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More than a Show Edmonton Motorshow’s interactive fun is for everyone By Natalie Noble

Health Care Innovators in Edmonton By Dylan MacDougall

Planning, Not Panicking, is the Key to a Successful Succession By Nerissa McNaughton

T otem Golf Group

Celebrating Business Excellence

C owan Graphics Inc. Celebrates 75 Years

Design 21 LED Lighting Systems

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Celebrates 21 Years

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Celebrating Business Excellence

Mind the Gap It’s the rising unemployment rate versus the hunt for skilled labour By Nerissa McNaughton

To Airbnb or not Airbnb. That is the Question. By Nerissa McNaughton

ommercial Retail: It’s All C About Location What factors determine the best location? By Will Porter

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Golf Brings People Together It’s more than a game By Fay Fletcher

Liftboss is proud to introduce another first in the construction industry, JCB’s compact, tracked backhoe loader. The 1CXT provides superior maneuverability, an optional handheld tool auxiliary, as well as a universal quick hitch that is compatible with most skid steer attachments. The machine is equipped with a 49 hp engine that requires no aftertreatment. iftboss Inc. was established in May 2006 by adding JCB construction equipment in 2017 has been Lessfour than six feet wide 7-feet-6 other backhoe loader willmore fit. partners John and and Andre Gagnon,tall; Daleput it to awork great where addition,no and has made Liftboss Inc. even

Beatty and Marc Tougas to be a one stop shop visible in the heavy equipment industry in Alberta. dealership for all material handling needs. Having They will always stay true to their material handling worked in the industry before, the four partners, roots, but having an established and well respected Give us a call for more info or to arrange a demo. pooled all there resources, previous experience construction line has solidified the fact that Liftboss together and designed a new business model to fill Inc. is here for the long haul and ready to compete. the much needed niche that the industry needed. Liftboss Inc. is an Alberta owned and operated Whether you are looking for a new machine, a rental, dealership, offering new and used equipment sales, service or parts on an existing unit, or simply want a total parts department, forklift rentals, forklift a second option on something, give them a call and training, trained and certified mechanics to perform they will be happy to point you in the right direction. repairs in shop and service vehicles to handle on site As a group, Liftboss Inc. do what they do based repairs. Liftboss Inc. prides it’s self on quick response on four core values: do what you say you will in a time to customer’s breakdowns. timely manner; be open and honest; do whatever it takes; and service the customer above all else. As Customer service was the reason the company each department grows, each team member is held was born, and has captured an impressive share accountable to those principles, their focus of business for Liftboss. In the past 3 years, the is to be a quality company that people downturn in the Alberta economy has definitely are proud to work for. affected the sales activity, but comparatively the service and parts business has noticed substantial growth. The sales team builds portfolios for each client’s needs and service preferences; this way, they can have a conversation with a client instead Introducing the future of construction equipment. of simply walking them around the The new JCB Hydradig is the world’s first wheeled excavator and showroom. Their clients appreciate tool carrier designed for purpose and built without compromise. the attention and reward them with Travel to—and around—work sites faster than ever, maneuver into repeat business and referrals.

tight spaces with greater safety, and apply the right attachments

Material handling and forklifts werewhere and continue to be they’re needed. a huge part of what Liftboss Inc. has grown from, but

Contact Liftboss JCB for more information.

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OF ENERGY

APRIL 2020

INVESTING

IN ALBERTA ENERGY MATCO INVESTMENTSâ&#x20AC;&#x2122; MICHAEL TIMS IS STAYING THE COURSE

OF ENERGY VOL 2, ISSUE 2 | APRIL 2020

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Alberta Will Redefine Resiliency Yet Again in 2020 by David Yager

Cover: Investing in Alberta Energy

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David Yager | Alberta Will Redefine Resiliency Yet Again in 2020

ALBERTA WILL REDEFINE RESILIENCY YET AGAIN IN 2020 by David Yager

he way that 2020 has started off, the time has come for Alberta to change its official bird from the great horned owl to the black swan. Black swan? When an unplanned severe economic phenomenon occurs – when a financial curve ball comes out of nowhere and wrecks everybody’s plans – economists, analysts and financiers call it a “black swan event.” While all swans were thought to be white for centuries, extremely rare and previously unimagined black swans were discovered in Australia in 1697. Online financial dictionary Investopedia reads, “A black swan is an unpredictable event that is beyond what is normally expected of a situation and has potentially severe consequences. Black swan events are characterized by their extreme rarity, their severe impact, and the practice of explaining widespread failure to predict them as simple folly in hindsight.” The definition is fraught with irony. First something unplanned changes things dramatically after which multiple observers are miraculously blessed with perfect 20/20 hindsight.

Alberta adopted the great horned owl as its official bird in 1977. But black swans have been breeding, laying eggs and hatching chaos ever since. That Albertans have always found ways to regroup, recover and forge onwards is the reason the province has long called itself, “next year country.” Alberta has been forced to bounce back so many times it has become a synonym for resiliency. And in 2020 we get to do it again. This year started with three major events affecting the economy that nobody foresaw. The worst was coronavirus which has clobbered oil and stock markets. No business planners put a serious contagious disease outbreak and potential global pandemic in next year’s financial forecast. “Revenue and profits for 2020 look pretty good, unless of course people can’t leave the house for fear of contracting a fatal disease.” The second was the decision by Teck Resources to abandon its Frontier oilsands mine before the federal government rendered its decision. Lots of people predicted it would never be built. But after investing 10 years and a billion dollars, nobody imagined Teck would throw in the towel only days before Ottawa made an official pronouncement one way or the other.

4 • Business of Energy • April 2020

Alberta Will Redefine Resiliency Yet Again in 2020 | David Yager

The combined impact was somewhere between awful and devastating depending on your job, company or economic sector. As cases of coronavirus infections and deaths grew, world stock markets lost $US6 trillion of value in a week. Because of air travel restrictions, it was soon clear oil demand was falling fast. WTI, which opened the year above $US60 a barrel, had lost 25 per cent of its value by early March. Not knowing when and where this would end, the expanded oilpatch capital budgets that had spurred so much optimism to begin the year were in doubt only weeks after 2020 began. “Only a matter of time” the world’s disease-expert pundits sagely observed. The Teck decision was more psychological than economic. Frontier had been hyped as a major positive turning point for the economy of Alberta if it was built and the fragmentation of the country if it was rejected by the Trudeau government. Teck’s unexpected withdrawal precipitated endless rounds of commentary, none of it good. As Investopedia observed, everyone who ever had a doubt about Frontier was able to say, “I knew it.” Oilsands haters rejoiced, and endless columnists opined that the era of Alberta’s economy being driven by new bitumen development was officially dead. The blockades clobbered everybody. Following the RCMP entering Wet’suwet’en to arrest people restricting access for Coastal GasLink construction activities, all manner of people across the country seized the moment to participate in civil disobedience by blocking railways, roads, public buildings and whatever else they could think of that would irritate the most people with the lowest personal risk. The issues were indigenous rights, fossil fuel development, climate change and “power to the people”; not big governments and big companies. “No wonder and totally justified,” progressives cried, given the appalling treatment of First Nations by Canadian “colonials.” Pollsters asked Canadians for their response to the statement, “Right now, Canada is broken.” Nearly 70 per cent agreed with the main issue being the blockades and the failure of governments to remove them. Discontent in Alberta, also stung by falling oil prices and shelved oilsands mega-projects, was at 83 per cent. Prime Minister Justin Trudeau’s response, or the lack of it, saw his approval sink below 30 per cent. For Albertans, having plans, careers, ambitions, investments and companies derailed or destroyed is hardly new. Since 1977, when Alberta clearly embraced the wrong provincial bird, there have been multiple unplanned black swan hatchings. But we’re still here. And we will be next year. That high oil prices always come down is well understood today. Modern electronic commodity markets wiggle continuously in both directions. Price volatility is part of the modern oil business. But this was all new 40 years ago after the national energy program was introduced in 1980. With oil prices 10 times what they were seven years earlier, federal professional extrapolators

5 • Business of Energy • April 2020

Alberta Will Redefine Resiliency Yet Again in 2020

The last was nationwide blockades of railways and roads, allegedly in solidarity with the Wet’suwet’en hereditary elders opposed to the Coastal GasLink pipeline from northeast B.C. to Kitimat. LNG Canada is the only good news natural gas has enjoyed in 13 years. LNG is supposed to help Asia use less dirty coal. No other country in the world has or will ever experience mass protests of this type of project for this reason.

David Yager | Alberta Will Redefine Resiliency Yet Again in 2020

concluded this would continue forever and therefore legislated massive wealth redistribution from oil and gas producers to consumers.

Alberta’s economy retooled to oilsands creating an economic boom that rivalled anything experienced in prior years.

The ink was barely dry on the hard-fought 1981 federal/provincial revenue-sharing agreement between Ottawa and Edmonton when oil prices started to slide. By 1985, they had collapsed entirely and didn’t start to rise in real terms for nearly 20 years.

Hundreds of billions of dollars were committed and invested in oilsands production and upgrading. Export pipeline capacity expanded and more was planned. When the NDP and Liberals introduced higher corporate taxes, carbon taxes and aggressive climate policies in 2015, Canada had four export pipelines in the works to haul away up to two million of additional oil production.

As a result, Alberta was introduced to resiliency in ways it had never previously imagined. House prices collapsed, businesses went broke, banks failed, deficits skyrocketed and income from the Heritage Fund – the built-to-last safety net from 1970s oil boom money – was drained to support general government revenues. The spectacular oil boom of the 1970s became the spectacular bust of the 1980s. The next major black swan that would clobber Alberta’s economy and finances was the unlocking of shale gas using extended-reach horizontal drilling and hydraulic fracturing. This began about 2007 in the Barnett Shale of Texas. The 21st century started with a natural gas boom of unprecedented proportions. During the 2005 hurricane season in the Gulf of Mexico, Henry Hub gas peaked at over US$13, nearly 10 times current levels. LNG import terminals would be required to supply North America with gas because of falling domestic production and rising demand. That natural gas would one day be abundant and worthless by comparison was not predicted. This is evidenced by the investment in billions of dollars in wells, gas plants and specialized oil service equipment, much of which is either gone or valued at a fraction of what it cost to create. The technology-driven gas price meltdown devastated and completely changed the Canadian oilpatch. Climate change activism and its impact on the oilsands was a huge black swan that took 15 years to incubate and hatch. In the period 2004 to 2006, Alberta experienced a one-time oilsands leasing boom that had never been seen before or since. As natural gas tanked,

Then the biggest, baddest black swan of all descended in the form of collapsed oil prices – again – and the unforeseen and fundamentally irrational selection of oilsands and oil pipelines as the greatest threat in the history of mankind to the world’s climate. Not one of 2015’s four pipelines are in operation five years later. Tens of billions of dollars in oilsands and pipeline development capital has fled Alberta. And here go again. Incredibly resilient Alberta. Not particularly happy, but ready to do whatever it takes to make things go. We’re routinely advised to do something different. We will. Just wait a minute. And as challenging as events appear when the world throws us another black swan curve ball, the default behaviour of focusing on the negative while taking the positive for granted does not serve us well. Combined oil and gas production are at record levels. Enbridge Line 3 will be carrying additional oil soon. LNG Canada and the Coastal GasLink pipeline will get completed, blockades be damned. Trans Mountain is under construction. Keystone XL will not die. The world still runs on oil and gas and will for the foreseeable future. We’ll bounce back. We always do.

B O E

David Yager is a Calgary-based writer, author and oil service executive. He is currently president and CEO of Winterhawk Well Abandonment Ltd.

6 • Business of Energy • April 2020

Investing in Alberta Energy | Melanie Darbyshire Michael Tims, vice chairman, MATCO Investements.

INVESTING

IN ALBERTA ENERGY MATCO INVESTMENTS’ MICHAEL TIMS IS STAYING THE COURSE

by Melanie Darbyshire

ichael Tims has spent his career investing in Canadian oil and gas. Currently the vice chairman at MATCO Investments, he previously spent 33 years at Peters & Co., the Calgary-based investment firm specializing in oil and gas, oilfield services and energy

infrastructure, where he served as president and CEO, and latterly as chairman. He’s lived through highs and lows in the market, enjoyed the bounty of booms, survived the merciless busts; his perspective today is seasoned with the benefit of this experience.

7 • Business of Energy • April 2020

Melanie Darbyshire | Investing in Alberta Energy

That perspective predicts fairly modest growth in Alberta’s energy industry for the foreseeable future. “You have to look at all the sub-segments,” he advises, which include oilsands, conventional light and heavy crude oil, condensate and natural gas liquids, and natural gas. “The majority of Alberta’s oil production comes from the oilsands,” Tims continues, “and I’ve thought for some time that the combination of economics (the oil price in the US$50/ barrel range) and politics make large-scale, mega-mining projects much less likely to be built.” He notes the decision in February by Teck Resources to withdraw its application for its Frontier mine. “Projects like Teck’s were predicated on the assumption of higher oil prices – $80/90/100 oil. There aren’t many mining oilsands projects that appear on the cusp of proceeding. Capital spending in the oilsands is now fairly low.” Indeed, a number of non-Canadian companies – Shell, Total, ConocoPhillips – have sold Canadian oilsands assets, predominantly to three Canadian players: Canadian Natural Resources, Suncor and Cenovus. “And we don’t see, for the most part, any large amount of non-Canadian money coming in that wasn’t here already,” Tims says. While mining projects may be less economical, Tims does see the potential for incremental growth of steam-assisted gravity drainage (SAGD) projects, which are more modular and don’t involve such large commitments of capital. “Very often these projects are added onto existing infrastructure,” he explains. “So, the economics at the margin of incremental additions to these projects will continue at a moderate pace. But again, at US$50 oil, nobody has a huge incentive to be super aggressive about it.” The conventional light and heavy producers, he says, seem to have enough capital spending to sustain themselves, but are not growing dramatically. “The Canadian independents are continuing their activity, but are hampered by the fact that there hasn’t been much capital raised or available,” Tims says. “There’s only a few of them that you would call vibrant. What it really takes now are very high-return projects and a decent amount of internallygenerated capital, because it’s so hard to access outside capital.”

Oil pipeline capacity is needed, Tims says. “The first key towards reducing the imbalance between production and transportation, which has taken longer than everybody expected, is Enbridge’s Line 3 replacement and expansion. ABOVE: FRASER INSTITUTE FOUNDERS’ AWARD HONOURING MICHAEL J. TIMS, OCTOBER 4, 2018. PHOTO SOURCE: LEBLOND STUDIOS

8 • Business of Energy • April 2020

Noting major protests and blockades against the CGL pipeline, Tims points out the environmental upside to LNG. “Natural gas has half the emissions of oil. It can displace oil and coal elsewhere in the world, which is a good development. Maybe it’s not what the purists want, but it’s a major step forward.”

It appears to be coming through. The big question with the Trans Mountain expansion (TMX) is the risk of disruption and whether or not there will be the resolve to see it through. I think we’d be naive to think there won’t be some of the same kinds of protests [as with Coastal GasLink]. Industry and governments need to be ready for that.” The market for natural gas remains weak, with solely gas-focused drilling activity almost nil. “The economics don’t support it,” he says. “When you take the drilling and completion and tie-in costs, plus the transportation costs, it doesn’t make sense.” In the first quarter of 2020, the price of natural gas stayed around $2. Liquefied natural gas (LNG), however, is a good opportunity for Canada. “I think there has been relative consensus – among the provinces, federal government, First Nations, and companies and the public – about LNG,” Tims offers. There is currently just one LNG project moving forward in Canada: LNG Canada, a joint venture between Shell, Petronas, PetroChina Company Limited, Mitsubishi Corporation and Korea Gas Corporation. “There is a strong hope that they’ll double the size of it, because the economics actually get better on a per-unit basis,” he continues. “It appears to be proceeding, assuming we can get the Coastal GasLink (CGL) pipeline actually constructed and then the project itself constructed.” Noting major protests and blockades against the CGL pipeline, Tims points out the environmental upside to LNG. “Natural gas has half the emissions of oil. It can displace oil and coal elsewhere in the world, which is a good development. Maybe it’s not what the purists want, but it’s a major step forward.” Another bright spot for the industry is large-scale petrochemical projects. “To the extent that these projects have good economics, we should definitely be encouraging them,” he says. “It’s nice to see more finished and upgraded products being made here. It makes a ton of sense for everybody.”

