A northern Saskatchewan investment firm is expanding its portfolio by buying a 50 per cent stake in a Prince Albert company with a long history of serving that city and beyond.
Athabasca Basin Development now owns half of Tru-North RV, Auto and Marine.
The CEO of Athabasca Basin Development says the company is a good fit.
Geoff Gay says Tru-North is known for providing exceptional customer service and has now expanded into the sale of high quality manufactured homes.
He says Athabasca needs to make investments that provide good return to shareholders, long-term stability and growth for the company.
“We just feel it is a good long term sector to be in and the management team is entrepreneurial as evidence by the recent start-up of the selling of the manufactured homes,” he says. “So, we like to see management teams that are not only managing their existing business but they are always looking for new opportunities.”
The shareholders of Athabasca Basin Development are the seven far northern communities in Saskatchewan.
Gay says Athabasca is looking to further expand this year and he is encouraging business owners looking for an investment company to consider the firm.
He says in addition to supporting strong local companies, Athabasca is a big supporter of the Aboriginal community and is looking for opportunities to help expand employment opportunities.
“Each company is a little bit different, depending on whether there is a demand for trades where we haven’t been as successful as we like but certainly long term it would be ideal for more Aboriginal participation in any of the companies that we purchase.”