Tamarack North Holdings Ltd.
I’ve hired so many great people here over the years. Our employee share ownership program reflects our appreciation for their believing in our company. BDC’s financing helped us make the buy-in happen!
Christopher Madden
P. Eng., President
Impressive portfolio of prestigious main homes, cottages, boathouses and commercial buildings
About the company
High-end home construction contractor.
Location: Muskoka, Ontario
Industry: Construction
Entrepreneur challenge
The founder was looking to sell significant shares to his employees. He needed financing to succeed with a management buy-in that would help keep the business local, ensure continuity, foster employment engagement and retention, as well as drive growth.
BDC expertise
BDC’s experts provided financing for the management buy-in, including refinancing property and a warehouse to assist in the share buy-in. The company has been a BDC client since 2006.
Results
- Founder went from being a 100% owner to a 25% owner
- Company now has 30 shareholders, all of whom are employees
- Doubled revenues over the last five years
- Projected substantial growth over the next year
- Ensured continuity, employment engagement and retention