9 • Business of Energy • April 2020

Investing in Alberta Energy

“

Investing in Alberta Energy | Melanie Darbyshire

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Melanie Darbyshire | Investing in Alberta Energy

At MATCO, Tims and his team are working on the belief that another positive cycle will occur. MATCO is invested in approximately 60 companies, the bulk of which are Canadian oil and gas, oilfield services, and oil and gas infrastructure companies. Taken together, the various sub-segments of Alberta’s energy will likely provide for a modest rate of growth for the next stretch. “But it’s not likely to be overly buoyant,” Tims offers. “A slight improvement over the last five years.” The best indicator of where things are going is what the companies are spending their money on. “Both in the oilsands and in conventional oil and gas they’re down roughly 60 per cent from peak levels in 2014,” he advises. “So, things have fallen off significantly. I think they feel flat right now. It’s not falling dramatically further, but they’re certainly not rebounding vigorously either.” Given weak natural gas prices, Tims predicts a large reduction in capital spending for natural gas in the U.S. as well, which could in turn lift prices. “There’s an old saying in the oil and gas industry that the best cure for low natural gas prices is low natural gas prices. Because it removes the incentive for new drilling and then the decline rates will set in and bring it back to a level that the market will actually demand.” The price of oil, he predicts, will not go up dramatically in the near term, absent the small possibility of major disruption in the Middle East. “Right now, it’s particularly weak because of the coronavirus scare,” he says. “And it depends on how disciplined OPEC and the OPEC plus members want to be. It’s dependent on geopolitical considerations – Libya’s got production problems, Venezuela has production problems. And we do see various parts of the world, especially in Europe, where there’s a greater drive to get away from fossil fuels, which is clearly not going to help oil demand in the long run.”

In the short term, Tims believes prices might still rise if capital spending drops off enough. In addition, the movement to transition off fossil fuels to other sources of energy might have an unintended effect on prices. “It is highly likely to take quite a long period of time for this transition, but if people anticipate it happening more quickly and they stop spending on oil and gas projects, it could actually boost the price in the near term. Because that transition just can’t happen overnight.” He doesn’t discount the anti-fossil fuel movement, or that renewable sources of energy will continue to grow. “But we will need hydrocarbons for probably decades to come,” he says. “We don’t know the rate of growth in consumption, or how much of the growth can be picked up by other sources. But in 10 and 20 years from now, I think Alberta’s oil and gas industry will be OK, though I don’t think we’ll go back to a boom town. That was predicated on large-scale additions to oilsands capacity, and I’m having trouble seeing that happen right now.” At MATCO, Tims and his team are working on the belief that another positive cycle will occur. MATCO is invested in approximately 60 companies, the bulk of which are Canadian oil and gas, oilfield services, and oil and gas infrastructure companies. “Prices will probably improve over time,” he predicts. “But in the near term, they can be buffeted by many factors, including the ones we’re seeing right now. So, it’s not a super bullish statement, but we’re not exiting the picture either. We’re trying to create value out of the B investments that we have.” OE

10 • Business of Energy • April 2020

Canadian Energy is an Incredibly Persuasive Global Story | Cody Battershill

CANADIAN ENERGY IS AN INCREDIBLY PERSUASIVE GLOBAL STORY by Cody Battershill

et’s get back to basics and take a closer look at the case for Canada maintaining its strong position as a global oil supplier.

According to some analysts, the industry must invest several trillion to meet future oil demand through 2040, with that increased future demand pegged at more than 14 million barrels per day. The International Energy Agency puts growth in global energy demand at 32 per cent by 2040. Given Canada’s strong reputation for responsible resource development and its rigorous regulatory regime, it makes sense we play a central role in meeting that demand. I’ve stated this before, but it’s worth repeating: of the world’s top 10 oil exporters, Canada ranks number one globally in ESG metrics in every single one of the following rating indexes: Resource Governance Index 2017; Environmental Performance Index 2018; Democracy Index 2018; and Sustainable Development Index 2019. Canada also ranks first among oil top suppliers in the following indexes: Global Cleantech Innovation Index 2017; Women, Peace, and Security Index 2018; Rule of Law Index 2019; and Global Peace Index 2019. But Canada’s global market access is largely blocked due to, among other things, a lack of pipeline capacity. Non-democratic national actors with inferior environmental and human rights records are free to meet growing global oil demand while Canada is forced to sit on the sidelines. Meanwhile our human rights, environmental and worker and community safety standards are the global gold standard. Next to competitors like Saudi Arabia, there is no comparison.

And for indigenous leaders like Roy Fox, Makiinima, chief of the Kainai Blood Tribe, there’s growing support among First Nations for greater participation in the sector. Chief Fox acknowledges the causes of climate change. In fact, his tribe has invested in wind power as part of its transition to renewable sources of energy. But he wants his people to be able to develop their oil and gas resources at fair prices in order to generate revenues to improve the quality of life for community members. The same thinking has helped grow the support of almost every First Nation community located along the Trans Mountain pipeline’s right of way. Equally important, Canadians can be especially proud of the sector’s record of innovation. For example, innovation in the oilsands made steamassisted gravity drainage (SAGD) possible which removes oil from the ground and allows for a large geographic area to be developed with minimal impact to the land. While many Canadians have been led to believe Canada’s oil and gas sector is a high emitter of greenhouse gases, oilsands developments account for only about 10 per cent of Canada’s GHG emissions, and 0.15 per cent of global emissions. Even through these tough times, Canada’s industry has managed to reduce GHG emissions by 32 per cent per barrel since 1990. It’s a persuasive story, and we just have to keep B telling it. OE

Cody Battershill is a Calgary realtor and founder/spokesperson for CanadaAction.ca.

11 • Business of Energy • April 2020

Chuck Bean | The New Age of Data

THE NEW AGE OF DATA

by Chuck Bean

love data. I love the information it provides, and I love being able to take that data and use it to make smart decisions.

I also believe that very soon, most of our decisions will be data based and that we will not need a human to engage in the process. If the data says go left, then go left. There is no doubt that data-based business decisions are now starting to mainstream. Soon the roll of middle management will change from someone that interprets data and directs people, to someone who is a supporter and trainer, charged with ensuring that their people are energized to follow data-based directions. It is that time again when one of my favorite sources of data is published, The Edelman Trust Barometer. The 2019 edition has 78 pages of stuff all about who trusts who. Representing 27 markets with 33,000 participants, this is a rockstar report that tells the truth about who trusts who, why, how, where and when. Once again at the top of the list is Canada. In fact, this year, Canada was tied for first with Germany specific to this question; “Please indicate how much you trust global companies headquartered in the following countries to do what is right.” Now you may not be spitting out your Shreddies when you hear that statement, but I sure am. For me this information is golden and all of us who are engaged in the patch, should be thinking long and hard about how we can export our Canadian technologies, if for any other reason the fact that we are trusted and people will more likely engage commercially with us due to that trust. Out of 17 of the largest economies, the top five most trusted in order are, Germany, Canada (tied), Switzerland, Japan and the U.K. with the USA in the middle of the group of 17 and Mexico at the bottom of the list. This translates into a very distinct advantage to Canadian companies

especially if they are marketing high value or hightech products and services. Inside of the countries, NGO’s and family businesses have the greatest position of trust, and most importantly, Technical Experts rule the roost when it comes to the people that are most trusted within the corporation. This is also particularly fascinating. While so many of us believe that building a large business with a big footprint is the key to success, this data states that small family businesses with sharp technical people are the most trusted, and therefore most likely to engage and do business worldwide. Regardless of size I need to say - sorry CEO’s… the trust barometer states once again that senior executives such as CEO’s, COO’s and related executive roles are only mildly trusted. If you want to see international business growth, do your company a favor and cut your C-Suite travel budget and give it to the tech team. Another suggestion – dump C-Suite titles for your key people and replace them with titles that are more specific to what their job descriptions or outputs are. Do this and you will likely gain more engagement in the international market. What does all of this mean for us here in the Alberta Oil Patch? It means we need to leverage our global trust and take our technologies out of country where we are highly respected. It means we need to get out there, get international and get in the face of our potential clients with our technical folks leading the discussion. This sort of data paves the way and will be a significantly impactful path for growth. We can’t wait for anyone to do it for us, we need to take action and as Larry the Cable Guy would say, “get er done!” PS… do you want a copy of the trust barometer? Shoot me a note and I will send one over! B Cheers, Chuck. OE

12 • Business of Energy • April 2020

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THE CONVERSATION SHOULD BE A TALK, NOT A TANTRUM // TERRY O’FLYNN

The Conversation Should Be a Talk, not a Tantrum BY TERRY O’FLYNN, CHAIRMAN, ALBERTA ENTERPRISE GROUP

ow, what a month February was for Alberta and Canada! The Coastal GasLink pipeline caused turmoil nationwide and within Indigenous populations. Blockades, civil disobedience and vigilante action follow, affecting the nation’s supply corridors. Then, a huge Alberta energy project gets cancelled, not by the government or the regulator, but the applicant itself – Teck Resources Ltd. Teck’s well-written letter of explanation sets off a firestorm of finger pointing at government leaders. The finger pointers include climate change activists who translate Teck’s letter to read as though it is slamming Canada and Alberta’s weak climate policy.

increasingly looking for jurisdiction to have a framework in place that reconciles resource development and climate change in order to produce the cleanest possible products.”

Almost simultaneously, Alberta’s Court of Appeal concludes that the Federal Government’s carbon tax is an unconstitutional intrusion into provincial powers; a “constitutional Trojan horse.”

The sad fact is that Canada does not provide a balanced framework that inspires confidence for investors. We present turmoil instead of calm. We present fights and arguments instead of resolution and reconciliation. Everyone’s yelling at each other from coast to coast and nobody is taking the time to listen to anyone. How can we move forward like this? How can other nations invest in us right now?

A couple days later and Premier Kenney, in his speech from the throne, moves quickly to announce a Bill that will allow for stiff penalties on protesters that put up blockades or interfere with essential infrastructure like railways. Let’s not overlook the latest belt-tightening budget as officials scramble to get responsible controls and rein in spending. And February was nothing compared to what happened in March. An energy war broke out and a pandemic swept the globe. There is a lot going on, but let’s all take a deep breath and look at the facts. Not the fake news. Not the social media outrage. The facts.

Is oil completely clean? No. But Teck’s mine would have been one of the cleanest in North America. In the words of Justin Trudeau (2017 Houston speech), “The resource will be developed. Our job is to ensure that this is done responsibly, safely, and sustainably.” But we can’t develop our own resources. Because everyone is having temper tantrums instead of talking like reasonable adults.

All this infighting… and for what? We need to get our act together. There are so many things going on in the world that are out of our control, so why are we not controlling the parts that we could? Why can’t we control our own resources? The world is changing – fast. Alberta, and Canada, have a chance to show real leadership on the global stage in every aspect from healthcare to economics to energy. But we won’t be able to do that unless we all start listening, working together and getting along.

Start by reading the Teck letter penned by Donald Lindsay. Read where it talks about the “global capital markets… are

BUSINESSINEDMONTON.COM // BUSINESS IN EDMONTON // APRIL 2020

BURNING BRIGHT VS. BURNING OUT – WHICH PATH ARE YOU ON? // RICK TIEDEMANN

Burning Bright Vs. Burning Out – Which Path Are You On? BY RICK TIEDEMANN

re you a business leader or owner who is spending their health in pursuit of wealth? Do you also believe that people are your organization’s number one asset, or do you recognize that it is really healthy people who are an organization’s number one asset? Is it not standard practice to have in place a risk mitigation strategy for our key assets, and should this not include our people assets? While business is often fun and dynamic, it is not without its stresses and these, over time, have a way of diminishing both our psychological and physical wellbeing. Quite simply, this puts both our personal and professional corporations at enormous risk. While life or critical illness insurance policies have a role to play in business risk mitigation, they often simply ensure that the beneficiaries have a good time after we are gone. You see, as a policyholder I actually have “death insurance” and my wife who is the beneficiary actually has the life insurance. So, while most companies have the death side covered quite nicely, it is time to start taking about de-risking our businesses by funding the life and performance side to the same degree. How do we de-risk our businesses and ensure that our top talent stays healthy and is able to perform at a high level on a sustained basis? I would like to suggest two avenues that should form part of every leadership team’s risk mitigation approach.

Step 1 in de-risking your business Step one involves participating in an annual executive health assessment that is anchored in prevention and early detection. This step is an essential one to de-risking a business as it reduces the likelihood that an organization’s

APRIL 2020 // BUSINESS IN EDMONTON // BUSINESSINEDMONTON.COM

leaders get derailed by a health issue. While preventing all diseases is not always possible, the early detection of disease provides you and your care team with many more options to get desirable outcomes. Of course, the best case is to prevent illness from occurring in the first place. I must admit that with the rapidly changing business landscape and the recurrent dialogue regarding an exponentially changing world, I worry about our business leaders and their ability to change their behaviors fast enough to stay healthy and sustain a high level of performance.

Step 2 in de-risking your business The second step is to adopt behaviors that align with becoming corporate athletes. These behaviours involve recognizing the performance-enhancing benefits of optimizing and harmonizing our capacities within the physical, emotional, mental and spiritual behavioral pillars. The adoption of these behaviors requires us to recognize the value of oscillating between phases of energy expenditure and energy recovery. Becoming intentional about completing annual executive health assessments and adopting corporate athlete-like behaviours helps to ensure that our personal end game is one where we burn bright, and this is good for business. When we burn bright, we are also better able to create a world of abundance for ourselves and those we serve. If you would like to explore these practices further, please feel free to call me at Copeman Healthcare.

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New Year, New Energy Project Goals

The Trans Mountain Expansion Project is accelerating. Work is underway with pipe in the ground and terminal construction in Alberta. Significant work has been ongoing at the Burnaby and Westridge Marine Terminals in British Columbia and it is hoped that construction will be underway across the entire line before the end of 2020. “Today, we have more than 2,900 people working on the Project and that number will grow significantly in the months ahead. With 65 per cent of the detailed route approved and a process established by the Canada Energy Regulator for the remainder in progress, the path forward is clear. Construction is accelerating and we’re very excited to be delivering this important Project and on our commitments to Canadians, our customers and communities,” says Ian Anderson, president and CEO of Trans Mountain Corporation. The Trans Mountain Corporation’s board of directors recently approved a Project cost estimate of $12.6 billion to bring it into service by the end of 2022. To date, the company has spent $2.5 billion in respect to the Project, which includes the impact of delays and the resulting additional regulatory process. It is anticipated that an additional $8.4 billion will be spent to complete the project, plus $1.7 billion of financial carrying costs. If you are curious about context, once completed this pipeline will having a whopping 890,000 barrels-a-day capacity. The Project is expected to drive significant economic benefits across Alberta, British Columbia and the country. At peak construction, approximately 5,500 workers will be employed in communities along the construction corridor in Alberta and British Columbia. Trans Mountain is prioritizing and maximizing Indigenous, local and regional hiring to the greatest extent possible, and assure Canadians that there will

be benefits from the economic and tax contributions made by the Project once it is in operation. Communities along the construction corridor will benefit from significant tax dollars, anticipated to exceed $52 million annually, which will contribute to these local communities’ ability to meet their respective social, economic and development goals. “Today’s Trans Mountain Expansion Project has seen significant changes, enhancements and improvements since it was originally envisioned in 2009, and first introduced to the public in 2012,” explains Anderson. “The Project has set new standards for Indigenous participation and inclusion – with 58 signed agreements worth over $500 million. The Project reflects the input and feedback from thousands of Canadians and incorporates the very best safety and environmental protections. “ He continues, “From the installation of state-of-the-art leak detection and monitoring technology, route adjustments to avoid sensitive areas, tunneling versus trenched crossings, to installing more valves and ground water monitoring stations, Canadians will be proud to know that Trans Mountain has established the very highest benchmark for the development and construction of a major energy infrastructure project.” Trans Mountain has also made an agreement to pay the British Columbia government annually, for a total contribution over a 20-year period of up to $1 billion. These funds are to be used by the B.C. Clean Communities program to fund local, environmental projects everywhere in British Columbia. For more information visit transmountain.com. ABOVE: CONSTRUCTION ON THE TRANS MOUNTAIN EXPANSION PROJECT. PHOTO SOURCE: TRANS MOUNTAIN

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Making Home Ownership an Accessible Dream

Home ownership has become more difficult across the country with the introduction of new financial stress tests, not to mention home prices that seem increasingly unattainable in some markets. Backwoods Energy Services (Backwoods), however, is looking to reduce some of those roadblocks for Indigenous employees. One of the largest Indigenous-owned business in Canada, Backwoods has launched the province’s first program that provides financial support to Indigenous employees seeking to purchase their first home. This unique program is also the first time a private business has engaged with the Canada Mortgage and Housing Corporation (CMHC) on a housing program for Indigenous employees in Alberta. “Indigenous people often face unique barriers when it comes to purchasing a home,” said Paul Poscente, president and CEO, Backwoods. “For many people, their home is their largest asset, and it’s our belief that by helping our employees attain home ownership we can impact their lives for the better.” Through the Home Ownership Program for Indigenous Employees, online training, support enrolling in an RRSP program and significant down payment contributions to a maximum of $20,000 per participant are available. Ultimately this program will ease access to the assets and credit facilities required during the path to home ownership. Backwoods has partnered with the CMHC, First Nations Bank of Canada and Capital Region Housing Corporation to provide one-on-one support for participants throughout the program and to develop a comprehensive list of courses, reading materials, tools and financial calculators. The Home Ownership Program is designed to guide prospective firsttime home buyers through the purchase process and provide the information required to make an informed decision.

“This program is certain to help make home ownership more accessible and we are pleased to contribute our expertise to Backwoods and lend our support,” said Nicole Church, senior manager, Indigenous and Northern Housing Solutions, CMHC.

ABOVE: PAUL POSCENTE, PRESIDENT AND CEO, BACKWOODS.

