New Majority Investors Announced for the Sexton Family of Companies
October 05, 2022
Regina, Saskatchewan - The Sexton Family of Companies (“SFOC”), is pleased to announce that the Company is in the process of concluding a transaction that will see an ownership group led by PFM Capital Inc. (“PFM”) obtain a majority share position of the Company. Current SFOC Chair, Brian Kusisto, will remain with the company as a board member and Sexton Investments will retain a portion of the ownership of SFOC. The transaction is subject to certain regulatory approvals and other conditions customary for a transaction of this nature and is expected to close in the fall of 2022.
Earlier this year the Sexton and Kusisto families determined that there was a need to establish a plan that would carry the SFOC, inclusive of all operating divisions, forward and ensure continued growth and success for the Company. It was determined that seeking new investors was the optimal way to accomplish this and subsequently set forth a set of objectives that would need to be met in order to ensure the new investors were matched to the values of the Company.
“I am excited to have PFM investing in our future. They recognize that we are a financially strong, growing organization with high performing employees and powerful customer, member and vendor relationships. I look forward to continuing to drive success across the Company.” said Steve Buckle, CEO of Sexton Family of Companies.
“This is an exciting day for Sexton. The acquisition is a testament to the hard-work and dedication of everyone at Sexton and demonstrates the successful execution of our strategy.” said Brian Kusisto, Chair of Sexton.
“Sexton is a classic Saskatchewan success story. A story that now includes Customers and members across Canada. We are honored to become part of the Sexton legacy. We look forward to working with the Sexton team as they write a new chapter in their history.” said Jeff Linner, Chief Investment Officer at PFM.
SFOC and PFM are excited about how this transaction will position the Company for its next stage of growth, while allowing SFOC to preserve the culture, values and traditions that have made it prosper for over 50 years.
Deloitte Corporate Finance Inc. served as exclusive financial advisor for SFOC and MLT Aikins LLP provided legal counsel to SFOC.