The new owners of Penticton’s Slimline Manufacturing say it’s going to be business as usual.
The Penticton manufacturer of agricultural equipment was acquired by Decisive Dividend for a base purchase price of $7 million.
“It will stay a Penticton-based company for sure. We think it’s a great company that has a great group of people working in Penticton,” said James Paterson, CEO of Decisive Dividend. “That’s not going to change.”
Paterson said former owner Kim Blagborne, who acquired the company in 1990, will be staying on for the near future. Slimline makes agricultural sprayers, sold around North America through its large dealer network, and wastewater evaporators which are sold around the world.
“We’re certainly very very excited about Slimline and its prospects. It’s a great little company. It’s got a phenomenal reputation in the industry,” said Paterson.
“We don’t see that changing and we just hope that we’re able to continue doing what it is that they’ve been doing in give them some opportunities for growth.”
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Decisive Dividend also owns another Penticton company, Blaze King, and Paterson said the Slimline acquisition will assist the production capacity at Blaze King and support product lines at their Unicast Steel Foundry in Kelowna.
Paterson said they typically want companies to continue to run the way they’ve been running.
“So all of the existing employees are staying and they’re doing business as usual and then we try to exist them with growth opportunities,” he said. “Kim built a great little company. And we are big fans of Penticton, we think Penticton has lots of opportunities.”
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Steve Kidd
Senior reporter, Penticton Western News
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