SASKATOON – A Prince Albert, Sask. based investment firm is now the majority owner of West Wind Aviation. Athabasca Basin Development increased its ownership in the Saskatoon-based company after buying all the shares that were owned by Meadow Lake Tribal Council Resource Development.
The purchase increases Athabasca’s stake in the company to 54.85 per cent from 29 per cent.
The CEO of Athabasca, Geoff Gay, said the deal makes good sense for the firm that first invested in West Wind in 2012.
“West Wind Aviation is a solid company with a strong track record of success of providing flights in the North and in Saskatchewan,” said Gay in a release.
“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.”
Athabasca said there will be no changes to current operations and that existing management and employees will continue to operate the business as usual.
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Officials with Meadow Lake Tribal Council Resource Development (MLTC RDI) said they decided to sell their shares after a review of their portfolio.
“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 MLTC RDI CEO Ben Voss.
Prince Albert Development LP and the West Wind employee group are the other owners of West Wind Aviation.
West Wind was established in 1983 and operates flights throughout Saskatchewan.
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