Buffalo River Developments LP acquires majority interest in Threeosix Industrial Services Inc.
Acquisition makes Threeosix one of the largest Indigenous industrial contractors in Western Canada
SASKATOON, SK, July 9, 2024 /CNW/ - Buffalo River Developments LP ("BRDLP") of Dillon, SK, and Threeosix Industrial Services Inc. (or "Threeosix") have been working together to develop their relationship and collective business interests under a Limited Partnership Agreement (Buffalo Contracting LP) since late 2023.
In Q2 of 2024, the groups furthered their collective interests when an agreement was reached whereby Buffalo River Dene Nation, via its development corporation Buffalo River Developments LP, completed a significant investment in 102056994 Saskatchewan Ltd. (the parent corporation of Threeosix) in exchange for a majority stake in the group of companies.
"Furthering our progress in terms of economic development for the Nation, our investment in Threeosix represents a big step forward with really great potential for not only the Nation, but also Threeosix, and our team members," says Brad Darbyshire, Chief Executive Officer of BRDLP. "By taking a significant ownership position in Threeosix, instead of attempting to develop a start-up in this industry organically or through partnership, we're now the majority shareholder in one of the largest First Nation owned industrial construction, underground mining, and fabricating businesses in Canada." adds Darbyshire. "With a strong backlog of work with top-tier clients across most of the country, and a solid team across the board, we're excited for the future."
With the pre-existing management team in-place, Threeosix will now move to align its governance structure with the industry best-practices in Canada, including the implementation of a formal Board of Directors. Strategically, the business will maintain its focus on the Mission, Vision, and Values that Threeosix has driven since inception, with emphatic attention to the creation of both value and capacity for Buffalo River Dene Nation, and its other partners, and the Team as it continues to grow and evolve.
Threeosix has worked diligently to build and maintain strong relationships with First Nations through partnerships and direct community engagement to create economic and social opportunities for the Nations it does business with. The company now looks to bolster the strength and intent of those relationships in the spirit of Nation-to-Nation benefit as it moves operations forward.
"We are very excited about the investment by Buffalo River, and it's always an obvious choice to become closer when values, goals, and business interests align this well," says Scott Longmuir, CEO of Threeosix. "The value we can bring to the Nation, our clients, and our team through this transaction is already being felt in a significant way, and the future looks bright. It is now more important than ever that we continue to consider both the business and the Nation when we make decisions. After spending time in the community on a number of occasions, we're embracing that we have a strong partner and that we are well aligned."
Threeosix Industrial is a professional and progressive multi-discipline industrial solutions provider based in Saskatoon, Saskatchewan, serving the resources and infrastructure sectors, with supporting operations in Calgary, Edmonton and Winnipeg. The company has a strong commitment to diversity, inclusion, and hiring from the communities in which they work. The goal of the Threeosix team is to provide a professionally managed and safety-conscious approach to construction, maintenance, fabrication, and mining that is easily recognized as the new standard. www.threeosix.ca
Buffalo River Development Limited Partnership (BRDLP) is the wholly-owned economic development corporation of the Buffalo River Dene Nation. BRDLP is dedicated to supporting local enterprise and sustainable business growth in support of economic growth that benefits BRDN Members. BRDLP is inspired by its Nation's people, culture, and lands, and excited to develop the community's eager, agile workforce and abundant natural resources.
Buffalo River Dene Nation consists of 1650+ Members, Buffalo River Dene Nation (BRDN) traditional territory and north-western Saskatchewan in Treaty 10 territory. BRDN is committed to supporting traditional ways of living while also pursuing opportunities to increase the wealth and self-determination of their Nation through increased access to housing, education, and economic development. The people of Buffalo River Dene Nation (BRDN) are dedicated stewards of the land who work together to support the spiritual, mental, physical and family health of their community and build a strong and prosperous future for the generations ahead. Find out more at www.brdn.ca
SOURCE Threeosix Industrial
For more information, please contact: Brad Darbyshire, CEO, Buffalo River Developments LP, [email protected], 306-764-5400; Scott Longmuir, A.Sc.T. CEO, Threeosix Industrial Services Inc., [email protected], 306-384-9306
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