(Twitter/@Degelman)

By Alice McFarlane

Degelman Industries

Saskatchewan fund supports manufacturer

Jan 20, 2020 | 3:44 PM

Saskatchewan-based Golden Opportunities is investing $63 million in Degelman Industries of Regina.

The Golden Opportunities investment fund is managed by Westcap Management.

Westcap president Grant Kook said this will ensure Degelman remains at the forefront of manufacturing innovative farm and industrial equipment.

“We’re very excited to ensure Degelman Industries remains locally owned and we’re going to be in partnership with the family and the executive team,” Kook said. “It’s for both succession planning and continued growth capital for the company and foreseeable future.”

Kook said it’s a good business move, but won’t reveal financial details.

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“The financial details in terms of the values, because it’s a private transaction, we’re keeping that closed for the stakeholders. We obviously believe it’s a very good investment for a number of reasons. We spent quite some time making sure that the partnership works, we’re aligned and we have the same cultures between our funds and what they do,” he said.

Kook said Degelman has been in business for over five decades and they are a key economic contributor not only to Regina, but Saskatchewan as a whole. He said there is a network of dealers in Canada, U.S., Russia, Australia, Germany, Kazakhstan, South Africa and Ukraine.

“Their reputation is really strong in North America, but quite frankly, globally and in the eight countries that they have dealers in and sell their product,” he said.

“In today’s world you need to be quite innovative to remain competitive. That’s some of the stuff that drove us to invest in the company,” he said. “They have a top reputation and brand throughout North America and the world in terms of high quality ag equipment and great customer service. Those are some of the reasons why we’ve invested.”

Degelman sells over 50 products from tillage, heavy harrows, landrollers, rock removal, livestock and cutting equipment as well as bulldozer blades.

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alice.mcfarlane@jpbg.ca

On Twitter: @AliceMcF