ABD acquires half ownership of RV, auto company
- EFN Staff | February 05, 2015
Prince-Albert based investment firm,
Athabasca Basin Development (ABD), announced ownership today into Tru-North RV,
Auto & Marine (Tru-North). ABD has ownership of 50% of the business,
with management retaining the remaining 50%. There will be no changes to
current operations as a result of this transaction, and existing management and
employees will continue to operate the business as usual.
“We are pleased to be making this investment in Tru-North,” says Geoff Gay, CEO of Athabasca Basin Development. “This investment is a good fit with our overall portfolio of investments into successful, well-run companies that have a lot of growth potential. Tru-North is a significant supplier in the Prince Albert market, known for providing exceptional customer service and quality products for its customers. With its latest expansion into manufactured homes, there is a lot of potential for this company to continue the level of growth it has experienced, and we are excited to have ownership in this excellent company.”
Tru-North has built a reputation for being the best place in Prince Albert to shop for boats, travel trailers, fifth wheels, and extended stay trailers. The company was recently recognized by Yamaha Motor Canada as a 5 Star Dealer for their excellence in providing customer service – before, during and after the sale. With the business’ recent expansion and the creation of Tru North Homes, it now also specializes in high quality manufactured home sales.
“Athabasca Basin Development has a history of supporting strong companies, and we are very excited about this deal,” says Rick Bueckert, General Manager for Tru-North. “Through this partnership, we have created a strategic opportunity to strengthen and build on our offerings to deliver even greater value to our customers and continue growing our company. This partnership is an excellent fit and we look forward to a long and mutually beneficial relationship.”
Athabasca Basin Development, who was recently named as SaskBusiness Magazine’s 2014 Business of the Year, is an aboriginal investment company owned by the seven far north communities in Saskatchewan. Athabasca Basin Development looks for investments that are sustainable, well-managed and generate value for its shareholders. “We are actively seeking investment opportunities for the upcoming year, and this investment is the first of others to come,” says Geoff Gay, “I would encourage business owners who are looking for an investment company to consider us as a potential fit and to contact us to discuss opportunities.”
Related story: Athabasca Basin Development named Business of the Year