Athabasca Basin Development increases ownership in West Wind Aviation
- EFN Staff | April 08, 2015
Company purchases shares from Meadow Lake Tribal Council Resource Development
Prince-Albert based investment firm,
Athabasca Basin Development (ABD), has increased its ownership into West Wind
Aviation from 29% to 54.85%. ABD purchased additional shares in the
company from former owner Meadow LakeTribal Council Resource Development.
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
“We are pleased to be making this increased investment in West Wind Aviation,” says Geoff Gay, CEO of Athabasca Basin Development. “We initially purchased ownership in West Wind in 2012, and when the opportunity to increase our investment came up, it made good sense for us. West Wind Aviation is a solid company with a strong track record of success of providing flights in the North and in Saskatchewan. Looking ahead, there is a lot of potential for growth and expansion for the company, making it a solid investment for our shareholders in the Athabasca.”
Former owner Meadow Lake Tribal Council Resource Development (MLTC RDI) is the for-profit arm of the Meadow Lake Tribal Council.
“West Wind Aviation has been
a good investment for us for many years. After reviewing our portfolio of
investments, we made the strategic decision to sell our shares in the company
in order to pursue opportunities that are a better fit with our core business,”
says Ben Voss, CEO of MLTC RDI. “As long time owners in the company, we
are pleased to see our shares go to a solid investment company, and we think
this deal is a win for our company, our shareholders, and for West Wind Aviation.”
Established in 1983, West Wind Aviation offers a diverse range of aviation solutions to safely meet corporate or leisure travel needs. Over the years, West Wind Aviation has built a reputation of providing excellent service, and the company has been recognized with multiple awards, including being a platinum member of Canada’s Best Managed companies and a Saskatchewan Top Employers.
“We’ve had an excellent partnership with Athabasca Basin Development for the past two years, and we are pleased they are increasing their ownership in our company,” says Gord Gillespie, CEO of West Wind Aviation. “Athabasca Basin Development has a history of supporting solid companies, and having strong ownership puts us in a good position to explore potential opportunities for growth and expansion. This partnership is an excellent fit and we look forward to continuing a long and mutually beneficial relationship.”
Prince Albert Development LP and the West Wind employee group are the other owners of West Wind Aviation.
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