APRIL 2020 // BUSINESS IN EDMONTON // BUSINESSINEDMONTON.COM

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EMPLOYEE AND OFFER AN ADDITIONAL $2,000 PER YEAR OF $10,000. Backwoods, via the inaugural Home Ownership Program, will match Indigenous employees’ RRSP savings to a maximum of $10,000 per employee and offer an additional $2,000 per year of employment to a maximum of $10,000. Backwoods has a preferred partnership with the First Nations Bank of Canada, an organization familiar with the requirements of this program in order to assist employees in selecting an RRSP program.

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“First Nations Bank of Canada remains focused on meeting the financial needs and services required of Indigenous communities to enhance the lives of their members,” said Leigh Solomon, VP retail banking. “With this project being consistent with that, we are proud to play a role in making this happen.” The Home Ownership Program is a huge step towards achieving the Backwoods mission to drive economic opportunities by empowering Indigenous people and communities. Backwoods Energy Services is a leading service provider for utilities, forestry and oil and gas companies in Western Canada. Based out of Edmonton, Backwoods was acquired by the Alexis Nakota Sioux Nation (ANSN) in 2015 and won the prestigious 2019 Waterstone Most Admired Corporate Culture Award in Canada. For more information, please visit backwoodsenergy.ca.

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MORE THAN A SHOW // EDMONTON MOTORSHOW

MORE THAN A SHOW

EDMONTON MOTORSHOW’S INTERACTIVE FUN IS FOR EVERYONE

BY NATALIE NOBLE

re you ready for the automotive experience of the year? Shift into drive because it’s time for Edmonton Motorshow, where you can see the latest and greatest from manufacturers showcasing the coolest in classics, exotics and customs. From the future-focused to those nostalgic for the past, friends and family can enjoy a day, or the entire weekend, celebrating, engaging and interacting with the best of the auto industry. “Whether you’re in the market for a new vehicle, looking at something to do to yours, celebrating a love of cars, or you just want a day out with the family, we have the second largest footprint in Canada for a car show, just behind Toronto’s,” says Eleasha Naso, executive director of the Edmonton Motor Dealers’ Association (EMDA). The show gives spectators the opportunity to see the latest in manufacturers’ brand developments, many of which are not even displayed in dealerships yet. “We’re looking at future technology, possible concepts and vehicles coming out in 2021, or things for after the show debuts,” says Naso. “We are the best way to see all the brands if you are deciding what’s right for you or your family.” For Edmontonians, this means a big truck presence. “I think we will always be Truck Country,” says Naso. “We are prone

APRIL 2020 // BUSINESS IN EDMONTON // BUSINESSINEDMONTON.COM

to having a ton of trucks at the show, including the unveiling of new trucks and concepts coming to the market.” However, the show is so much more than that. “We are also a celebration of everything automotive,” says Naso. “We’re an event, a day of fun for the family celebrating something that we spend a large part of our time in. Sometimes we don’t realize how important these vehicles are to our day-to-day lives.” A multi-faceted experience, the Edmonton Motorshow has been entertaining car enthusiasts young and old for 44 years. This year all the favourite attractions are back, with an exciting new addition. AutoLife is an all-ages hall where every exhibit features fun and interactive elements, thrilling even the youngest car lovers. “We really wanted to focus on having a family section that’s not just something to look at, but something to do at the show,” explains Naso. “Whether it’s a contest for trying on race gear, suiting up the fastest and getting into a cart, AMA’s ‘touch a truck’ and tow truck demonstrations or anything on the educational side where children can learn things like the rules of the road, AutoLife is strictly an automotive themed interactive hall.” Looking to modernize your vehicle? The Auto Emporium is a must-see. “This is all about the vehicle owner looking for

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any enhancement they can do to their vehicle. This includes wraps, tires, engine work and all kinds of customizations,” says Naso. Unrivalled Rides is back too. “This is our competition for local Albertans who bring in their passion projects they’ve spent a phenomenal amount of time and love into modifying. Patrons of the show will be voting for their favourite,” explains Naso. Bidding or not, show-goers can also experience the electricity of a live Barrett-Jackson style auction. Edmonton Motorshow offers ongoing entertainment Friday through Sunday at its Collector Car Auction. “If you’re interested in buying something that ranges from the 1920s up until present, we have cars come through with no reserve where you can get smoking deals on them,” says Naso. “We have also had your ‘67 Mustang Shelbys rolling through with reserves that go for six figures.” Just when patrons think they’ve seen it all, they can enter the adrenaline-lover’s dream with an entire hall devoted to the after-market side of vehicles, including Castrol Racing, monster trucks and more. Or, step outside for drift track action. “We have drifters from the professional racing scene performing a demonstration three-to-four times each day,” says Naso. “If you’ve never seen drifting, it is something to behold.” Anyone looking to take in the show more exclusively can attend the Precious Metal Gala. The charitable event is a special preview to the show that includes fantastic food, drinks and entertainment. Naso notes, “It’s a completely different ambiance with all the house lights turned off and the cars spotlighted. If you’re attending on the business side, it’s the way to schmooze within the industry and to mingle with other industries that come in support. If you’re looking for a night out with less crowds, it is the best way to take in the show.” Last year’s Gala raised over $221,000 to foster education, specifically within the automotive industry, at the high school and post-secondary levels. “We have a grant program for local high schools that have shop programs,” says Naso. “A shop is very expensive to run in a school with the rate of technology change in our industry. Keeping up becomes a big financial burden on the

APRIL 2020 // BUSINESS IN EDMONTON // BUSINESSINEDMONTON.COM

high school. We want to make sure students are exposed to everything and if it’s a career path they might have interest in, we want them to have a taste of it prior to entering a post-secondary program.”

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THAT’S WHAT THE SHOW IS ALL ABOUT – GIVING BACK TO THE COMMUNITY. FOR $15 OR LESS, ATTENDEES ENJOY HOURS OF ENTERTAINMENT AND FUN, CELEBRATE THE AUTOMOTIVE INDUSTRY AND SEE PROCEEDS GIVEN BACK TO LOCAL INITIATIVES. The second portion of Precious Metal Gala funds supports the Northern Alberta Institute of Technology’s (NAIT) automotive programs for service, parts and body shop technicians. “Anyone working with one of our dealer members while attending these programs is offered a scholarship to assist with tool acquisition and their expenses,” says Naso. “We want to thank them for choosing to be a valued part of our industry, and specifically with our dealer members.” That’s what the show is all about – giving back to the community. For $15 or less, attendees enjoy hours of entertainment and fun, celebrate the automotive industry and see proceeds given back to local initiatives. “At the EMDA, we are a large part of the community,” concludes

Naso. “We’re big on community interaction and our dealer members are big on giving back to the community and supporting local. This is what this show does as well; when you support us, it goes right back into our community.” The Edmonton Motorshow runs April 16-19, opening with the Precious Metal Gala on April 15. The Collector Car Auction will take place Friday through Sunday (it is not open to the public on Thursday and is the only feature of the show not included in the Thursday ticket). If you haven’t picked up your ticket yet, don’t miss out! Visit www. edmontonmotorshow.com to get your tickets and follow the Edmonton Motorshow on social media for more behind-thescenes looks at this year’s show.

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THE PREMIER’S PLAN – ONE YEAR IN // COVER

THE PREMIER’S PLAN

ONE YEAR IN J A S O N K E N N E Y O N A L B E R TA’ S F U T U R E

BY MELANIE DARBYSHIRE

year ago, in the midst of one of the worst and prolonged economic downturns in Alberta’s history, Jason Kenney led the United Conservative Party (UCP) to victory in the 30th provincial election. Winning 54.88 per cent of the popular vote and 63 seats in the legislature (with 64 per cent voter turnout, the highest since 1982), Kenney’s UCP ran on a platform of 375 specific commitments – from lowering the corporate tax rate to scrapping the carbon tax to opening Alberta for business again – aimed at turning Alberta’s economic prospects around. Since forming the government on April 30, 2019, Premier Kenney and his team have been busy: over 30 (and counting) bills and two budgets (with a deficit of $6.8 billion); negotiations with and amendments (including cuts) to contracts with public sector employees; numerous cross-country and border trips to foster alliances and “sell” Alberta; creation of the Canadian Energy Centre (the CEC or so-called “war room”); legal challenges against harmful

federal legislation; and, creation of the Fair Deal Panel, now travelling around the province to hear from Albertans. Nonetheless, the province continues to suffer. Unemployment remains high; the federal (and some provincial) government(s) appear resolved to eradicate Alberta’s oil and gas industry; Canadian public opposition – ranging from banal apathy to organized protests and dangerous blockades – to energy developments persists; mega-projects have been delayed (Trans Mountain expansion), rejected by the feds (Enbridge’s Northern Gateway pipeline) or abandoned (Teck’s Frontier oilsands mine and TC’s Energy East pipeline). Public sentiment in Alberta is understandably low. How does the man in charge see things? “I’m very happy with how quickly our government has acted to deliver on over 200 of our electoral commitments,” Kenney says frankly. “It’s been a super-packed agenda and I’m very impressed with our team. I have a largely rookie cabinet, but they haven’t made rookie mistakes.”

RIGHT: JASON KENNEY, PREMIER OF ALBERTA. PHOTO SOURCE: BOOKSTRUCKER

APRIL 2020 // BUSINESS IN EDMONTON // BUSINESSINEDMONTON.COM

THE PREMIER’S PLAN – ONE YEAR IN // COVER

BUSINESSINEDMONTON.COM // BUSINESS IN EDMONTON // APRIL 2020

THE PREMIER’S PLAN – ONE YEAR IN // COVER

He acknowledges that many problems remain. “We continue to dig our way out of five years of economic malaise,” he says. “We inherited a province that was basically in recession in 2019 and we continue to face very strong challenges – from the campaign to landlock our energy to a federal government that seems hostile to our economic interests. Those challenges remain, but I like a good challenge.” A key pillar to Kenney’s plan is the reduction of the corporate tax rate, from 12 to eight per cent over two-and-a-half years (the rate was lowered to 10 per cent last June). Critics have argued the cut is burdensome on public expenditures and is not having the intended effect. (In January, Scotiabank reduced its forecast for the province’s 2020 economic growth to 1.6 per cent from its initial 2.4 per cent projection.) “We didn’t expect it to have a significant economic lift until closer to full implementation,” Kenney counters. “We’ve gone from 12 to 10 points, but we still have to take it down to eight. The economists all underscored the stimulative effect would be felt most in the outer years, because businesses can’t change their investment decisions overnight.” Once it drops to eight per cent, he predicts more money will flow to Alberta. In fact, his government is in discussions with some major corporations in the financial services and aviation industries with advanced plans to move significant operations from other parts of Canada to Alberta, in large measure due to the corporate tax cut. “When Telus announced last fall that it’s going to increase its planned capital investment in Alberta over the next five years by $16 billion, it identified the job creation tax cut as one of the reasons,” Kenney says. “We’re also working on three prospective major petrochemical projects in Alberta, each in the game for $10 billion plus in capital expenditures. They’ve all identified the tax cut as a major reason.” Alberta competes against places like Texas for energy business, he continues, which effectively has no corporate state tax. “We believe this [Alberta’s tax cut] has got us back in the game. And I’m confident when you look back a couple years from now, we’ll see that it really has been a game-changer.” Indeed, in February the Canadian Association of Petroleum Producers (CAPP) projected a positive turnaround in

APRIL 2020 // BUSINESS IN EDMONTON // BUSINESSINEDMONTON.COM

ALBERTA COMPETES AGAINST PLACES LIKE TEXAS FOR ENERGY BUSINESS, HE CONTINUES, WHICH EFFECTIVELY HAS NO CORPORATE STATE TAX. “WE BELIEVE THIS [ALBERTA’S TAX CUT] HAS GOT US BACK IN THE GAME. AND I’M CONFIDENT WHEN YOU LOOK BACK A COUPLE YEARS FROM NOW, WE’LL SEE THAT IT REALLY HAS BEEN A GAME-CHANGER.” investment in the Alberta energy sector for 2020, with a projected $2 billion of increased investment this year, with eight per cent growth in the oilsands and four per cent in the conventional basin. And the corporate tax cut is beneficial to all Alberta businesses. “It’s the best way to promote diversification,” Kenney says. “We need to create the right overall market conditions, rather than narrow subsidies or tax preferences, with some very limited exceptions.” Those exceptions include the petrochemical diversification program, necessary to compete against the Gulf Coast. Diversification, he cautions, can’t come at a cost to the energy industry. “The two have to go together,” he urges. “We have a current global market value of over $11 trillion worth of oil in this province. And trillions more in natural gas. So, whether people like it or not, this is by far and away the largest industry in Alberta, the largest sub-sector in the Canadian economy. “One of the best ways to continue the 30-year gradual diversification of the Alberta economy is by extracting greater value from our energy sector,” Kenney continues. He points to several sectors – for example information technology, research and development and petrochemical – which are spinoffs of energy. The tourism and agri-food industries are other sectors with promising growth potential.

Close the Deal with Confidence MNP Corporate Finance would like to thank our clients for trusting us with their transaction advisory needs. The following is a selection of transactions completed across Canada in 2019.

FINANCEMENT D’ENTREPRISES

has acquired

DENTAL LABS CANADA

The Aggregates division of

has acquired

MNP Corporate Finance Inc. was the exclusive financial advisor to Jack Cewe Ltd. in structuring and negotiating this transaction.

MNP Corporate Finance Inc. acted as exclusive financial advisor to Carlton Dental Laboratories in structuring and negotiating this transaction.

A Confidential Buyer a portfolio company of

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MNP Corporate Finance Inc. was the exclusive financial advisor to Stag’s Hollow Winery & Vineyard Ltd. in structuring and negotiating this transaction.

has acquired

MNP Financement d’entreprises a agi à titre de conseiller financier exclusif pour iHaul Freight Ltd. lors de la structuration et des négociations de cette transaction.

MNP Corporate Finance Inc. acted as exclusive financial advisor to Preston Phipps Inc. in structuring and negotiating this transaction.

has acquired an interest in

has acquired

a portfolio company of

has acquired

MNP Corporate Finance Inc. acted as exclusive financial advisor to Western Truck Body Mfg. in structuring and negotiating this transaction.

has acquired a majority interest in has acquired

MNP Corporate Finance Inc. acted as exclusive financial advisor to Noble Concrete (1987) Ltd. in structuring and negotiating this transaction.

MNP Corporate Finance Inc. acted as exclusive financial advisor to Wingenback Inc. in structuring and negotiating this transaction.

MNP Corporate Finance Inc. was the exclusive financial advisor to North Delta Seafoods Ltd. in structuring and negotiating this transaction.

MNP Corporate Finance Inc. acted as exclusive financial advisor to Integrity Wheels Ltd. in structuring and negotiating this transaction.

A Confidential Buyer has acquired has acquired

MNP Corporate Finance Inc. acted as exclusive financial advisor to Policy Works Inc. in structuring and negotiating this transaction.

has acquired has acquired

MNP Corporate Finance Inc. acted as financial advisors to a confidential buyer in structuring and negotiating this transaction.

MNP Corporate Finance Inc. acted as exclusive financial advisor to Universal Ford Lincoln Sales Ltd. in structuring and negotiating this transaction.

MNP Corporate Finance Inc. acted as exclusive financial advisor to Rigney Building Supplies Ltd. in structuring and negotiating this transaction.

has acquired

MNP Corporate Finance Inc. acted as exclusive financial advisor to De La Fontaine Industries Inc. in structuring and negotiating this transaction.

A Confidential Buyer a portfolio company of

has acquired has acquired

has acquired

has acquired has acquired the Calgary, Alberta division assets of

Grand Medicine Pharmacy MNP Corporate Finance Inc. acted as exclusive financial advisor to Pommies Cider Co. in structuring and negotiating this transaction.

MNP Corporate Finance Inc. acted as exclusive financial advisor to Grand Medicine Pharmacy in structuring and negotiating this transaction.

MNP Corporate Finance Inc. was the exclusive financial advisor to Biopolicy Innovations Inc. (d.b.a. Policy Reporter) in structuring and negotiating this transaction.

MNP Corporate Finance Inc. was the exclusive financial advisor to Urban Impact Recycling Ltd. in structuring and negotiating this transaction.

MNP Corporate Finance Inc. acted as exclusive financial advisor to Norweld Stress (1994) Ltd. in structuring and negotiating this transaction.

For more information, contact Mark Regehr, CFA, Managing Director, MNP Corporate Finance at 780.969.1404 or mark.regehr@mnp.ca

THE PREMIER’S PLAN – ONE YEAR IN // COVER

Other business-boosting measures implemented by Kenney’s government include amending labour laws (elimination of automatic union certification with carding and a reduced minimum wage for youth, among other measures), the red-tape reduction initiative (to reduce by at least one-third the number of regulatory requirements imposed by government), and the Royalty Guarantee Act. “We want investors to know that when they invest in a well in Alberta, the royalty regime is not going to be jerked around by politicians,” Kenney offers. “It’s predictable and stable.

The decision by Teck Resources to withdraw its Frontier mine application in February (the blame for which Kenney places squarely on the Trudeau government) undermined that goal, as have the rail blockades and protests. “The Government of Alberta is prepared to do whatever it takes to ensure our economic future, including a future of responsible resource development,” Kenney says categorically. “We will not back down. Alberta is prepared to invest directly and support companies and indigenous groups when necessary to ensure the future of responsible resource development. We rule nothing out in that regard.”

