Background and challenges
A leading provider of environmental remediation and geotechnical construction services in North America was searching for new opportunities for growth after encountering economic and regulatory headwinds in its core markets. Although the company served a diversified set of industrial end markets, it wanted to better understand future growth opportunities across various customer, service and channel segments of the market and engaged L.E.K. Consulting to help.
Approach and recommendations
We conducted an assessment of recent market and regulatory trends across market segments most relevant to remediation services providers. Our analysis focused on the company’s core service segments, as well as potential growth opportunities across both end markets and channels to market. Based on our analysis, the company decided to meaningfully enter a new channel segment which it had previously not served.
Results
By pursuing the channel expansion opportunities our work highlighted, the company successfully grew its top line by more than 50% within a single year and continues to penetrate this previously untapped part of the market.
