Making It Happen, Making His Mark
Bill Canning (shown at left in photo above taken at customer location) has not quite reached his 2-year anniversary as COO at Compass Precision. That milestone will come in March 2025.
But Bill’s Compass tenure hasn’t been short on other milestones.
Over the last year and a half, Bill has successfully led Quality Products & Machine through a managerial transition. Bill has done something similar at Gray Manufacturing in 2024. He’s also helped support Strom Manufacturing and Bergeron Machine through industry and customer challenges.
Maybe most importantly, Bill oversaw the biggest joint project between operating companies to date in Compass history.
”When we drew up plans for what would become Compass, we envisioned great individual shops serving customers like no others,” explained CEO Gary Holcomb (shown second from left above with Compass’s VP of Sales Jim Miller second from right and Advanced Machining’s President Keith Felts on right). “But we also wanted collaboration among our companies in order to take on even more difficult and complicated projects.
“Compass has excelled at several of these collaborative projects, but none as impressive as the one Bill led last spring.”
That joint project was between Quality and Gray Manufacturing in Denver, NC. Together, the two operating companies overcame insurmountable odds to produce the largest component Compass has ever made, in two and a half weeks.
Bill spearheaded the landmark project. He referred to the joint venture as a sort of experiment, but with its success, Bill strongly suggested this is just the beginning of what Compass can do when operating companies work together.
“Our operating mantra is that everybody runs autonomously. But where we really have an advantage over our competition is that we can utilize resources on a larger level,” Bill said. “That was our first real big success.
“Because it did so well, number one, we got a great customer out of it. That’s going to benefit a few of our companies. But number two, people around the business saw what we did, and it went well, so it showed them a different way forward. It sparked other collaboration projects for us.”
It’s also sparked the presidents or general managers at each operating company to alter their mindset. Instead of their answer being simply “No” when asked if they can make a part and can’t, Compass operating company managers are changing their responses to, “No, but I know someone who does.”
“Our goal is always to best serve the customer. But we’re also trying to find ways to not leave work out there that we’d normally say no to,” Bill said. “That helps us and our customers.”
Early in his tenure, Bill became involved with Quality Products on a daily basis after President Kevin Farmer retired. Under Bill’s leadership, the operating company didn’t miss a beat and even grew its business.
As a long-term replacement for Kevin, Bill and the management team at Compass hired Dustin Jones in September 2024. Bill called the hire a “perfect fit.”
With Dustin in place, Bill is taking a little step back at Quality. That allows him more time to focus on the other three operating companies he oversees.
Not that he hasn’t been pulling double duty over the past year. With Bill’s guidance, Strom has continued to grow in 2024 despite one of its top customers getting acquired by a new parent company. That changed how Strom has done business with the client.
Bergeron predominantly serves the semiconductor industry, which has been a flat market over the past year. But like Strom, Bergeron is doing everything it can to grow and evolve.
Those challenges are potentially ending soon, but that doesn’t mean other obstacles aren’t coming. Bill expects challenges to persist because market and customer behaviors are always changing. That requires Compass to adapt.
“You don’t reach the finish line when it comes to a well-run business,” Bill said. “You’re constantly having to change and improve, otherwise, you’re going backwards.”
With new operating company collaboration, though, all eight Compass operating companies could have the opportunity for new work in different markets. Bill said that’s already happening at Quality, Gray, Strom and Bergeron.
Quality has new aerospace and defense customers since its collaboration project with Gray. Strom has also been introduced to new defense, aerospace and space clients, mostly through providing support for other Compass operating companies.
Bergeron is seeing more customers in other segments too.
In January, Bill assumed oversight duties of his fourth Compass operating company – Gray Manufacturing. At the time, the operating unit was going through a similar management transition as Quality Products did.
Evan Grose received a promotion to Gray general manager at the beginning of 2024. Under Evan’s leadership, with Bill mentoring him along the way, Gray has flourished.
Over the next year, Bill wants to see, not just the four operating companies he manages, but all of Compass’ units continue to grow organically. Bill strongly argued that Compass exists to support that growth.
He also wants to see his own personal growth. Bill aims to improve by becoming closer to Compass’ internal leadership team and enhancing his familiarity with the businesses of all eight operating companies.
The sky appears to be the limit for Bill, and in many ways, his career at Compass has only just begun to blast off.