“Our goal is to be the freest and fastest moving economy in North America – to give us that competitive advantage on the regulatory cost of doing business.”

The first bill tabled by the government in the spring session aims to prevent protesters from setting up blockades, protests or similar activities on infrastructure deemed

ABOVE: PREMIER JASON KENNEY SHARES A LAUGH WITH THE LATE JASON GOODSTRIKER FOLLOWING ALBERTA’S SPEECH FROM THE THRONE (MAY 22, 2019)

APRIL 2020 // BUSINESS IN EDMONTON // BUSINESSINEDMONTON.COM

THE PREMIER’S PLAN – ONE YEAR IN // COVER

KENNEY’S GOVERNMENT ESTABLISHED THE $1-BILLION ALBERTA INDIGENOUS OPPORTUNITIES CORPORATION, TO INCREASE INDIGENOUS COMMUNITIES’ ACCESS TO CAPITAL AND TECHNICAL SUPPORT TO INVEST IN NATURAL RESOURCE PROJECTS AND RELATED INFRASTRUCTURE. essential by imposing stiffer fines and potential jail time. Another critical fight with Ottawa is over Bill C-69, the so-called “no more pipelines” law. “It creates massive uncertainty and potentially endless timelines for major projects, not just in oil and gas but in other industries,” Kenney warns. The fight will end up at the Supreme Court of Canada, where nine out of 10 provinces and every major industry group will oppose it. “We’re also looking to support prospective First Nations challenges to the constitutionality of C-69 and the tanker ban [Bill C-48],” he adds. “We’ve created the $10-million indigenous legal defence fund to level the playing field.” The first recipient of the fund is the Woodland Cree First Nation, which received $187,688 to join the province’s challenge to Bill C-69. “So much of what we read in the news about Aboriginal opposition to resource development is completely distorted,” Kenney laments. “The truth is that the vast majority of western Canadian First Nations support responsible resource development.” Indeed, in his first month in office, he convened a meeting of all 48 Alberta chiefs who were virtually unanimous in their support for economic and resource development. “All 20 northern B.C. First Nations, through which the Coastal GasLink pipeline is projected to pass, support it and have benefit agreements with TC Energy. All 14 northeast Alberta First Nations in the area around the proposed Teck Frontier mine supported it. We have three Aboriginal

consortiums vying for prospective co-ownership of TMX. For me, indigenous inclusion in resource development is key.” To facilitate this, Kenney’s government established the $1-billion Alberta Indigenous Opportunities Corporation, to increase indigenous communities’ access to capital and technical support to invest in natural resource projects and related infrastructure. While his government scrapped the provincial carbon tax and won a key victory against the federal carbon tax at the Alberta Court of Appeal in February, he reiterates his government’s commitment to reducing greenhouse gas emissions. To this end, the Technology Innovation and Emissions Reduction (TIER) plan was implemented, projected to help reduce emissions by 53 megatons per year. “It took a lot to get an equivalency agreement with the federal government,” he says. “We worked very closely with industry on that.” Apart from legal challenges, Kenney has other key parts to his plan to deal with an antagonistic federal government. “There is a wide spectrum of ideas to get Ottawa’s attention and to demonstrate our willingness, if pushed to the wall, to stand up and exercise our full constitutional autonomy,” he says. Two options are the creation of an Alberta pension plan (which, he says, would save taxpayers $3 billion per year) and an Alberta provincial police force to replace the RCMP. He also wants to give Albertans a greater voice, and tabled the Citizens’ Initiative Act in the spring session, which gives citizens the right to propose legislation on an issue of their choice, and have it voted on in a referendum. He also plans to build upon alliances with other provinces in order to gain more victories like that won in November at the Council of the Federation. “We got all 13 premiers to sign onto our request for a retroactive lifting of the cap on fiscal stabilization,” he says. “The feds had capped our payments at $500 million when we should have been getting roughly $2.6 billion. We calculate there’s about $2.5 billion outstanding to Alberta. That’s our ask from Ottawa, plus to lift the cap prospectively.” If the federal government fails to pay, Kenney is prepared to hold a referendum on equalization in October 2021. “We would propose a constitutional amendment,” he explains.

BUSINESSINEDMONTON.COM // BUSINESS IN EDMONTON // APRIL 2020

THE PREMIER’S PLAN – ONE YEAR IN // COVER

“To delete the principle of equalization from the Canadian Constitution. Albertans are not against equalization, but we need to send a message that if Ottawa and some provinces will not allow us to fully develop our resources and get them to global markets through pipelines, we cannot be expected to pay all the freight in the federation.” Pipelines remain at the forefront of the issues and oil pipelines, including TMX, are essential. Kenney is optimistic that TMX will be completed, noting that pipe is now being laid. “There’s strong public support for the project across Canada and in B.C., and a growing number of First Nations on side. I believe that there will be indigenous co-ownership at some point, which will be a game-changer.” He’s also hopeful Keystone XL and Enbridge Line 3 will be completed, and expects the latter to come online by the end of the year, adding 380,000 barrels of egress. “But even in these challenging times and with the application of curtailment production caps on Alberta crude, we are producing and exploiting more oil than we ever have in our history, partly because of pipeline optimization,” Kenney points out. “We have seen a quadrupling of rail shipments in 2019 from roughly 100,000 to 400,000 barrels per day. Between pipeline optimization and additional rail shipments, I think we have a clear path forward until we complete TMX and/or Keystone XL.” The public relations battle is being fought by the CEC, which, despite some early gaffes, Kenney believes is producing good content. “We need to be consistent about these efforts because we’ve been victims of a massively-funded campaign to landlock Alberta energy, which has been effective in the courts, politics and increasingly with investors,” he says. The CEC will respond in real time to the lies told about Alberta energy and tell the positive story. “Our shrinking carbon footprint. The cutting-edge new technologies. The progress on carbon capture, utilization and storage. The huge investments in gas cogeneration and the replacement of steam with solvents in the oilsands. The fact that we are now below the benchmark for carbon intensity for energy in North America. These are the stories we need to tell to the general public and investors in Canada, Europe and elsewhere.” It will soon launch significant advertising campaigns to promote TMX in B.C., energy literacy across Canada, the

industry’s environmental, social and governance metrics, and LNG as a way to unite the country and generate prosperity. Not in favour of “Wexit” or any form of Alberta separation, Kenney nevertheless understands the frustration and doesn’t dismiss it. “I told the prime minister: ‘You’ve got the second-largest economy in Canada’s modern history where 80 per cent of the population says they sympathize with the separatist sentiment.’ This is real. But my patriotism is unconditional, and if the people of Alberta ultimately want to secede from the federation, they’ll have to find a different premier in a different party to lead them through that. “Having said that, it’s clear the current arrangement is not working for Alberta. We are expected to pay the majority of the bills but not allowed to develop the wealth to cover those bills. So, that’s why we’re lining up all of these points of leverage – the prospective provincial pension plan, provincial police force, equalization referendum and a number of other tools. Our government will have to calibrate when we play those cards and how to maximize our leverage with Ottawa, while at the same time reinforcing alliances.” All in all, Kenney is confident in his government’s plan, urging Albertans not to give up. “I know it’s been a tough ride for five years, but I really believe 2020 is the beginning of the turnaround,” he says earnestly. “We are projected to lead the country in economic growth. We have the youngest population in North America and the best educated in Canada. We have a diverse society and population growth. Alberta is a value buy right now. By the end of 2020, I believe we’ll get our mojo back.” ABOVE: PREMIER JASON KENNEY MEETS WITH WORKERS AT TOTAL ENERGY SERVICES AS HE ANNOUNCES THE FIRST INITIATIVE FROM ALBERTA’S BLUEPRINT FOR JOBS (MAR. 2, 2020)

APRIL 2020 // BUSINESS IN EDMONTON // BUSINESSINEDMONTON.COM

HEALTH CARE INNOVATORS IN EDMONTON // HEALTH CARE

HEALTH CARE INNOVATORS IN EDMONTON BY DYLAN MACDOUGALL

n the field of health care, innovation is key. Business in Edmonton spoke with three local innovators that prove Edmonton is a leader in the evolving world of health care.

Health City

“Since being featured in November 2018, Health City has, first off, launched a number of initiatives that moved the needle forward on data.” For Health City, data is an important thing to focus on, as “the power to transform health lies in our ability to effectively use health data to impact outcomes and save costs in our system.”

Back in 2018, we profiled Health City, an organization in Edmonton that “catalyzes, accelerates and connects the health innovation ecosystem in Edmonton and the surrounding region.” Now, we interviewed them again, to see how things have changed since we last spoke. If you are interested in reading our 2018 profile of Health City, you can find it on Business in Edmonton’s website.

Bruni explains one way in which Health City uses data to make progress, noting, “We launched an artificial intelligence and health data project to look at intervening early for seniors with complex health issues.” In addition to that, Bruni states that Health City is “about to launch a synthetic data project that creates a fictitious data set (thereby having no personal information) reflective of health data for use by the community.”

According to Antonio Bruni, director of business development at Health City, they have been quite busy since 2018.

In addition to innovating in regard to data, Health City has also “improved government and industry collaborations

BUSINESSINEDMONTON.COM // BUSINESS IN EDMONTON // APRIL 2020

Christenson Communities Introduces Homecare

hristenson Communities Ltd. (CCL), an Edmonton firm, has been a leader in innovative long-term active adult living in Alberta for over 50 years, with award winning complete communities that include adjacent housing for professional workers. CCL also has partnerships to advance healthy community living and active aging with institutions such as NorQuest College, MacEwan University and Alberta Community Builders. Now, Greg Christenson, president, is pleased to announce that CCL is now offering custom homecare. “After identifying gaps in the public model, and among our competition, Christenson’s homecare programming focuses on high quality condos with private kitchens, robust options for our members to live with their partners and pets, outstanding social programs designed to engage the body and the mind (and to prevent isolation), our signature level of care for each resident, and adjustments as needed to accommodate our clients and their families,” Greg says. “The current public model is hampered by not being able to accommodate couples and by long wait times. The Christenson homecare plan aligns with UCP’s vision to grow community-based models of care and ease reliance on the institutional style of public care.” To further this vision, Izabella Roth, BSc, BScN, MBA, joined CCL as CEO on February 18.

Izabella Roth, BSc, BScN, MBA CEO, Chief Executive Officer

Izabella, whose previous experience includes leading roles with Bayshore HealthCare and Alberta Health Services says, she is “loving it” when asked about joining CCL. “I have lived in France and in the States and have experienced the full spectrum of public and custom homecare,” she says. “When I started my career and took my MBA, my biggest fear was working in healthcare and not being able to impact change. I was on the search for something different, but in Alberta, finding options other than government/public was difficult. So, when I was approached by Bayshore for a sales role and to lead private healthcare, I was all for it.” During her time at Bayshore, Izabella grew her division by 2,799% and took the field staff from less than 20 to over 400. She also drastically reduced turnover and built a family within Bayshore. “When I was approached by Greg, his vision for homecare really resonated with me,” she continues. “CCL is local and aligns with my advocacy for custom homecare. We do have a great healthcare system in Canada, but it has some flaws. I can’t stress enough how much I believe in bringing back customer service to healthcare based on my firsthand professional and personal experiences in the field.” Izabella describes some of the CCL differences when it comes to custom healthcare. “We do something unique and different in healthcare. We do personality matching. We find out what our clients like, and we go out and find a caregiver to match their needs. We can match clients to providers that speak their language and understand their culture. We can match vegan clients with someone that understands their food preferences. We can match outdoor enthusiasts with a care provider that loves the great outdoors. Our homecare program is designed around each patient’s physical and emotional needs and can be anything from meal support to pregnancy and postpartum support to full palliative care.”

Learn more at cdlhomes.com

HEALTH CARE INNOVATORS IN EDMONTON // HEALTH CARE

and launched novel market opportunities in emerging sectors, such as augmented and virtual reality.” In regard to collaborations specifically, since 2018 Health City has “developed meaningful collaborations nationally and internationally with organizations including the Canadian College of Health Leaders, Digital Health Canada, the Digital Technology Supercluster (in BC), and the European Connected Health Alliance.” Overall, Bruni and the team at Health City are incredibly happy with the progress and growth that they’ve seen over the last couple of years. The city of Edmonton’s progressiveness in regards to health care, according to Bruni, has been helpful in creating other successes as well. As Bruni states, “we have been incredibly fortunate to have leaders from the community contribute to the governance of Health City’s board of directors, as well as draw on the expertise of diverse stakeholders in the Health City steering committee, industry advisory committee, and working groups.” Despite making such progress in the last two years, though, Bruni stresses that Health City is not done moving forward and innovating. “Health City’s goal is to build community platforms that allow companies to scale, as opposed to solely focusing on helping individual products get to market.” These larger initiatives, says Bruni, “enable multiple companies to benefit, strengthening our region’s critical mass in the new health economy.” Therefore, Health City will continue focusing on community when innovating in the field of health care, since they are certain that “locally and provincially, there are an abundance of assets that, when efforts are coordinated, have the potential to be transformative.”

Acumen Sports and Shoulder Clinic Acumen Clinic provides assessment, diagnosis, and surgical and non-surgical care for shoulder and sports injuries in Edmonton, Calgary, Vancouver, and Kelowna. LeeAnne Gullett, project manager and certified athletic trainer, states, “We like to think we are transforming the health care field in setting the standard of care and raising the bar.” One of the main ways that Acumen innovates is by

APRIL 2020 // BUSINESS IN EDMONTON // BUSINESSINEDMONTON.COM

focusing on the quality of care that their patients receive. Gullet states, “I believe there is room for improvement in health care in Edmonton. People tend to forget it is about the patient and what they need and want.” Because of this need for improvement in Edmonton’s health care services, Acumen takes pride in their quality of care, supporting each patient through their journey to living the active or pain-free life they are searching for. “Acumen Clinic is challenging the common ways that health care is delivered, since we want our patients to have all the options and to be able to make the decision regarding their care plan,” she confirms. In addition to their groundbreaking quality of care and open communication with patients, Acumen also innovates by utilizing platelet rich plasma injections, or PRP, as a pain reliever for arthritis. While PRP is not a regenerative medicine, it can be beneficial for pain relief, for the right candidates. Gullett shares, “We are constantly working to stay informed about the latest evidence for the use of PRP and other biologic treatments in the conditions we specialize in.” Whether or not you are the right candidate for PRP injections, Acumen offers other options for recovery. “Many patients can benefit from proper integrated exercise and therapy.” That is why Acumen fully “believes in the powerful benefits of movement and the effects it has on a diverse population.” In addition to their research and use of biologics for pain treatment, as well as their belief in the power of exercise and movement for proper recovery, Acumen also prides themselves on their high quality of care when it comes to patients. It is that quality of care that ensures their patients are properly informed about their surgical and non-surgical options, as well as their recovery, and that they know what to expect from their treatment journey.

Metabolomic Technologies Inc. Metabolomic Technologies Inc. is an organization that specializes in “the development of novel metabolomicsbased diagnostics for the health care market.” According to

Exceptional Client-Focused Care from ExquisiCare

ith two homes already open and a third set open this summer, ExquisiCare is proud to offer inclusive, community focused long-term senior care in residential neighbourhoods. The concept of ExquisiCare began when Dawn Harsch’s work as a registered nurse brought her close to many Alberta individuals and families and their struggles with finding the care and housing they wanted for their loved ones. Most longterm care facilities offer quality medical care, but what about quality of life? She couldn’t see anywhere in the health care system that she would want to place her loved ones, should they require long-term care. As Dawn’s career in nursing progressed to leadership roles in Alberta’s health system, she could see that there was room for improvement in both the care offered and the housing model for delivering care to our senior citizens. Inspired by a desire to make a big difference, Dawn pursued an MBA and honed her vision for a new venture: combining topnotch medical care, an innovative housing model and quality of life for seniors. Dawn’s vision included finding a way to truly partner with families in the care of their elders. At ExquisiCare, we understand that every resident is an individual with unique circumstances and needs. That is why our staff sits down for a personal conversation with each resident, and their loved ones, so we can get to know them

W H S Ac U OM ce pt MM E in gR E O es R 2 PE er 0 N va tio 20 IN . G ns No w!

and understand their likes, dislikes and personal daily routine. This ensures that each resident receives individualized service, tailored to their individual tastes, unique circumstances and specific needs. Adapting our service to attend to these needs is the foundation of our service philosophy. ExquisiCare offers a distinct alternative to an institutional environment. Step inside one of the ExquisiCare homes and you will be warmed by that special feeling of being at home, greeted by name, and the welcome sights and sounds of a happy home. Residents’ families are welcomed as partners in their loved one’s care, while the ExquisiCare staff meet their goal of delivering client-centred residential care grounded in the values of love, reverence, and family. ExquisiCare provides 24-hour nursing care; three wholesome, home cooked meals each day; snacks; and full assistance with bathing, dressing, and medication. Housekeeping and laundry are included in our services. Our Life Enrichment program provides daily in-home activities, games and regularly scheduled outings to community events. You have a choice when it comes time to choose your long-term senior living residence and ExquisiCare offers an alternative to the traditional public model. With ExquisiCare, seniors can live on a residential street, in a community, and enjoy the family atmosphere and personal care they need, all while retaining their independence.

