CPE News (10.4.2022) – Westcap Mgt. Ltd. has announced a significant investment into WBM Technologies LP.
The investment was made by Westcap managed funds, Golden Opportunities Fund Inc. and Westcap MBO III Investment LP. Financial terms were not disclosed.
The investment will help accelerate WBM’s impressive track record of growth, employment, and community contribution, while ensuring that the company will continue forward as a locally and independently owned and operated success story in Western Canada.
Founded in 1950, WBM is one of Canada’s top IT service providers with a team of over 450 people and offices in Saskatoon, Regina, Winnipeg, Calgary, and Vancouver.
The company provides world class technology solutions to a customer community that spans both public and private sector and includes many of Western Canada’s largest and most progressive organizations.
President JoeAnne Hardy and VP Brett Bailey will retain their ownership and leadership roles in WBM, while WBM VP Bob Hardy will announce his retirement from the company.
photo credit: Westcap, WBM
News Release
Westcap Announces a Significant Growth Investment in WBM Technologies
A NEW PARTNERSHIP CREATED TO DELIVER ACCELERATED GROWTH & ACQUISITION OPPORTUNITIES AT ONE OF CANADA’S LARGEST AND MOST ADMIRED MANAGED TECHNOLOGY SERVICES PROVIDERS
Saskatoon, Saskatchewan – October 4, 2022 – Westcap Mgt. Ltd. (“Westcap”) is pleased to announce a significant investment into WBM Technologies LP (“WBM”). The transaction was completed in syndication with Westcap managed funds, Golden Opportunities Fund Inc., Saskatchewan’s longest-standing provincial Retail Venture Capital (RVC) fund, and Westcap MBO III Investment LP, Westcap’s third private equity fund. The investment is expected to accelerate WBM’s impressive track record of growth, employment, and community contribution, while ensuring that the company will continue forward as a locally and independently owned and operated success story in Western Canada.
WBM, established on the prairies in 1950, has emerged as one of Canada’s top IT service providers, growing from humble roots to what is now a team of over 450 people, with operations centers in Saskatoon, Regina, Winnipeg, Calgary, and Vancouver. The company provides world class technology solutions to a customer community that spans both public and private sector and includes many of Western Canada’s largest and most progressive organizations.
Mr. Jamie Schwitzer, Chief Investment Officer of Westcap, states, “We are pleased to invest in WBM and be part of the company’s exciting future given the critically important role that technology is now playing in every organization and industry sector worldwide. The company’s exceptional reputation, customer service and culture has made it a successful leader and community partner in the industry. We look forward to bringing our portfolio partners and stakeholders to support WBM’s continued growth.”
“We couldn’t be more excited about this announcement, which to us represents an important next step in our journey,” states WBM President JoeAnne Hardy. “It was critically important that we select a partner who shared and respected our values and was committed to seeing us move forward on our growth plan. We are thrilled to be moving forward in partnership with Westcap. Empowered by their expertise and willingness to invest in further growth and success, now more than ever our focus can be on continuing to deliver around the commitments and expectations that our customers, our people and their families, our communities, and our technology partners have for us, all toward achieving our goal of being the best managed technology services provider in Western Canada.”
With Westcap as a strategic investor, both JoeAnne Hardy (President) and Brett Bailey (Vice President) will retain their ownership and leadership roles in WBM, while WBM Vice President Bob Hardy will announce his retirement after a successful 32-year career, having led the company through an incredible evolution from typewriters to cloud services over that span. In partnering with Westcap, there will be no change to the stable leadership and customer driven operations that WBM is known for.
About Westcap Mgt. Ltd.
Founded 25 years ago, Westcap is a leading private equity and venture capital fund manager having raised and completed over $1 billion in transactions to date. Westcap has an uncompromising vision to build long-term value for investors by supporting visionary management teams in their growth and succession strategies. Our vast network of strategic partners and long history of success is grounded by our Prairie culture and integrity. Learn more at westcapmgt.ca.
About WBM Technologies
WBM Technologies Inc. is a Western Canadian leader in the provision of outcome driven information technology solutions. Established May 1, 1950, WBM now operates out of Operation Centers located in Saskatoon, Regina, Calgary, Vancouver and Winnipeg, employing a team of over 450 IT professionals across Canada. We are driven by the difference we can make together, providing business solutions across the WBM Enterprise Experience Platform, including core practice areas Data & Security, End User Computing, Modern Workplace, Managed Print Solutions, and Enterprise Service Desk. Learn more at wbm.ca.
For further information please contact:
Jamie Schwitzer, Chief Investment Officer
Westcap Mgt. Ltd.
Suite 601, 409 3rd Avenue South
Saskatoon, SK
Tel: (306) 652-5557
Brett Bailey, Vice President
WBM Technologies LP
104-3718 Kinnear Place
Saskatoon, SK S7P 0A6
Phone: (306) 664-2686
Toll Free: (888) 275-4926