By paNOW Staff

Gord Broda buys back Broda Construction

Sep 12, 2014 | 7:04 AM

Five years after selling his company, Gord Broda is once again  owner of Broda Construction.

Broda, along with partner Rusty Clunie, and a private equity firm out of Alberta, pooled their resources for the deal.

“Our parent company [had] taken on some different directions as far as where they’re going and we thought it was a good opportunity to maybe get the company back sort of refocused and going in the direction that we think it should be going,” Broda said on Thursday.

Broda did not disclose the purchase price, but said he bought it back for less than what he had sold it for.

The deal was made official on Sept. 1. In a media release issued on that day by Stuart Olson Inc., it was announced that it sold the company to TriWest Capital Partners and senior management of Broda for “gross cash proceeds of $39 million.”

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Broda is pleased to have his namesake company back.

“No question there’s some emotion getting some ownership back into the business and continuing to have our local presence and moving the company forward. No, it’s exciting.”

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