INVESTING IN THE PLACE WE CALL HOME
For more than 30 years, Westcap Mgt. Ltd. has been investing in Saskatchewan companies. As fund manager for Golden Opportunities Fund Inc., the province’s first local venture capital fund, as well as a family of private equity funds, Westcap invests capital where it is needed to maximize value for its shareholders. Recently, yet another well-known Saskatchewan company joined the Westcap family.
In January 2020, Westcap announced a $63 million investment into Degelman Industries, a long-standing, family-owned company with deep roots in the province and a major presence in the agriculture and industrial sectors in North America and around the world for its premium equipment. “The Degelman family started their investment search in early 2019, with plans for growth and succession,” says Grant J. Kook, president, CEO and founder of Westcap. “They were looking for a strategic partner and our interests were aligned.”
Westcap and Degelman explored what a partnership might look like and discovered they were likeminded about corporate values, culture and more. Over the year, the two organizations developed a plan for how they could work together. “It’s a good fit for both companies,” says Kook. “Degelman has a great track record built over 58 years with an experienced management team, solid growth in many markets, and they’re an innovation leader which is key to future growth. For Degelman, we provide capital for them to grow what they’re good at. They’re an industry leader and we’re going to help them stay that way.”
Degelman will use the investment from Westcap’s Golden Opportunities Fund and the Westcap MBO II Investment LP to manage succession planning for the company’s owners, and to grow its innovative product offerings through its dealer network currently found across Canada, the U.S. and six other countries. In Westcap, Degelman has found a trusted partner that adds value and has Degelman’s growth and success in mind.
The Funds allow Saskatchewan shareholders to benefit from these investments in long-standing, quality brands that are poised for growth. Shareholders can also take pride in knowing that their investments are playing a part in the success and continued growth of local companies while keeping these legacies here at home to further impact local jobs and benefit the local economy.
For other Saskatchewan companies looking for capital like Degelman, Westcap’s door is always open. “To date, we’ve completed over $1 billion in transactions in more than 200 companies,” says Kook. “We’re well-known to the financial community, and we’re always open for a discussion on how we can add value to Saskatchewan enterprises.”