OTTAWA, May 22, 2014 /CNW/ - The CVCA - Canada's Venture Capital &
Private Equity Association, is pleased to announce that Robert J.
Deluce, Founder, President and Chief Executive Officer of Porter
Airlines Inc., is the recipient of CVCA's 21st Annual 'Entrepreneur of the Year' Award.
Established in 1992, the purpose of CVCA's 'Entrepreneur of the Year'
Award is to promote, highlight and celebrate the achievements of
Canadian entrepreneurs who lead private equity or venture-backed
Canadian companies. "The selection process focuses on individuals whose
entrepreneurial spirit, drive and success personify the qualities that
all venture capital or private equity investors seek to find in their
portfolio companies," said Sandra Bosela, Chair of CVCA's Awards
Committee and Managing Director, OPTrust Private Markets Group. "The
Committee looks to select exceptional entrepreneurs who create
employment opportunities, wealth for stakeholders and also give back to
the community," added Ms. Bosela.
Mr. Deluce established Porter Airlines with an objective to add
competition to Canada's scheduled air service landscape, providing
additional choice for travellers and offering a unique flying
experience. Porter Airlines was launched in 2006 with two Bombardier
Q400 aircraft and one route between Billy Bishop Toronto City Airport
and Ottawa. Mr. Deluce sought to offer complementary services that
were increasingly uncommon for other airlines, such as access to
airport lounges for all passengers, beer and wine onboard, and food
service. "By blending a refined flying approach and the convenience of
a downtown airport, with a cost efficient operating structure, Bob was
able to realize his vision," explained Samuel L. Duboc, President &
Managing Partner at EdgeStone Capital Partners. In addition to
EdgeStone Capital Partners, Porter Airlines' institutional investors
include OMERS Strategic Investments, GE Asset Management Incorporated
and Dancap Private Equity Inc.
Today, Porter has grown to a fleet of 26 aircraft flying to 20
destinations in North America. In 2013, the Company flew 2.5 million
passengers. Porter employs more than 1,450 individuals. It is an
Official 4 Star Airline® in the World Airline Star Rating® by Sytrax,
and rated Best Small Airline in the world by Condé Nast Traveler's
Readers Choice Awards.
Mr. Duboc described Mr. Deluce as "a driving force behind the growth of
Porter and Toronto's downtown core. He is one of Canada's most
knowledgeable and respected airline owners and operators. He is a true
entrepreneur and brings to the business a history of successfully
owning, financing, restructuring, operating and managing a number of
airlines in Canada, including White River Air Services, Austin Airways
and Canada 3000 Airlines."
Robert J. Deluce was honoured at the Gala Evening at CVCA's 2014 Annual
Conference in Ottawa, Ontario last night, on Wednesday May 21, 2014.
"I'd like to congratulate our 'Entrepreneur of the Year' winner tonight,
who has clearly demonstrated all the outstanding qualities the CVCA
looks for in this Award," said Mike Woollatt, Chief Executive Officer
of the CVCA. "Bob Deluce has overcome numerous hurdles and through his
hard work and unwavering dedication, he has been able to ensure
Porter's continued growth and has contributed enormously to the
community we all live in."
The CVCA is the voice of Canada's venture capital and private equity
industry. The CVCA's members manage the vast majority of private
capital that is designated to grow Canadian businesses. The CVCA
fosters professional development, networking, communication, research
and education, and represents the venture capital and private equity
industry in public policy matters. The CVCA was founded in 1974. For
more information, please visit www.cvca.ca.
SOURCE: CVCA - Canada's Venture Capital & Private Equity Association
For further information:
Lauren Linton, Director of Marketing, CVCA, 416 487-0519 firstname.lastname@example.org
Sandra Bosela, Chair of CVCA's Awards Committee 416 681-3019 email@example.com