Westcap invests in WBM to support growth and explore acquisitions

The deal was completed in syndication with Westcap managed funds, Golden Opportunities Fund and Westcap MBO III Investment.

  • Founded in 1950, WBM is an IT services provider that works with both public and private sector clients
  • As part of the deal, JoeAnne Hardy, president, and Brett Bailey, vice president, will retain their ownership and leadership roles

Westcap Management has made an investment in WBM Technologies, a Saskatoon-based information technology services provider. No financial terms were disclosed.

The deal was completed in syndication with Westcap managed funds, Golden Opportunities Fund and Westcap MBO III Investment Fund.

WBM, which works with clients in both the public and private sectors, has operation centers in Saskatoon, Regina, Winnipeg, Calgary and Vancouver. The company was found in 1950. As part of the deal, JoeAnne Hardy, president, and Brett Bailey, vice president, will retain their ownership and leadership roles.

Westcap’s investment will support WBM’s growth efforts and allow the company to explore acquisition opportunities.

“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,” said Jamie Schwitzer, chief investment officer of Westcap, in a statement. “We look forward to bringing our portfolio partners and stakeholders to support WBM’s continued growth.”

Westcap is a Saskatoon-based private equity and venture capital firm. It was founded in 1997 and has to date raised and completed more than C$1 billion in transactions.