780-540-8358 • info@exquisicare.com www.exquisicare.com Providing all levels of care; from Assisted Living up to Long Term Care in our residential homes, with professional staffing. Honouring our Core Vales of Love, Reverence, and Family.

HEALTH CARE INNOVATORS IN EDMONTON // HEALTH CARE

Kevin Ens, COO, their lead product, the PolypDx, is the first and only urine-based screening test for colorectal cancer. Even though colorectal cancer, or CRC, is considered to be preventable at the precancerous polyp stage, it is still one of the leading causes of cancer in men and women worldwide. Ens states, “Current fecal-based tests have low screening compliance and do not necessarily detect precancerous polyps.” Metabolomic Technologies Inc., therefore, developed PolypDx “in response to the inadequacies of current colorectal cancer screening methods and the urgent need for a more patient-friendly, accurate and inexpensive population-based screening test for CRC.” Overall, they are pleased with the results. Ens points out that one of the most innovative aspects of the PolypDx is that

it is a simple and effective test, requiring only a small urine sample to offer peace of mind in the prevention of cancer and the management of the disease. For Metabolomic Technologies Inc., the city of Edmonton has been very helpful in getting their idea made into a reality. “The city is home to the University of Alberta (U of A),” Ens says, “one of Canada’s leading research-intensive universities with over $500 million in research activity. The U of A has leading researchers that enable new discoveries like ours, and that help provide the innovation that leads to groundbreaking new ideas.” However, even with great researchers at the U of A, and the city’s public health system (one of the biggest in Canada), Ens believes there is room for improvement in Edmonton in terms of health care innovation. He says, “There are few health startups and there are virtually no health-related capital funds in Alberta. Often, we are required to reach outside of Alberta, and ultimately, outside of Canada to find the partners we need to finance our company and provide connections for us to move our technology forward.” Despite some setbacks, though, Ens is happy with the way things have gone for Metabolomic Technologies Inc. and for PolypDx. By forging both national and international partnerships with health care and research organizations, Metabolomic Technologies Inc. has been able to release a truly innovative product, and one that will benefit the health care community not only in Edmonton, but hopefully all over the world.

APRIL 2020 // BUSINESS IN EDMONTON // BUSINESSINEDMONTON.COM

PLANNING, NOT PANICKING, IS THE KEY TO A SUCCESSFUL SUCCESSION // SUCCESSION PLANNING

PLANNING, NOT PANICKING, IS THE KEY TO A SUCCESSFUL SUCCESSION BY NERISSA MCNAUGHTON

uccession happens for every company, whether the owners are ready or not, as Deborah MacPherson, tax partner and tax business unit leader, and Nicole Osolinsky, tax partner, with KPMG’s Edmonton office point out. It’s better to plan than to panic – especially for entrepreneurial Baby Boomers. “Entrepreneurs are a special breed,” says Osolinsky. “They are all in, focusing on the business. It can be hard for them to pull themselves out and think about what life looks outside of that. It’s not a failure on their part, it’s just in their DNA.” “Then,” she continues, “a critical event happens like a death or serious illness. The thought at that point is, ‘What do I do? Run around and find a buyer? Can the kids step in? What if they don’t want to or aren’t ready to run the business?” MacPherson adds, “They often get an unsolicited offer out of the blue. That is also a trend. That is usually when people start to realize that maybe there is life after the business to think about.” Both point out that “transition” is a better word for the procedure than “succession,” because there are so many paths the transaction can take. “Succession sounds final and feels like a hard line in the sand. Transition sounds more like a change into a different role whose identity is still attached to the business,” explains Osolinsky. “A transition is what it means to go from managing a business to managing family wealth. One path is looking at an exit strategy that might involve a sale, another

is involving children in the business or eventually passing it to family or a management group.” “Transition makes them feel involved and is encompassing,” agrees MacPherson. “It could be a sale, partial transfer, or even just new management.” The number one thing to remember, they advise, is that life happens whether you are ready or not – so plan before you have to panic. “If you don’t plan, things don’t necessarily turn out the way they should,” says MacPherson speaking to when succession is triggered by an unexpected event. “Crisis mode equals loss of value,” adds Osolinsky. “Plan ahead so if a crisis does happen, you can reduce the amount of stress, not just on your family members, but also for your employees.” When should entrepreneurs start planning for succession? “Today!” says MacPherson emphatically. “The best time was probably three years ago; the next best time is now. You always want to think about the succession, be it an exit or a transition. You want to be in control.” Osolinsky confirms, “We tell our clients to think about a sale three to five years before you want to take action. This gives you enough time to truly model the sale, get the best calculations, prepare for financial results, clean up income statements, organize data, and so on. It allows you to work through everything while still keeping your eye on the business. In a rush, you focus on the deal and your eye is off the business.”

BUSINESSINEDMONTON.COM // BUSINESS IN EDMONTON // APRIL 2020

PLANNING, NOT PANICKING, IS THE KEY TO A SUCCESSFUL SUCCESSION // SUCCESSION PLANNING

She continues, “It’s not just what you sell for, it’s also what you get to keep in your jeans. Planning means a better after-tax result. Having professionals help you through the process gets you there.” “There is so much to think about that you can’t let it happen naturally and hope for the best,” advises MacPherson. “For example, what if a founder has three children, but only one is ready to lead and take charge? That is a real issue when it comes to transferring the business to family, and working through those dynamics can take around three to five years of focused thinking and planning.” Osolinsky agrees saying, “In the event of a death, stress, grief and conflict amongst siblings are common. What if nobody wants to carry on and they want to sell? These are all things that should be considered ahead of time.”

KPMG advisers have been helping family businesses in the Edmonton area for over 90 years. Reach out to an adviser today to understand how KPMG can help you at 780-4297300 or www.kpmg.ca.

KPMG creates customized long-term transition strategies for business owners so whether succession is triggered by design or an event, the process can go as smoothly as possible.

One company that planned ahead and used the guidance of KPMG for a successful transition was Silverberg & Associates Inc. (o/a Silverberg Group).

They explain, “In terms of selling, a pre-divestiture plan helps you prepare for all elements of the sale including calculations and compiling information. We have the ability to model various scenarios such as what if we sell for X? Should we sell for shares? Assets? How can we reorganize the business now for the best after tax position? This helps give you some perspective into possible options and helps you drive the deal when you go to market, and what you want it to look like.”

“Silverberg Group was founded in 1996 by brothers Doug and Scott Silverberg, says Kim Silverberg, whose role in the company was general counsel. They grew the business to be the largest group insurance brokerage in Alberta. The brothers had great vision and saw that the industry was changing. In order to keep growing the business and offering more for their clients, they were going to have to invest a great deal of time and money in software, technology and manpower. They were not opposed to doing that, but were also looking more seriously at offers from national and multinational companies that had already made these investments. These offers also made good sense for succession planning as the brothers were approaching their 50s. The offer had to make sense both for the business and for their families.”

“For family businesses we help with governance, legacy planning, post-sale, financial education of the next generation, amongst other things. We have professionals who can help navigate the complexities of family business and family dynamics, professionals who take the time to understand the driving factors amongst the various stakeholders involved. We can then provide guidance to help ensure your family dynamics are not impacted by decisions made in the family business.”

She notes that the process was “time consuming and stressful,” pointing out that, “It removes focus from ABOVE: NICOLE OSOLINSKY, TAX PARTNER AND DEBORAH MACPHERSON, TAX PARTNER & TAX BUSINESS UNIT LEADER - KPMG’S OFFICE IN EDMONTON. PHOTO SOURCE: REBECCA LIPPIATT

APRIL 2020 // BUSINESS IN EDMONTON // BUSINESSINEDMONTON.COM

Could you benefit from a family office? Experience life. Your family. Your wealth. KPMG’s Family Ofﬁce suite of services takes a multi-disciplinary, focused approach to the individual needs and goals of family businesses. We understand the abundance of issues faced by families and family ofﬁces, and can help you navigate those issues through a highly customized and personalized plan. Family continuity Bonding generations to family values

Life admin Experience life, don't manage it

KPMG’s Family Office Approach

Wealth strategy Our independence delivers objective financial analysis

Impact ventures

Tax efficiency

Supporting your family’s strategy to help maximize impact

From your current tax situation to taxes for the next generation. Long term tax planning makes a difference.

Speak to a KPMG adviser in Edmonton to learn more: Deborah MacPherson

KPMG Tax Partner T: 780-429-7374 E: dmacpherson@kpmg.ca

kpmg.com/ca/familyoffice

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PLANNING, NOT PANICKING, IS THE KEY TO A SUCCESSFUL SUCCESSION // SUCCESSION PLANNING

operating the business and took everyone out of their comfort zone. Having professionals that can guide and help manage the process is absolutely necessary.” The advice from Silverberg for other companies thinking about succession planning is this: it is never too early to begin planning. “It should also be an ongoing process to meet and plan with professional advisors. Family dynamics change and so do rules and regulations. Good planning takes time and we learned that some plans have to be put in place long before any offer has been made. “Be prepared to invest a lot of time in the process. The focus of decision makers will be on the offer or transaction and not as much on the business. Make sure the right people and processes are in place so that the business can continue operating; not all offers become closed transactions. “It is imperative to have exceptional professionals on your side. Do not agree or accept terms before getting advice on the structure of the transaction. Small suggestions from professionals can have large consequences. For example, deciding on whether or not to sell assets or shares can have very wide variances in net proceeds at the end of the transaction depending on your pre-transaction planning. It is complicated! Get good advice.”

family, I can leave my visions with my son to take into the future and I feel safe in the trust I have in him to not take advantage of that. It allows me to continue the legacy my father built years ago.”

Another succession example is seen in Bob Dale Gloves (BDG), whose transition includes the third generation of the family.

His son is excited to be part of the succession plan, and to remain with the family business, saying, “I knew when I was around 16 years old that the family business was where I needed to be. Watching my father as an idol, I worked hard in every aspect I could to be like him some day. I had worked for a year in the warehouse after high school to get some experience and learn from the bottom, and then worked as a team member in every department: purchasing, marketing, operations. Then I was back in university to finish my studies before starting full time at BDG around the age of 22.

“I had always hoped that Brad would want to take over some day, but it wasn’t until he finished his business degree and still showed a very strong interest in being a part of BDG, that I realized my dream was coming true,” says Denis Dale, president, of his son Brad, vice president.

“Keeping the values set at the start of a company to follow your long-term vision is one of the main advantages for running a family business. Both my father and I trust each other indefinitely to obtain the same vision and we are both committed to the success of this company.”

He continues, “The biggest gift of remaining a family business is culture. Having a partner join that wasn’t a part of our family would bring a different set of values. With

Whether your succession plan is a sale, a transition, or movement within the family business, the key is to involve the right professionals and to start the process now.

She concludes, “You must also be cognizant of the costs of those professionals. Be upfront with them about their fees. Remember that they must be paid even if the transaction does not move forward.”

ABOVE: DENIS DALE, PRESIDENT AND BRAD DALE, VICE PRESIDENT OF BOB DALE GLOVES (BDG®). PHOTO SOURCE: EPIC PHOTOGRAPHY INC.

APRIL 2020 // BUSINESS IN EDMONTON // BUSINESSINEDMONTON.COM

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BUSINESSINEDMONTON.COM // BUSINESS IN EDMONTON // APRIL 2020

MIND THE GAP // HUMAN RESOURCES

MIND THE GAP

IT’S THE RISING UNEMPLOYMENT RATE VERSUS THE HUNT FOR SKILLED LABOUR

BY NERISSA MCNAUGHTON

lberta Labour Force Statistics 2020 provides a snapshot of unemployment in Edmonton – and it’s not a pretty picture. At the time of the report Edmonton had risen from 6.4 per cent in January 2019 to 8.2 percent in January 2020. However, as a corporate writer I have the privilege of talking to many of the city’s business leaders and entrepreneurs and a common theme I hear when discussing the challenges of operations is how hard it can be to find staff. There’s a gap here. One side has a rising unemployment rate and the other side struggles to find employees. What’s going on? Norma Schneider, vice president, teaching and learning at NorQuest College has some insights. “The impact of babyboom retirees is not being backfilled by our current youth and immigrant populations. As a result, workforce shortages are real, and even if the economy stabilized or decreased slightly, we would be still be facing labour shortages.” Schneider is ideally positioned to see why there is such a gap. She explains, “NorQuest works closely with our industry and government partners through our Workforce Advisory Council and Program Advisory Committees, discovering

and embracing opportunities to understand current and future workforce needs. Through these mechanisms we are able to connect with over 300 employers two to three times per year. In addition, we have an Indigenous Construction Careers Centre, which is supported through a government and industry partnership.”

ABOVE: NORMA SCHNEIDER, VICE PRESIDENT, TEACHING & LEARNING, NORQUEST COLLEGE.

APRIL 2020 // BUSINESS IN EDMONTON // BUSINESSINEDMONTON.COM

MIND THE GAP // HUMAN RESOURCES

SCHNEIDER HAS SOME INSIGHTS. “THE IMPACT OF BABY-BOOM RETIREES IS NOT BEING BACKFILLED BY OUR CURRENT YOUTH AND IMMIGRANT POPULATIONS. AS A RESULT, WORKFORCE SHORTAGES ARE REAL, AND EVEN IF THE ECONOMY STABILIZED OR DECREASED SLIGHTLY, WE WOULD BE STILL BE FACING LABOUR SHORTAGES.” That’s not all. Schneider continues, “NorQuest College is an evidenced-based organization, and we rely on current and accurate research to drive our decisions when it comes to programs and content. We recently partnered with the Conference Board of Canada and worked with the Alberta post-secondary sector and industry to identify skills gaps across key Alberta sectors: oil, gas, and mining; finance, insurance and real estate; health and medical; agriculture; renewable energy and environmental products and services; technology; and the creative and cultural sector.” Through their research, collaboration and partnerships, NorQuest College sees fast employment opportunities in construction, childcare, health care, food services, business management, and manufacturing, and has developed programs that support students looking to make an immediate impact in these areas. Based on the data employers provided in the Building Skills Connections Series, NorQuest College projects the most notable shortages in health and human services, technologies that cross sectors such as big data and machine learning, energies including renewable energy, and different types of agriculture such as cannabis, hemp, and urban farming. “Three themes stood out for us in building a highly skilled workforce,” Schneider says. “First, there are gaps in technical skills related to the particular occupations, which are predominantly driven by the rapid changes in technology.

Second, there are gaps in business management skills, especially for entrepreneurs or in companies where they are losing their management intelligence through retirement.” Interestingly, and rather telling of the times, she also notes, “Third, there are gaps in the area of soft skills and human skills, including adaptability, inclusivity, resiliency, curiosity, and the ability to work in teams.” The solution, she points out, is education – and that is something at which NorQuest College excels. “Post-secondary education works best when it’s in tune with the world around it. It’s not just about a gap between skills and employment—it’s also about making sure that NorQuest students are supported to be workforce ready through initiatives like workforce integrated learning and engagement with industry. NorQuest is very careful to tailor our programs to fill immediate and long-term careers, so whether students aspire to work in health, community studies, technology, energy, business, or any number of other fields of study, they can be confident that they will leave NorQuest ready to succeed.” She concludes, “NorQuest students enter our doors and find a welcoming, inclusive, and diverse learning environment where they get practical, workplace-specific education. Industry likes to partner with NorQuest because our graduates add value from day one, since they have learned not only the theory, but how to apply their learning in the workplace and in the community prior to graduating. We are also in the process of infusing key human skills into our programs, so students graduate with the skills employers want—what we refer to as skills of distinction: inclusion, resilience, and new ways of thinking.” Shannon Neighbour, partner at Svensen Neighbour Recruiting, an Edmonton-based recruitment agency that takes a personalized approach to placement, is also ideally positioned to see what’s going on in the gap. “We have a high unemployment rate so lots of great, qualified, skilled folks are looking for work at this moment,” she agrees. “We are finding, however, that now more than ever employers are seeking candidates with a very specific set of skills and abilities. This is not the time to be a generalist

BUSINESSINEDMONTON.COM // BUSINESS IN EDMONTON // APRIL 2020

MIND THE GAP // HUMAN RESOURCES

it’s a time to be a specialist. Organizations are not as willing to take a chance on a candidate who does not have the exact skills the job requires. This could mean having industry experience, experience at a specific level of seniority or product knowledge. Employers are looking for candidates with strong track records and proven accomplishments.” She also sees opportunities in certain sectors. “There is still a need for good business-to-business sales professionals (and always a need for great sellers – even more so in a down economy), digital marketers (as companies try and grow and refine their brand online and also try and keep up with the changing digital landscape) and skills/positions related to AI. AI seems to be an area that is up-and-coming as we look beyond traditional industry like oil and gas.” With so many people looking for work, it can be hard to stand out and get your resume noticed. Svensen Neighbour Recruiting can help job seekers looking for work and employers struggling to wade through the hundreds of applicants they receive for each posting. “We work on behalf of the employer to help them secure the best candidate for the position. We help by providing insight in to available talent in the market and offer guidance around finding the right fit for the organization not only for today in this particular economic climate, but someone who will excel and drive company objectives over the next year, 3 years, 5 years, 10 years and beyond,” confirms Neighbour. “We also help employers by offering a variety of assessment tools that help with candidate selection and with on-boarding and better understanding of how to communicate and work effectively as a team. The assessment tools identify an individual’s communication style, motivators, competencies and emotional intelligence. Utilizing these tools can also be very helpful in mitigating bias in the recruitment process.” For job seekers, she recommends, “Tailor your resume specifically to the position you are applying for and make it obvious to anyone reading your resume how your skills align to what the job requires. Focus on your tangible accomplishments – what quantifiable targets did you achieve? Did you work on an exciting project? Did you receive accolades or special recognition? What are you most proud of?

