Golden Opportunities Investment Keeps Local Export Leader Rooted In Saskatchewan

PRESS RELEASE

SASKATOON, SK – Golden Opportunities Fund Inc. (“Golden”), Saskatchewan’s local investment Fund, is pleased to announce its recent investment in Degelman Industries LP (“Degelman” or the “Company”) which was completed in syndication with the Westcap MBO II Investment LP (the “MBO II Fund”), both funds are managed by Westcap Mgt. Ltd. (“Westcap”).

Founded in 1962, Regina-based Degelman is widely recognized for the design and manufacturing of premium equipment for the agricultural and industrial sectors. With a focus on continuous innovation, the Company designs, manufactures and sells over 50 products across the globe through an extensive network of dealers in Canada, United States, Russia, Australia, Germany, Kazakhstan, South Africa and Ukraine.

“Degelman is a Saskatchewan manufacturing leader with international reach,” says Grant Kook, President and CEO of Westcap. “This investment will continue to drive economic growth in our Province by fueling Degelman’s success here at home and ensuring that its innovative, high-quality and diverse products and product lines continue to reach various sectors and markets across the world.”

Degelman has grown to 269 employees including an experienced management team which collectively have more than a century of expertise and success and are now part of the ownership group. Degelman’s Regina-based head office of approximately 169,000 square feet of space includes a state-of-the-art manufacturing facility, as well as a research and development facility and design team where the Company introduces its new, innovative and leading-edge solutions.

The Company’s commitment to continuous improvement, innovative product design and manufacturing efficiency has driven its success since the introduction of its first rock picker product in 1962 which, due to its robust design, continues to be used on farms. Today, its leading-edge facilities produce rock pickers, tillage equipment, landrollers, heavy harrows and bulldozer blades which are widely recognized for their high-quality, durability and reliability. Degelman’s Pro-Till® product line is a market leader in North America and its bulldozer blades are sold in every province and state across the continent.

“Thanks to our experienced management team and dedicated employees, we have achieved outstanding success and growth, earning our reputation for agricultural and industrial equipment that exceeds expectations and outperforms. Our new relationship with Golden Opportunities and Westcap will solidify our roots here in Saskatchewan with a partner that understands the importance of our local culture, will foster new growth and will propel our plans to grow our brand and our business globally,” says Paul Degelman, on behalf of the Degelman family.

About Degelman Industries
For nearly 60 years, Degelman Industries has pioneered the perfect balance of engineered toughness and intelligent design. From our state-of-the-art manufacturing and R&D facilities in Regina, Saskatchewan, Canada, Degelman works tirelessly to provide new and innovative solutions to meet the need for performance, quality and durability in today’s agricultural and industrial equipment. Learn more at degelman.com.

About Golden Opportunities Fund Inc. and Westcap Mgt. Ltd.
Founded over 20 years ago, Golden is the first and longest-standing Provincial Retail Venture Capital (RVC) Fund in Saskatchewan. Golden makes strategic investments in high-growth sectors of the economy to maximize shareholder value. The Fund is managed by Westcap Mgt. Ltd., a leading private equity and venture capital fund manager for 30 years that has completed over $1 billion in transactions in more than 200 growth companies. Learn more at GoldenOpportunities.ca or WestcapMgt.ca.

For more information, please contact:
Grant Kook, President and CEO
Westcap Mgt. Ltd.
830, 410 – 22nd Street E.
Saskatoon, SK
Phone: (306) 652-5557

Wanda Hunchak, Executive Vice President
Westcap Mgt. Ltd.
830, 410 – 22nd Street E.
Saskatoon, SK
Phone: (306) 652-5557