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