Investing in expensive equipment in an effort to diversify services and enter new markets poses a calculated risk, especially when it involves purchasing hydroexcavating vacuum trucks that cost $450,000 or more. But when done strategically, it can pay big financial dividends, as evidenced by Fairway Electrical Services, an Ontario-based contractor.
During the last three years, the company — based in Ancaster, about 40 miles southwest of Toronto on the western end of Lake Erie — has gradually transformed from a commercial electrical contractor into a more diversified underground-utilities company, with an emphasis on hydroexcavating (branded under the name Fairway Utilities). In