“Network! Network! Network! Face-to-face interaction anytime, but especially in a down market, is so valuable. It allows people to get to know you, you can showcase your interpersonal skills and it allows you to have authentic conversations that otherwise might not happen in an interview setting. This also helps with morale if you are feeling down about your job search – it gets you out of the house, interacting with other like-minded business professionals and keeps you connected to industry. “Don’t be afraid to rely on your personal and professional network. If you know of someone who works with an organization you want to apply at, ask that individual for advice or ask for a referral. “Be on top of new job postings. Apply quickly. Some positions are getting hundreds of applications so being an early applicant could have advantages to ensuring your resume is noticed.” Edmonton is in a unique position where growing pains from diversifying from the energy sector, unpredictable global factors, and the rapid rise of digital technology are at play. With continued education and resources, there is hope for narrowing the gap for both employers and job seekers.

ABOVE: SHANNON NEIGHBOUR, PARTNER, SVENSEN NEIGHBOUR RECRUITING.

APRIL 2020 // BUSINESS IN EDMONTON // BUSINESSINEDMONTON.COM

TO AIRBNB OR NOT AIRBNB. THAT IS THE QUESTION. // RECREATION & INVESTMENT REAL ESTATE

TO AIRBNB OR NOT AIRBNB.

THAT IS THE QUESTION. BY NERISSA MCNAUGHTON

BUSINESSINEDMONTON.COM // BUSINESS IN EDMONTON // APRIL 2020

TO AIRBNB OR NOT AIRBNB. THAT IS THE QUESTION. // RECREATION & INVESTMENT REAL ESTATE

irbnb. It’s the accommodation solution that allows tourists to enjoy anything from a room in someone’s home to an entire house or condo for less than the cost of a typical hotel. The Airbnb host makes money, the tourist has more choice and control over their budget, and everyone is happy! Right? What could go wrong… While many hosts and tourists report wonderful experiences on both sides of the equation, the Airbnb experience isn’t as straightforward as it seems – especially for condo owners. “The condominium industry is diverse and, in many cases, incorporates residential, commercial and retail spaces under one roof,” explains Curtis Siracky, chair of the Association of Condominium Managers of Alberta (ACMA). “A common concern that has surfaced over the past several years is the Airbnb opportunity for individual unit owners in residential condominiums. The short-term rental scenario creates problems with the security and safety, and compromises the privacy of individual owners that reside in these condominiums.” He continues, “These rentals are becoming more popular for owners to ‘maximize’ the amount of revenue for their investment and promote it to a larger audience. The stay or occupancy of an Airbnb is normally one night or very shortterm. Apartment style condominiums appear to have more Airbnbs than the standard single-family house, town house or duplex style condominium unit. Apartments in Edmonton are typically a lower price point for investors, which make them more attractive. A person that would normally go to a hotel would alter their decision and could get a larger space for a fraction of the cost in a more convenient area with an Airbnb rental.” For many condo owners that are not Airbnb hosts, this is an issue. “The biggest problem in condominiums with these shortterm rentals is that no one knows who is renting the units,” Siracky confirms. “These occupants and their guests are allowed into secure and private property areas. The shortterm occupants abuse parking, policies, and the corporation bylaws mainly because they are not aware, or they just don’t care as they will be gone the next day. There is also no governance over Airbnbs, and owners that use their units as a short-term rental are not required to comply with the

APRIL 2020 // BUSINESS IN EDMONTON // BUSINESSINEDMONTON.COM

EARLIER THIS YEAR A CONDOMINIUM CORPORATION SUED OWNERS WHO WERE RENTING THEIR UNITS AS AIRBNBS, ARGUING THAT THE OWNERS WERE VIOLATING COMMERCIAL USE BYLAWS. THE OWNERS HIT BACK STATING THE BYLAWS ALSO SAID, “BYLAW CANNOT OPERATE TO PREVENT AN OWNER FROM LEASING A UNIT.” Public Health Act and Regulations. This creates concerns with cleanliness and no standard for health.” ACMA would like to see change in this regard. “ACMA’s position on Airbnbs is that short term occupancy needs to be more regulated by local municipalities, which will create a better living environment for condominium owners and also help board members deal with this growing industry in the private sector. ACMA strongly advocates that condominium corporations review their current bylaws and make amendments that give them the ability to either allow or deny an Airbnb or short-term rental.” Earlier this year a condominium corporation sued owners who were renting their units as Airbnbs, arguing that the owners were violating commercial use bylaws. The owners hit back stating the bylaws also said, “Bylaw cannot operate to prevent an owner from leasing a unit.” “Many condominium bylaws prohibit commercial businesses as they propose liabilities not only to the resident or occupant of a unit, but to the common property,” Siracky explains regarding this case. “Condominium boards have challenged short term rentals when faced with problematic units. This would heavily rely on how the bylaws of that condominium is worded for anything to be strongly

TO AIRBNB OR NOT AIRBNB. THAT IS THE QUESTION. // RECREATION & INVESTMENT REAL ESTATE

enforced. Condominium boards may fine the unit owner when the occupants breach bylaws. Sometimes the fines prevent an owner from continuing with an Airbnb as the fines are larger than the revenues.

to see why hosts are keen on Airbnb. It’s a profitable solution to keep money coming in from income properties and can shore up sagging financials for individuals in an economy with a growing unemployment rate. But perhaps the biggest reason why Airbnb is such a juggernaut is because there is an insatiable demand for the product; and where demand goes, supply follows.

“We have heard that some condominium corporations have written into their bylaws to not allow short term rentals based on a period of time. This would allow an owner to still lease their own units, however the term of the that lease would be a minimum of one month or longer.”

Tammy Deren is well known in the Edmonton creative business scene as the entrepreneur behind both The Photographer Studio and Smiley Eyes Photography, and for her philanthropy with non-profits like Thrive Fashion Show. Add to the mix that Deren is a dance mom that travels with her daughter during competition season and that she is an avid tourist and adventurer herself, and you can see

With these types of complications, what is the draw of being an Airbnb host? With one host claiming she earned more than $2,000 in a month thanks to renting her home temporarily, it’s not hard

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BUSINESSINEDMONTON.COM // BUSINESS IN EDMONTON // APRIL 2020

TO AIRBNB OR NOT AIRBNB. THAT IS THE QUESTION. // RECREATION & INVESTMENT REAL ESTATE

“I HAVE BEEN USING AIRBNB FOR JUST OVER THREE YEARS AND HAVE NOT STAYED IN A HOTEL SINCE, WITH THE EXCEPTION OF RESORTS OUT OF COUNTRY,” DEREN CONFIRMS. “I STARTED DISCOVERING AIRBNB WHEN HOTELS STARTED GOING WAY UP IN PRICE AND I NEEDED A ‘HOME AWAY FROM HOME’ FOR A LONGER THAN NORMAL STAY DUE TO MY FATHER PASSING AWAY.” why she turns to Airbnb when travelling for personal and professional reasons. “I have been using Airbnb for just over three years and have not stayed in a hotel since, with the exception of resorts out of country,” Deren confirms. “I started discovering Airbnb when hotels started going way up in price and I needed a ‘home away from home’ for a longer than normal stay due to my father passing away.” Her first Airbnb was a quaint cabin on a beautiful gardened property and the price of $126/night included extras like a light breakfast and fresh coffee. Considering the sad reason for having to travel for that time period, the stay was a big help both financially and emotionally. “From that day on I was hooked,” she continues. “I have since stayed in dozens of Airbnbs all over Canada and some of them even provide homemade baked goods, separate bedrooms, full kitchens, laundry facilities, swimming pools, hot tubs and so much more depending on the property owner. I have a stay coming up that has a lovely claw tub in the bathroom that I can’t wait to sink into after a long day at my daughter’s recitals. It sure beats staying in a cramped hotel room.” For the most part, Deren’s experiences have been positive, but there was an issue based on a misunderstanding. She uses her misadventure, and her knowledge about Airbnb, to counsel other guests on how to have a stay that is positive for guests, hosts, and others living at or near property. “It was partly my fault,” Deren admits. “The space was wonderful and very comfortable. I had a friend I hadn’t seen in years come by for wine, and like all fun girls tend to do, we may have had one glass too many! I offered her the couch for the evening as she lived two hours away. The owner

saw her leave the next morning and was quite upset with me for breaking her rule of no guests. I bought her a huge box of fresh picked blueberries from a farmer nearby, but she refused to give me a good (Airbnb customer) review and was quite short with me. “Each property has their own set of rules, so be sure that you read each set of rules very closely. Always respect the property. Always clean up after yourself. Always treat it like you are a guest in their home.” In trying to balance the popularity of Airbnb with the entrepreneurial opportunity for hosts and the needs of those unwittingly impacted, like non-Airbnb hosts living in a condo where some unit owners are selling short term rentals, there is not a clear path forward – yet. Until legislation is enacted and bylaws are changed, it falls on the guests to respect the property and the hosts to consider their neighbours as we all pursue the accommodating perks and perils of Airbnb. ABOVE: TAMMY DEREN IS WELL KNOWN IN THE EDMONTON CREATIVE BUSINESS SCENE AS THE ENTREPRENEUR BEHIND BOTH THE PHOTOGRAPHER STUDIO AND SMILEY EYES PHOTOGRAPHY, AND FOR HER PHILANTHROPY WITH NON-PROFITS LIKE THRIVE FASHION SHOW.

APRIL 2020 // BUSINESS IN EDMONTON // BUSINESSINEDMONTON.COM

COMMERCIAL RETAIL: IT’S ALL ABOUT LOCATION // COMMERCIAL REAL ESTATE

COMMERCIAL RETAIL:

IT’S ALL ABOUT LOCATION BY WILL PORTER

What factors determine the best location?

hen it comes to starting a new business, expanding to or moving to a new location, the old adage is “location, location, location” – and this still rings true to this day. No matter what type of retail business or service provider you are, success will be dependent on finding a location where your customers can find you easily and conveniently, while also being able to grab the eye of new customers. Several location types are available to retailers and service providers, from freestanding locations in neighbourhood or regional shopping centres, to enclosed shopping centres and malls. Trying to decide among locations can be intimidating for some businesses, but if you know what each location offers, you will be able to make an informed decision that can be fundamental to the success of your company.

BUSINESSINEDMONTON.COM // BUSINESS IN EDMONTON // APRIL 2020

COMMERCIAL RETAIL: IT’S ALL ABOUT LOCATION // COMMERCIAL REAL ESTATE

SHAMEY CONTINUES, “IN MOST CASES, STANDALONE BUILDINGS OFTEN PROVIDE TENANTS WITH GREATER SIGNAGE OPPORTUNITIES TO HELP INCREASE THEIR VISIBILITY, AS WELL AS A DEDICATED PARKING POOL FOR CUSTOMER CONVENIENCE. I BELIEVE THIS THEORY WILL TRANSFORM OVER TIME AS ONLINE SALES CONTINUE TO INCREASE AND AS HOME DELIVERY PROGRAMS BECOME MORE EFFICIENT AND READILY AVAILABLE TO CUSTOMERS.” Firstly, let’s look at freestanding locations, which are generally locations that are on commercial properties and feature a single standalone building and a parking lot for customers. These can be located right off busy highways or hidden away in neighbourhood locations, and are built in a variety of sizes, customized to the need of the business at time of construction. Speaking about the pros for a retailer or service provider when it comes to choosing a freestanding location as the brick-and-mortar location for their business, John Shamey, associate partner of Cushman & Wakefield Edmonton had this to say, “Freestanding buildings are typically occupied by destination based retailers who tend to service larger trade areas than a conventional retailer. In theory, tenants will pursue freestanding buildings for several fundamental reasons, including the idea of having no restrictions on what products or services they can sell, preventing any competition on the property, and they generally offer customers convenient access from major roads.” Shamey continues, “In most cases, standalone buildings often provide tenants with greater signage opportunities to help increase their visibility, as well as a dedicated parking

pool for customer convenience. I believe this theory will transform over time as online sales continue to increase and as home delivery programs become more efficient and readily available to customers. However, there are disadvantages of freestanding buildings, including limited foot traffic and required ongoing marketing initiatives to attract customers.” Indoor shopping centres or shopping malls also have their pros when it comes to choosing these locations for a retailer or service provider. Terry Napper, regional manager, Saskatchewan & Northern Alberta, Cushman Wakefield Asset Services provided his insight on the selection of indoor shopping centres. “Shopping centres have always been community gathering spaces that offer experiences and services beyond traditional retail. It’s the overall experience that drives interest from both retailers and consumers. Londonderry continues to make this a priority and it is a contributing factor to its success, along with providing shoppers a dynamic retail mix.” Napper explains further, “When a retailer is part of a shopping centre, they receive additional support from a marketing perspective, which is hugely beneficial over a standalone location. Shopping centres also have an attentive

ABOVE: JOHN SHAMEY, ASSOCIATE PARTNER CUSHMAN & WAKEFIELD EDMONTON.

APRIL 2020 // BUSINESS IN EDMONTON // BUSINESSINEDMONTON.COM

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COMMERCIAL RETAIL: IT’S ALL ABOUT LOCATION // COMMERCIAL REAL ESTATE

audience, so the opportunity to get a brand in front of the consumer is high. Also, we believe that as consumers experience decision fatigue in the saturated online market, they will return to an offline shopping experience, which centres like Londonderry will be ready to provide.” Shamey also weighs in when it comes to selecting a shopping mall as the brick and mortar location for a retailer or service provider. “Essentially, retailers choose enclosed shopping malls over neighborhood or regional shopping centres for the benefit of its strategic location, high foot traffic, parking facilities and amenities. Enclosed shopping malls provide a convenient one-stop-shop for customers that are seeking a variety of products and a pleasant shopping experience, which in turn significantly reduces advertising costs. The negative aspects of enclosed shopping centres are that they often have expensive rents and substantial marketing fund charges, in addition to high operating costs. Other challenges include fierce competition, seasonal foot traffic, and regulations and rules from mall management.” With the pros and cons of the major locations in mind, the next question is, which types of retailers are going to thrive in such locations. Above, Shamey mentioned that freestanding locations are often going to attract the attention of retailers with larger trade areas than conventional retailers, which are often destination-based brand retailers. He also mentions the types of retailers and service providers that are attracted to neighbourhood or regional shopping centres and enclosed shopping malls. “Grocery stores, liquor stores, gas stations, quick service restaurants and personal service oriented businesses including hair salons, nail salons, medical clinics and dental clinics are usually located in neighborhood shopping centres since convenience is a major aspect of their business. Unique retailers, general merchandise, electronic and fashion retailers generally achieve higher sales from the impulse buyers, which are normally seen in high traffic enclosed shopping malls.” Some retail businesses often benefit the most from choosing an enclosed shopping mall, and Napper gives us the details as to why, saying, “Retailers that offer an experiential shopping atmosphere benefit the most from mall locations. For example, places that offer opportunities to get consultations on wardrobe choices, as well as try-on or test products and

APRIL 2020 // BUSINESS IN EDMONTON // BUSINESSINEDMONTON.COM

gear like beauty retailers or athletic-focused stores, do really well. This experiential shopping also applies to luxury retail and service-based shops such as hair and nail salons.” One challenge currently facing shopping malls is the growing trend of competition from online retailers. Many people have switched to the convenience of using click-and-order online businesses over traditional stores for a variety of their purchases, from electronics, to clothing and even groceries and impulse items. This means that experiential shopping is more important than ever when trying to compete in an enclosed shopping mall. Napper states. “Stores that tend to experience difficulty in this competitive environment are the ones where the difference between being in-store versus shopping online is minimal. Londonderry goes to great effort to attract experiential-focused retailers to the centre.” Through his experience in commercial real estate, and watching changing trends in shopping malls, Shamey also points out the need for shopping malls to attract experiencebased retailers. “In the past, shopping malls used to rely on big box department stores to attract customers, however it is becoming more and more apparent that this model is not feasible. Now, shopping malls owners are focused on targeting retailers that provide customers with fun, unique, interactive experiences that elevate the shopping experience, like an Apple store. The majority of mall shoppers is the millennial demographic, who have proved that most of their purchasers go to experience-related purchases.” An example of this dynamic is also seen in West Edmonton Mall (WEM). According to the Canadian Shopping Centre Study 2019 by the Retail Council of Canada, WEM saw over 30 million people in foot traffic over the year, further showing the continued love for shopping malls. The Retail Council of Canada analysis noted, “Canadian shopping centre landlords are adding entertainment centres to existing properties to further drive traffic, recognizing the success of centres such as West Edmonton Mall.” Choosing the right location for your business is a core building block to the success of your brand. Your choice comes down to what requirements your business needs to fulfill, and the type of experience you want to build for your customers.

