasingly as a global company. For us, getting ideas from employees and having them participate in change has been key. That involvement drives improvement and engagement across the business.
How significant is the ageing population as a growth driver over the next decade?
It’s definitely important.
Many people want to stay at home as they age, but often don’t have a plan. So educating architects, contractors, and designers on solutions is critical, because they influence recurring business and the end user.
But it’s not just ageing—it’s also urban density. In cities like Toronto, more multi-floor townhouses are being built. Adding an elevator can be a strong investment and increases accessibility. The goal is to make home elevators as standard as things like air conditioning or generators.
How do global trade dynamics and supply chain shifts affect your strategy?
We’re fortunate that most finished goods are not subject to tariffs, and we have mitigation plans for spare parts. We’ve also expanded manufacturing in the US—producing the Eclipse home elevator in South Carolina—to localise production and reduce shipping costs.
We’ve diversified supply chains with factories in China, Mexico, and local regions. The goal is to manufacture within each continent to remain flexible and reduce risk, while maintaining strong lead times, especially in markets like Australia.
What defines your approach to acquisitions and growth?
We typically acquire either dealers or new products. For dealers, we prefer existing partners of a certain size, where ownership transitions are natural. We avoid buying competitors’ dealers in the same market to prevent disruption.
For products, acquisitions allow us to expand offerings, reduce manufacturing costs through our supply chain, and distribute through our dealer network. This creates value for both us and our dealers.
What needs to change for Canada to produce more globally competitive firms?
More automation is key. In areas like stair lift manufacturing, automation makes us competitive, but lower-volume or custom work can still be manual.
Continued investment in automation and R&D is essential. Companies need differentiated, innovative products to remain competitive and productive.
What are the key levers to reach $1.6 billion in revenue by 2030?
We target 7–8% organic growth. The market naturally grows 3–5%, and we add pricing initiatives, market share gains, and new market entry. We also invest in R&D, with 62 people focused on improving and developing products.
On top of that, acquisitions should contribute 4–5% annually. Combined, these drivers support the $1.6 billion target, though growth may not be perfectly linear.
