CALGARY, Sept. 2, 2014 /CNW/ - TriWest Capital Partners, in partnership with the senior management team, is pleased to announce that it has acquired a majority interest in Broda Group Inc. This investment represents TriWest's tenth portfolio company in Fund IV.
Founded in 1957, Broda Group Inc. ("Broda Group" or the "Company") has been serving the Western Canadian heavy construction industry for over 57 years. The Company specializes in the areas of earthwork and civil construction, aggregate processing and concrete production. The Company is headquartered in Prince Albert, Saskatchewan, where it has office and maintenance facilities. Broda Group has over 200 employees and a fleet of over 500 pieces of construction and support equipment. The Company operates in markets across all of Western Canada and into Ontario. Broda Group has leveraged its expertise in heavy construction, unwavering focus to exceed customer expectations, ability to meet demanding specifications for any and all projects and its strong commitment to health and safety to build an industry leader with an outstanding reputation for quality work and exceptional service.
Broda Group is one of a handful of companies in Western Canada who have achieved the Gold Seal certification awarded through the Canadian Construction Association. The Gold Seal is awarded exclusively to those in construction management who have attained a nationally recognized level of industry expertise and competence.
"We are very excited to partner with the senior management team of Broda Group Inc. It is a rare opportunity to participate in a company that has operated so successfully over five decades and has their depth and breadth of experience in the Western Canadian heavy civil construction market," said Mick MacBean, Senior Managing Director at TriWest Capital Partners. "Our outlook for the business is very robust and we look forward to working with management and growing this exciting platform investment."
Broda Group President, Gord Broda said, "We are looking forward to the new partnership with TriWest. Our vision is aligned for the future growth of the company and support from TriWest will allow new opportunities for growth. It is an exciting time for our company and our employees."
Founded in 1998 and based in Calgary, Alberta, TriWest is one of Canada's leading private equity firms, having raised over $775 million in committed capital through four funds. TriWest makes significant equity investments in profitable companies and works in partnership with management to generate superior financial returns through the pursuit of growth opportunities and a focus on operational excellence. TriWest provides more than just capital. The principals of TriWest have significant operational and financial expertise, making us effective partners in creating shareholder value.
SOURCE: TriWest Capital
For further information:
Mick MacBean, TriWest Capital Partners, 403-817-9482
Gord Broda, President, Broda Group Inc., 306-764-5337