2020 Board of Directors

Seizing the economic opportunities of Canada’s North

Board Executive

Chair: Bryan DeNeve Senior Vice President, Finance and CFO, Capital Power Vice Chair: Elan MacDonald Senior Vice President, National Client Development, Global Public Affairs Secretary-Treasurer: Craig Thorkelsson Head of Tax, PCL Constructors Inc. Past Chair: Dawn Harsch President and CEO, ExquisiCare Senior Living and Care at Home Janet M. Riopel President & CEO, Edmonton Chamber of Commerce

Board Directors

By Janet M. Riopel, President & CEO, Edmonton Chamber of Commerce

t the Edmonton Chamber, we’re long-time champions of Canada’s North. We appreciate the incredible possibilities the North represents to grow our economy and increase trade opportunities.

Haydar Al Dahhan Principal, Electrical/Mechanical Engineer, Design Works Engineering

Yet unlocking this potential means more than just overcoming logistical hurdles and geographical challenges – it requires bold vision, innovative ideas and strong partnerships with business, community and government.

Nathan Carter Vice President, Engineering, ATCO Natural Gas

PARTNERSHIPS THAT GROW OUR NORTHERN ECONOMY

Sandy Jacobson Vice President, Richardson Executive Search Scott McEachern Vice President, Pipeline Control, Enbridge Pipelines Inc. Annemarie Petrov President and CEO, Francis Winspear Centre for Music Dennis R. Schmidt Principal, ALTURA Legal Advisory Jeffrey Sundquist Chief Executive Officer, EDC Environmental Group of Companies Inc. Dr. Jenelle Trenchuk-Saik President and CEO, Parker Ford and MacKay Specialty Opticians

Edmonton Chamber Executive

Scott Channon Director, Marketing and Communications Brent Francis Director, Advocacy and Outreach Christen Rumbles Director, Finance Amin Samji Director, Member Services Kevin Thomas Director, Operations

Contact

Edmonton Chamber of Commerce #600 – 9990 Jasper Avenue Edmonton, AB T5J 1P7 T: 780.426.4620 | F: 780.424.7946 edmontonchamber.com

For years, the Edmonton Chamber has helped forge strong connections with the North through our powerful partnerships. One of these, the Edmonton Northern Partnership, is a coalition between the Edmonton Chamber, the City of Edmonton, Edmonton International Airport, the University of Alberta and Edmonton Global. Together, we work to build and strengthen the connections between our region and northern communities with a focus on business, education, tourism and health care. Another is a strong partnership between the Yukon and Northwest Territories Chambers of Commerce with the Edmonton Chamber. Together, we’ve hosted a northern-focused conference for six decades. Opportunities North brings together delegates from business, municipal, educational and cultural communities … with the shared vision of creating and expanding economic opportunities between the North and the South. Year after year, Opportunities North proves to be an invaluable and productive forum – attracting thought leaders, innovators and risk-takers, and sparking innovative new ideas to grow our respective economies.

A NORTHERN CORRIDOR IS AN IDEA WORTH EXPLORING

When it comes to seizing the economic potential of the North, one of the boldest visions is the creation of a northern transportation utility corridor: a 7,000-kilometre corridor in Canada’s North and near-North reaching all three Canadian coasts. This right-of-way could be used for roads, railways, pipelines, electrical transmission and communication infrastructure – opening up a world of possibilities to access new markets and spur economic development in Canada’s hard-to-reach regions. Although the idea of a northern corridor reaches back to the 1960s, researchers at the University of Calgary’s School of Public Policy have brought it back to the forefront. In 2018, the Edmonton Chamber began advocating for this project, influenced by the huge potential for economic benefits. Continued on next page... BUSINESSINEDMONTON.COM // BUSINESS IN EDMONTON // APRIL 2020

Canada is a trading nation, but significant barriers are preventing us from optimizing trade opportunities within Canada and beyond our borders. Right now, most of Canada’s transportation infrastructure is land-based. We have limited access to tidewater to export goods, a lack of ports and routes in Canada’s North, and onerous regulatory processes that impede development. This becomes especially problematic for large infrastructure projects that cross provincial boundaries. These barriers are costing us dearly by limiting access to world markets and preventing us from competing on a global scale. That’s why a northern corridor is exactly the kind of trade-enabling infrastructure that’s critical to Canada’s long-term prosperity.

GOOD FOR BUSINESS AND COMMUNITIES ALIKE

A northern transportation utility corridor would be a win for both businesses and the local communities they serve. By dramatically improving transportation and the flow of goods, the proposed corridor would significantly lower the cost of living for residents and provide abundant business and employment opportunities. This dedicated right of way would give businesses and investors incredible investment certainty, as it would need to be approved only once by government. This saves investors from having to conduct multiple reviews and face endless regulatory delays, making the region an increasingly more attractive destination for private investment. Large-scale, nation-building infrastructure projects like this are crucial to Canada’s growth and development – and they call for strong leadership to see them through to completion. Making the northern

transportation utility corridor a reality would require continued research, in-depth consultations and sustained investment over years, if not decades. While there are many challenges and unanswered questions ahead, the potential benefits make a northern corridor an idea that cannot be ignored.

JOIN US AT OPPORTUNITIES NORTH

Canada’s North is a vast region full of economic potential for entrepreneurial individuals and businesses. Whether it’s building a far-reaching transportation network or helping a single business build their export capacity, inspiring ideas for seizing this potential are at the heart of the Opportunities North 2020 Conference, which will be hosted in Edmonton from June 1st to 3rd this year. You will be inspired … build meaningful connections … and explore and grow the beneficial economic relationships that your business needs in order to expand and thrive. If you’re interested in participating in Opportunities North 2020 please contact us at policy@edmontonchamber.com or visit edmontonchamber.com.

Members in this Issue Metabolomic Technologies Inc in Health Care Innovators in Edmonton on page 29 KPMG LLP and Bob Dale Gloves in Planning, Not Panicking, is the Key to a Successful Succession on page 35 NorQuest College in Mind the Gap on page 40 Cushman & Wakefield Edmonton in Commercial Retail: It’s All About Location on page 47

APRIL 2020 // BUSINESS IN EDMONTON // BUSINESSINEDMONTON.COM

Growing economic opportunities and expanding our horizons.

PANEL DISCUSSIONS • WORKSHOPS • NETWORKING OPPORTUNITIES • AND MORE

An immersive conference that brings together leaders from business, municipal, educational and cultural communities, with a shared vision to create and expand economic opportunities between Edmonton and our northern counterparts. Featuring keynotes from Dr. James Makokis, Canada’s Two-Spirit, Diversity, Indigenous Health, and First Nation Speaker and others.

Join other thought leaders, innovators, and risk-takers to make the meaningful connections that your business needs to expand and thrive. Register today at opportunitiesnorth.com

FIRMA Foreign Exchange Member Profile Kingsley Leung, Assistant Branch Manager/ Senior Broker, FIRMA Foreign Exchange www.FIRMAfx.com What’s your story? FIRMA was started by two brothers, Michael and Clive Oshry, in Edmonton. We focus on an underserved market in the world of foreign exchange and international payments. Our dedicated teams help simplify the complexities of foreign exchange for small businesses, providing them with peace of mind while they focus on continuing to grow their business. As a global company, our currency specialists safely and securely manage over $10 billion in annual payments. And over the last 20 years, FIRMA has been recognized as one of Alberta’s ‘Great Places to Work’, one of Canada’s ‘Best Managed Companies’, as well as Canada’s largest privately held money-services broker. What do you enjoy most about being a member of the Edmonton Chamber of Commerce? By being a member, we can easily connect and meet new businesses. This allows us to learn from other passionate members who are also dedicated to this city. What is one thing people are surprised to learn about your business? People may not know that while FIRMA is a global company – with locations in the United Kingdom, New Zealand, Australia and in nearly every province in Canada – our global head office continues to be located right here in Edmonton!

Who is your ideal client? Our ideal clients are any business in Canada that imports or exports. We support our clients as they navigate the world of global payments and currencies. By providing them with a Global Currency Specialist specifically assigned to their account, we can monitor the currency market with their business in mind. The opportunities for international expansion are endless, and by working with one of our specialists we can support small businesses in seizing them. What has been your biggest challenge in business, and how did you overcome it? Our quick growth over twenty years has had its challenges. However, by hiring talented people that are even more amazing and dedicated to serving our clients, we were able to manage our opportunities and continue to grow. What is your favourite thing to do in Edmonton? I love taking in all the diverse festivals and amazing events the city has to offer. Plus, it’s great to experience all the new bars and restaurants that continue to pop up in Edmonton and surrounding areas.

Stay connected. Follow us and be up-to-date with events, policies, member news and more.

@EdmontonChamber edmontonchamber.com

APRIL 2020 // BUSINESS IN EDMONTON // BUSINESSINEDMONTON.COM

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Renaissance Mergers and Acquisitions Member Profile Aly Abbas, Vice President, Alberta renma.ca What’s your story? We are a boutique, mergers and acquisitions advisory firm focused on serving small to midmarket entrepreneurial clients. With unmatched experience, expertise and educational credentials, we are focused on providing our clients with essential expertise to execute a successful sale, merger or acquisition. Our team has worked on over one billion dollars in cumulative transactions across a variety of industries. As a boutique firm, we specialize in sell-side transactions for companies ranging in value between five million dollars upwards to fifty million. What do you enjoy most about being a member of the Edmonton Chamber of Commerce? Being a member of the Edmonton Chamber allows our team to meet fellow business owners dedicated to Edmonton’s continued growth, diversification and success. Together, we can continue to support one another in attracting investors from within the region and internationally. What is one thing people are surprised to learn about your business? Divesting ownership in a company, especially one which you have spent a lifetime building, is an emotional, complicated, and challenging process that requires professional guidance in areas of finance, tax, legal and negotiations. At Renaissance Mergers & Acquisitions, we have a highly specialized team to lead a competitive process. This includes compiling a tailored pitch to over a hundred regional and international suitors to ensure maximum value is achieved for our clients. Who is your ideal client? Our ideal clients would be well established privately held companies across a variety of industries. We are passionate and dedicated to working with enterprise companies held by entrepreneurs who want to ensure their legacy continues. This all while confirming that value is maximized through the successful transition of their company.

APRIL 2020 // BUSINESS IN EDMONTON // BUSINESSINEDMONTON.COM

Aly Abbas, Vice President, Alberta, Renaissance Mergers and Acquisitions.

What has been your biggest challenge in business, and how did you overcome it? Our biggest challenge provides us our greatest satisfaction. Each company and owner are unique and therefore require a tailored strategy to ensure a successful transaction. By paying attention to small details, we can serve each of our clients throughout their business transition. What is your favourite thing to do in Edmonton? Choosing just one is difficult! I frequently attend the many festivals held throughout the summer – it’s always a must. I also like walking in the river valley or enjoying the vibe of downtown and Whyte Avenue at any time of the year! If you could make one substantial improvement to Edmonton’s business environment, what would it be? If I could choose one improvement, it would be to encourage business owners to think beyond regional boundaries for growth opportunities.

We’ve got room for you and up to 119 guests. It’s what we do.

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GOLF YOUR WAY TO THE ROCKIES WITH TOTEM GOLF by Rennay Craats

he Thorogood family knows a thing or two about building, founding Totem Building Supplies in 1970. After Jim and son Ryan sold Totem in 2004, they brought younger son Dane into the fold and set out to build something completely different. The result was the Totem Group – a combination of golf courses, accommodations, real estate development and a charitable foundation – that applies the work ethic that made Totem Building Supplies a success. The centrepiece of this endeavour is the unique experience that allows guests to golf their way to the Rockies, with great packages featuring a hotel stay and rounds at Greywolf Golf Course and Sundre Golf Club. “Sundre and Greywolf are both awardwinning, prestigious courses in different ways. One is a tucked in, well-maintained treed country course and the other is the best mountain golf experience I’ve ever played,” says Dane Thorogood, general manager of Totem Golf. WWW.TOTEMGROUP.CA || 1 59

JAW-DROPPING CLIFFHAN

reywolf was named the number one public golf course in B.C. by SCOREGolf, and this par-72 course earns the honour with some world-renowned holes. The Cliffhanger, Greywolf’s #6, was partially replicated on a smaller scale at the RBC Canadian Open. People were invited to hit into a simulator to reach the fairway and putt out on the recreated green so they could experience this iconic hole for themselves.

Greywolf’s restaurant draws its name from #6. Cliffhanger Restaurant overlooks the 18th hole, offering as much of a feast for the eyes as the palate. New executive chef Galasa Aden revamped the menu during the recent relaunch, filling it with from-scratch Canadian contemporary cuisine ranging from burgers to gnocchi to steelhead trout. And with its location at the foot of the mountain, it services Panorama’s skiers in the winter and golfers in the summer. The resort and golf course have a symbiotic relationship as each contributes to the success of this destination area. With ongoing improvements to the already amazing golf and world-class skiing and resort, Panorama continues to attract visitors year-round. “Greywolf is the jewel in the crown of Panorama and its reputation has grown immensely because of the investments put into not only the golf product but the resort as a whole. It’s something we’re very proud of,” says Panorama Mountain Resort CEO and president Steve Paccagnan. With an incredible golf weekend in the Alberta foothills and B.C. mountains – and a luxury stay in between – Totem has truly built something special with this unique golf experience. 2 || WWW.TOTEMGROUP.CA

Executive chef Galasa Aden.

JEWEL OF THE VALLEY

NGER G

reywolf is the ideal destination course for a ladies’ weekend or a guys’ trip. Ranked the number one public course in British Columbia, this picturesque course brings an exceptional experience at an attractive price. And to ensure it delivers that high-value, enjoyable experience to every golfer, Greywolf added forward tee boxes on 12 holes to allow less-seasoned golfers to modify their play. Thorogood wants guests to be comfortable and have fun so they come back again and again. “We want people to enjoy the experience and have fun, and if their shirt’s not tucked in or their slacks aren’t pressed, I don’t care. Golf has changed,” he says. What hasn’t changed is the amazing round to be had at Greywolf Golf Course. It guarantees a superb golf game every time, with the Purcell Mountains as a stunning backdrop and beautifully designed holes that accentuate the natural beauty of the area. WWW.TOTEMGROUP.CA || 3

SMALL-TOWN COURSE DELIVERS BIG

undre Golf Club, ranked number one for value in Alberta, is a fantastic par-72 course with mature trees and water features. It offers a scenic round of golf with views of the Red Deer River and the Rocky Mountains. “It is always in good condition and it’s playable for every golfer but at the same time it’s challenging. For the price, it’s an unbelievable course,” Thorogood says. By adding Mountain View Inn & Suites a stone’s throw from the course, it’s an easy getaway from Calgary and Edmonton and a perfect place to hold an event or corporate tournament. The Thorogoods make it easy to golf offering a 48-seater bus – for events with over 72 participants – that picks up from Calgary, Edmonton or points in between. Participants can also stay at Mountain View at a reasonable rate. The hotel is also a great stopping point for golfers who are warming up the clubs at Sundre Golf Club before heading to Greywolf Golf Course in Panorama, British Columbia.

