CoolDrive Auto Parts is the only winner from the automotive industry. This is its first entry in the awards.

The company’s CEO, John Blanchard, said he was delighted with CoolDrive’s inclusion in the list and in winning an award.

Acknowledging the award, Mr Blanchard said: “Over the past 40 years, CoolDrive Auto Parts has grown to become Australasia’s largest family-owned and operated aftermarket automotive component supplier, with an industry-leading level of service and expansive product range.

“Driving the CoolDrive business is our mission to ensure we not only meet but exceed our customer’s expectations. We shall continue to invest substantially towards expanding the business, improving relationships with customers and suppliers, and providing our staff with secure employment with opportunities for advancement.

“We are honoured to have the hard work we have put into our strategy, approach to innovation and capabilities recognised externally by Deloitte and the Best Managed Companies judges in this way, particularly in our first year of entering the program.

Deloitte Private partner and Best Managed Companies Asia Pacific leader, Natalie Faull, said: “Our Best Managed Companies program is about celebrating the passion, focus, dynamism, resilience and growth that typify Australia’s best private companies.

“They are often disruptors, they are significant employers, they are always looking for growth and success and they are strong supporters of their local communities.

“This year, the program has really demonstrated just how well our best managed private businesses, and that includes CoolDrive Auto Parts, have emerged from the COVID pandemic as purpose-driven, disciplined organisations, innovators and industry leaders that are navigating the future with confidence.”

Now in its third year in Australia – and run in association with Google Cloud and the Commonwealth Bank – Best Managed Companies (BMC) identifies and celebrates privately-owned and managed companies that are setting the highest standards of business performance, and shines a light on the power of private businesses as innovators, employers and major contributors to Australia’s economy.

In a rigorous and independent assessment process that includes benchmarking against an evaluation framework applied to a strong community of more than 1300 best managed private companies across the world, the BMC judges challenged and evaluated the strengths of applicants – and the winners – across four key pillars: strategy; culture and commitment; capabilities and innovation; and governance and financials.

The 2022 Best Managed Companies winners are: 

• AC3 (Sydney): IT cloud services
• ADCO Constructions (Sydney): commercial construction
• CoolDrive (Mebourne): auto parts importer and wholesaler
• Flinders Port Holdings (Adelaide): port and logistics services
• InfoTrack (Sydney): legal technology platform
• Kinetic IT (Perth): IT solutions
• Merricks Capital (Melbourne): fund manager and investment specialist
• TSA Group (Perth): CX outsourcing and technology

Deloitte said that winners were encouraged to re-join the program each year to continuously challenge, improve, and grow their companies and maintain their Best Managed Companies status.

InfoTrack has qualified as a winner for a third successive year. ADCO, Flinders Port Holdings and Kinetic IT are now two-time winners.

“We have seen their focus on ESG, as a strategic and brand value driver and differentiator, grow further,” Ms Faull said.

“They want to lead by example, and are proud in identifying the achievements they have made, and the areas in which they want and need to invest.

“And we have also seen another incremental shift in their focus on their people and their wellbeing. They are using workplace flexibility, talent development and both financial and non-financial reward to not only retain their people, support diversity, and as an incentive to attract talent.”

Deloitte Private Managing Partner, Andrew Culley, said: “Out of COVID we have seen our Best Managed Company winners demonstrate the agility and resilience that are needed to drive sustained success.”

The Deloitte Best Managed Companies program was established in 1993 in Canada and has become the most significant business award of its kind. The program is active in 46 countries in the Americas, Europe and Australasia, and is launching across Africa.

By Neil Dowling