SASKATOON, Feb. 7, 2012 /CNW/ - Golden Opportunities Fund Inc.
("Golden") is pleased to announce it has led a major transaction to
complete the management buyout of Reho Holdings Ltd. operating as
Warman Home Center and includes all of its various subdivisions: Warman
Homes, Warman Truss, Warman Metals and Warman Cabinets located in
Warman Home Center with 185 employees and over 80 million dollars in
sales has grown rapidly from the construction activity in Saskatchewan
with five different integrated subsidiaries. They have been the
recipient of many awards including 2009 and 2010 Saskatoon & Region
Home Builders' Association Customer Choice Award for Single Family
Builder, 2008 Western Retail Lumber Association Inc. Industry
Achievement Award, and named as one of the Top 100 Saskatchewan
Companies in 2008 and 2009 by SaskBusiness Magazine and 2009 by the
StarPhoenix and LeaderPost.
Golden led the investment syndicate with an investment of 13.78 million
dollars taking a major position in the General Partner and Limited
Partnership. The long standing executive management team also
reaffirmed their commitment and excitement for the company's future by
acquiring a major interest in the new structure while current majority
owner of the company, David Holst will continue to be active on the
board of directors of the company. Other leading Saskatchewan
institutional investors; Lex Capital Partners LP, PIC Investments Group
Inc. and Hathersage Holdings Inc. also partnered with Golden
Opportunities with an investment in the syndicated financing.
Doug Banzet, CFO of Golden indicates, "In these times of public market
volatility you are seeing the largest pension funds in Canada move
towards transactions that provide attractive, stable and consistent
long term yields. This investment transaction provides that for the
Fund's shareholders in a Province that is forecasted to continue to
lead the country in economic growth over the foreseeable future."
Saskatchewan's economy is forecasted by RBC to lead the country again in
2012 and 2013 due to a booming construction industry and a rapidly
expanding housing market. The location of Warman Home Center in one of
the fastest growing cities in Saskatchewan and gateway to the
Province's abundant northern resource makes this investment well
situated for growth beyond its proven historical track record of
service and profitability.
"This investment compliments our strategic positioning of the Fund that
has occurred in the past 18 months to be dominantly weighted in
Saskatchewan oil and gas, but then balanced with a portfolio of real
estate backed healthcare facilities throughout Saskatchewan to care for
our elderly and a portfolio of companies capitalizing on the New
Saskatchewan, that provide stable attractive long term earnings." Say's
Grant Kook President and CEO of Golden. "This newest transaction of
$13.78 million reaffirms our commitment in a major way to that
About Golden Opportunities:
Golden Opportunities Fund Inc. is Saskatchewan's longest standing
provincial labour-sponsored investment fund, having raised
approximately $200 million in share capital to date from approximately 23,500 shareholders. The
Fund is managed by Saskatchewan's largest private venture capital fund
Manager, Westcap Mgt. Ltd., with over $500 million under management.
Westcap specializes in the development, launch, and fund management of
niche funds focused on the New Saskatchewan.
Neither the Saskatchewan Financial Services Commission nor the Manitoba
Securities Commission has approved nor disapproved the information
SOURCE Golden Opportunities Fund Inc.
For further information:
Grant Kook, President/CEO or Doug Banzet, COO
Golden Opportunities Fund Inc.
830 - 410 - 22nd St. E. Saskatoon, SK
Tel: (306) 652-5557 Fax: (306) 652-8186