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GOLF BRINGS PEOPLE TOGETHER // GOLF

GOLF BRINGS PEOPLE IT’S MORE THAN A GAME BY FAY FLETCHER

n the world of business, networking, partnerships, deal making and community service are key – and not all of those business building moves happen behind the closed conference room doors. A lot of it takes place in the open. Literally. “Golf brings people together,” says Liz Poburan of Putting Horse Ranch. She and her husband operate a golf course just outside of Edmonton that has a few key differences from the courses you may be used to. This sprawling property has an all putting course, and a Par 3, 4 and 5 course in addition to a beautiful country-themed venue for weddings, parties, and corporate events. The Poburans, who have been in the business for 10 years know that despite the popularity of golf courses as a place to network and hold charitable events, not everyone has had the opportunity to learn how to play golf. Pitting an unexperienced player against a seasoned one in a company tournament could be more anxiety producing than team building, and adventurous hors d’oeuvres and a wine list in a club room are not everyone’s cup of tea. This is why they offer an all putting course, which is akin to a larger game of outdoor mini golf, giving experienced golfers a fun and relaxed day of putting and new golfers a stress-free way to enjoy the game. Then everyone can refresh themselves with delicious foods and drinks in their licensed venue, an Instagram-worthy, elegant barn. “Our focus is on people coming together in the great outdoors. Good things happen when people can just relax and enjoy each others company,” the Poburans confirm. “This is why, in addition to golf, we can customize corporate and

Together charity events to include meetings, catering, and horseback riding, because nothing says teamwork like hitting the open trail together!” Having a helping hand planning a networking, corporate or charitable event on the golf course is an ideal way to get the most return on your investment, and that is something in which Kimberley Banford, owner, ReFresh Event Management, specializes. ReFresh Event Management has decades of experience organizing golf tournaments, including corporate and notfor-profit events. “Tournaments of all sizes are welcome. We offer golf tournament planning in Edmonton and across Alberta,” says Banford. “ReFresh Event Management has the expertise and resources needed to execute any corporate event whether it be 10 people or 2,000. ReFresh is here to “freshen” your event and take it to the next level!” “Golf tournament planning can be a complex, labour intensive process,” she continues. “Organizing such an event involves everything from soliciting the golf course to catering, organizing participants, teams, and reaching out to sponsors and collecting prize donations.” Banford shares the golf event planning process that has helped them create hundreds of successful tournaments over the years. “We are available to organize as much or as little as you need for your upcoming golf tournament. Within your

BUSINESSINEDMONTON.COM // BUSINESS IN EDMONTON // APRIL 2020

It’s All About Family T

he primary focus at the Glendale Golf & Country Club is to attract younger players at an early age and keep them hooked. This is what is going to grow the game and keep it relevant and sustainable for future generations to come. So, how do we get them hooked? In a nutshell, we have to make the game fun for them, make it relevant, fresh and connect them with the technology that is a part of everyone’s daily life. At the Glendale Golf & Country Club, we are more than just a championship course. Long known as the players’ club in the Edmonton golf community due to the toughness of the course and its large percentage of low handicap golfers who made up the membership, that stigma is being reshaped to show the full scope of the Club. It’s our familyfriendly facilities and programs that are leading the charge. Will the course continue to be manicured to exceptional standards and kept in championship condition? Absolutely, but our primary focus is on what we offer to all golfers, whatever their skill level. We recently introduced a set of family tees on all 18 holes that can be utilized by junior golfers, beginner golfers of all ages and seniors. These family tees have transformed the Club and allowed for families to enjoy the course from proper yardage, and participation has risen. Our junior and ladies’ programs as well have seen changes for the better. Last year, a new membership category was introduced and allowed for spouses to be more involved without a hefty financial outlay. The restricted spouse category allows for play on Tuesdays anytime and weekends/holidays after 1:00 pm at a reduced $1,000 rate. We saw a spike in female participation from ladies who otherwise would not have joined the Club with their significant others. Our junior program also saw a transformation after introducing the operation 36 platform. This program, under the Glendale Academy banner, has hooked the new generation of golfers in a fun, structured setting using the most effective model and technology

to learn to play golf. The golfers follow a motivating roadmap to shooting par (36) or better for nine holes. Probably the most significant draw for families continues to be the indoor and outdoor facilities that are unique compared to the other private golf clubs in the city. The outdoor pool allows families to enjoy Edmonton summers poolside complete with licensed food and beverage service. We offer swimming lessons and golf/swim camps throughout the season as well. Our well-appointed clubhouse affords the ability to host events of any size: weddings (indoor and outdoor), parties, meetings, golf tournaments, all the way down to daily restaurant offerings. Memberships are available in various forms for the 2020 golf season and beyond. For those looking at long-term investment in the Club, shareholder memberships provide an ownership stake. Are you just looking to try the Glendale for a year or two before deciding? We also have associate memberships that allow you to try the Club and see if it is a good fit. For golfers under 30 years of age, we offer intermediate memberships at competitive rates. The future is bright at the Glendale Golf & Country Club. When considering your private club options, keep us top of mind. For more information or if you have any questions, please feel free to contact General Manager Greg McGarry at gmcgarry@ theglendale.com. We would love to show you what sets the Glendale apart!

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The Derrick Golf & Winter Club opened in 1959 as one of the most unique private clubs in Canada. It is much more than a championship golf course and world class athletic facility. It is a community where families grow and lifelong friendships begin. We are excited to announce the opening of indoor tennis in February 2021. We invite you to check the club website at derrickclub. com to see all we have to offer.

3500 119 ST NW Edmonton, AB T6J 5P5 Ph: 780-437-1833 | Fax: 780-434-3100

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BUSINESSINEDMONTON.COM // BUSINESS IN EDMONTON // APRIL 2020

GOLF BRINGS PEOPLE TOGETHER // GOLF

budget, we discuss a fee that works best for you. We work with you to determine the goals and purpose of your event. We source and present options to you for the host golf course, working with you to choose the best course for your tournament and catering. “We can put together a sponsorship package on your behalf, if you choose, and solicit sponsors for your event as required. We will remove the burden of all the detailed work that goes into organizing your tournament and be your go-to representative on the day of the event to ensure it runs smoothly.” Like the Poburans, Banford believes in the power golf has to bring people together. “Spending the day in the open air can help you bond and the leisurely pace of golf will give you plenty of time to relax and get to know each other better. Golf tournaments can be a great way to show employees and clients alike just how much you appreciate them. Potential clients will welcome the chance to learn more about you and your business in a relaxed environment and employees will enjoy having a little bit of fun in a beautiful setting as a reward for a job well done.” For corporations, charities, or event planners thinking about hosting a golf tournament, she encourages, “Definitely consider it.” “There are many different reasons why a company should consider hosting a golf tournament,” she continues, “Whether its for a non-profit or corporate effort, most golf tournaments are fundraisers of some sort. Golf tournaments are a great way to raise money and bring people together; so raising money for an organization is probably the most common reason that people plan tournaments. “The fun and team-minded setting of a golf tournament is also a great atmosphere for entertaining business clients. Golf events are a very common place to take potential clients or partners, because it gives you the time to discuss important matters while having a fun and lighthearted objective. “Simply put, golfing is a great activity to do with people you would like to get to know better, and it is a relaxed and slowpaced environment to get to work on solidifying important business contacts.”

APRIL 2020 // BUSINESS IN EDMONTON // BUSINESSINEDMONTON.COM

She should know. She’s an avid golfer herself. “On a personal level, I love golf because it allows me time outside in the sunshine with my family and friends. Nothing better than that and it’s great exercise,” Banford confirms; and she enjoys the game as much as she loves helping clients plan for their time on the course. “I love each new challenge that comes across my desk. No two golf tournaments are ever the same and each one is truly unique. But if there is one aspect that stands out for me, I would have to say it would be raising funds for a charity. I love knowing that my business has helped raise awareness and funds. I have a soft spot for helping others around me.” Those attending the June 18 Chip in Fore The Kids tournament in support of the Boys & Girls Club of Strathcona County will get a firsthand look at ReFresh’s expertise in golf event management. The BGCBigs tournament will help the organization with the funds it needs to provide local underserved children and youth with the tools and mentorship they need to succeed in life. Tickets are now being sold on Eventbrite and guests will enjoy, in addition to golf, a barbeque lunch, hole-in-one competitions, prizes, and – of course – the chance to network and meet with other community-minded people in Edmonton. Banford concludes, “Planning an event is a big deal. Our team of experienced event professionals will help guide you through this process. Hiring an experienced event planner gives clients the freedom to focus on what they do best, while we focus on what we do best. Our job is to make you look good! “ReFresh Event Management Inc. has flawlessly executed events in all types of venues and has developed relationships with highly qualified professionals who inspire confidence and make planning your event an enjoyable experience. We exceed your expectations of excellence on every level, as we plan your event that’s simply unforgettable.” Whether you are looking for a unique place in the countryside to host an event or a team of experts to make your tournament a success, you can’t beat the combination of a golf course and the planning professionals that ensure your time on the course does what it does best: bring people together.

COWAN GRAPHICS INC.

CELEBRATES 75 YEARS This company has met and overcome every challenge to become the quiet but powerful force behind the nation’s most recognizable brands. By Nerissa McNaughton

Blaine MacMillan

owan Graphics Inc. is a family-owned brand builder providing concept to completion services for vehicle markings, retail graphics solutions, building wayfinding signage, tactile and braille signs, murals, window graphics, event signage, decals, tags, magnets, regulatory and construction compliance signage. You know the work of Cowan Graphics. For more than 75 years Cowan has added functionality, colour and beauty to your life. The massive Lexus ad wrapping the terminals at Edmonton and Calgary International Airports? Cowan Graphics did that. The electrical box on your street beautified by a vinyl photo? Cowan Graphics did that too. Those enticing 3D signs in Safeway that show you the floral, produce, or bakery departments? You guessed it – made from scratch by Cowan. President Blaine MacMillan says of the family business, “We launched in 1945 at the end of World War II and started out by bronzing baby shoes, hand painting silk ties and making crests. Today Cowan Graphics is a manufacturer of quality graphics solutions serving multiple markets regionally, nationally and internationally.” And yet that hardly begins to describe the incredible reach of this local company.

Let’s focus on the word local for a moment. Cowan Graphics launched in Edmonton and is fiercely proud to be Albertan despite what MacMillan calls “the challenges unique to Alberta and what is being done, or not being done, to solve them.” With its global reach and massive output capabilities, Cowan Graphics could easily relocate to where staffing, production and transportation are met with less roadblocks, but MacMillan is loyal to the cities and the provinces

COWAN GRAPHICS • 75 YEARS

that have supported the brand for over 75 years, and to the 145 working partners under the company’s employ. “We are creative,” MacMillan adds. “We are committed to asking what our customers’ needs are and then determining the best solutions for those needs. We think outside of the box. Our clients give us the use of their brand and we don’t take that opportunity lightly. Trust is a very important word in everything Cowan does. We are an extension of our customers’ brands and we need to make sure we get everything right. Jason Bamford, Vice President and Dustin MacMIllan, Vice President with Blaine MacMillan, President

Just one example of how serious Cowan Graphics is about their customers is seen in a project they completed back in 1999. Canada Post put out a tender requiring the re-decaling (removing the old decals and putting on the new) of their fleet. The work had to be done at each Canada Post site (postal stations) from the urban centres to the small rural outposts. Naturally there were strict deadlines and the mail flow could not be impacted. “We purchased five motorhomes, put trailers behind them and drove from Victoria, BC to St. Johns, Nfld. I put newspaper ads in each city telling people that wanted a few days’ work where to meet us,” MacMillan says. “Cowan Graphics completed the job in 2.5 months, which was ahead of Canada Post’s schedule. We re-branded 4,500 vehicles in total and 95 per cent of the work was completed outdoors.” This monumental success was recognized with an Award of Excellence from Canada Post, acknowledging Cowan Graphics as one of their top four suppliers nationally. “We are the ‘finish-line’ folks,” he says modestly about the above-and-beyond effort that goes into every project, large or small. In order to get the brands they work with across that finish line, Cowan Graphics operates out of a combination of plants totalling 135K square feet across Edmonton, Calgary and Saskatoon, and uses stateof-the-art digital, screen, converting and finishing equipment, some of which is the largest of its kind in Western Canada. A lot of the work is finished and packaged by hand to ensure a high level of accuracy and stringent quality control is paramount. All this and more is managed by a dedicated team of employees that are trained and cross trained on site.

COWAN GRAPHICS • 75 YEARS • 2

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But the production floor has something more than equipment. It has a true sense of community. MacMillan knows the names of the 145 staff that are working hard on their clients’ behalf. During a tour of the warehouse he greets even the newest team members by name, and everyone is happy to see him. Flags hang high representing the home countries of all of the employees, and everyone is busy but also relaxed and smiling. Everywhere you look there are hallmarks of an expertly run company that cares about its employees as much as it cares about its clients. Cowan Graphics also cares passionately about community interests and is a long-term supporter of non-profits like Sport Central, the Cure Cancer Foundation and Youth Empowerment and Support Services (YESS). For Cowan’s business acumen, customer solutions, and community work, MacMillan is both pleased and humbled to be recognized, on behalf of the team, with prestigious awards such as Business in Edmonton Leaders and an alumni acknowledgement from the Northern Alberta Institute of Technology (NAIT). “In this age of digital capabilities,” he says, “it feels like there is a ‘sign shop’ on every corner. We are different, not just in our size, scope, and equipment. We are different because of our focus, commitment, resources, dedication and creativity. I have a vision to take our industry to the next level and I’m excited for the journey. I plan to promote, mentor and even push so that the importance of branding and the process behind it gets the recognition and support it deserves.” He continues, “We are a custom manufacturer of graphics solutions. No two projects are the same. We are excited for each challenge and to create the optimal impact that you, and our team, are looking for.” In a province where manufacturers are facing significant challenges, the easy thing to do would be to pack up and go where the support is more prevalent. However, Cowan Graphics is firm in

COWAN GRAPHICS • 75 YEARS • 4

next chapter. My partners, Jason Bamford and Dustin MacMillan, are very motivated, resolved and excited to lead the company forward. I am happy to be part of that exciting journey.” Personally, he thanks the Entrepreneurs’ Organization (EO) and the Young Presidents’ Organization (YPO) as instrumental to his professional growth. MacMillan is also very thankful for the support, trust, and reassurance of his immediate family and says, “I extend that thanks to my staff at Cowan, whom I consider my extended family.”

its commitment to its Alberta roots, and its 145 working partners. From investing in equipment to taking exceptional care of its team, from creating the most recognizable graphics in North America to supporting the community, Cowan Graphics is more than a ‘sign shop.’ It is a company that has built, and will continue to build, the identities of brands locally and abroad.

You know Cowan Graphics’ work because you interact with it daily. Now you know the passion, experience and dedication behind the brand that supports the brands you know and love.

ATU R G ON

ON YOUR

“Visit us at cowan.ca or through our social media links… and let’s get your brand on!” he concludes.

4864 93 Ave NW Edmonton, AB T6B 2P8 (780) 577-5700 | cowan.ca

LATE YOU

COW

A N

“Cowan Graphics invested, at great cost, to position ourselves in our current facility three years ago so we could recognize our fullest potential,” MacMillan confirms. “I have also recently sold a small part of the business to two young and progressive entrepreneurs. Cowan Graphics has a forward-thinking plan to double the size of it’s business. I’m excited to offer my experience, mentorship, and assistance. I’m excited for the

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COWAN GRAPHICS • 75 YEARS • 5

Design 21 Sheds Light on the LED Revolution By Nerissa McNaughton

esign 21™ LED Lighting Systems has more than 21 years of experience in importing and wholesaling LED light products and lighting design for commercial and residential projects, but for Victor Keith, owner, his foray into professional lighting goes back a lot further. “I started my first lighting company in 1989,” says Mr. Keith. “It was based on the new (at the time!) technology of fiber optics. I did the Living Room of the Future for Edmonton Telephones before they became Telus. I did mock-ups for the legislature building, some work with the Allard Studio, Much Music, and for the Great Canadian Awards.” Mr. Keith was a pioneer in the field. “Back then, in the Yellow Pages, there was no heading for fiber optics, so I created the heading and was the only name on the list!” he chuckles. Determined to be the best in the business and ahead of decorative lighting trends, he started visiting China’s factories and manufacturing facilities.

This led to branching out into importing Christmas lights. “Ten sea containers are a lot of lights! I was travelling Canada and US for trade shows and to meet buyers. It was an exciting life. I have a photo of myself handing Mayor Jan Reimer packages of Christmas lights for a local donation program. We were fundraising across Alberta with AGT (now Telus) raising money for a kids’ foundation.” He continues, “In 1992, gaming was just being legalized in Canada. After being an importer of Christmas lights, next thing you know, I’m in the gaming business! I’ve supplied Las Vegas style lighting to 44 casinos in four countries including casinos in Las Vegas, Ecuador, Curacao, US and across Canada.” In 1992 Mr. Keith entered a lighting project into the Illuminating Engineering Awards, and won, showing the proof of his passion. “Everyone has a mentor or two. Mine was the late Heinz Oldach from ABS Casinos,” Mr. Keith says. “He believed in my work from the start and I respected an 18 year business relationship with him and his casino empire.” Sensing that the next big wave in lighting would be LED, Keith rebranded his company as Design 21 in 1999. “I got in early,” he admits. I was one of the first to embrace LED. While it is easy to find lights from small businesses to big box retail now, The Design 21 difference is our experience, quality and pricing. We often get emails from customers thanking us for our knowledge. They shop around but come to us because we have so much knowledge based on years of immersive learning and hands-on work.” Mr. Keith appreciates the medically supported evidence that LED lights are better for eyesight and that it is a top choice for lighting in healthcare offices. He likes that it is

Design 21 LED Lighting Systems • Celebrating 21 Years 72

Encore Tower. Photo by Mark McDonald.

Victor Keith. Photo by Rebecca Lippiatt.

also a low energy consumption method that helps individuals and businesses lower their carbon footprint. He notes, “LED has so many benefits; I decided to focus on the aspect of the decorative function of LED lighting plus low power consumption since it lends itself to much lower consumable costs of operation and maintenance.” Edmontonians can see Design 21’s recent work at Westrich’s, Encore Tower in Edmonton, several local casinos, CK Design’s recent projects, Delux Burger Bar, Guru and Japanese Village to name a few. Design 21 has also recently illuminated the face The Sutton Place Hotel Vancouver. Mr. Keith is grateful to his vendors, suppliers and clients, along with the support of engineers, architects, and designers for helping to enable the success of the company. He thanks K-Jay Electric who

R E S T A U R A N T, H O T E L A N D C A S I N O I N T E R I O R S

C O N G R AT U L A T I O N S TO D E S I G N 21 O N TWENTY-ONE YEARS OF SUCCESS! LICENSED INTERIOR DESIGN • EDMONTON, AB Design 21 LED Lighting Systems • Celebrating 21 Years

has been a longstanding customer and what he calls, “a company upholding some of Edmonton’s best installations.” “The challenge with LED,” he explains, “is the constant change. It’s still a developing technology. If you have an LED system from five years ago, it’s already getting antiquated. That is how fast the industry is changing. The Edison light bulb hardly changed in 100 years, but LED has changed many times in just 10 years, and will continue to change well into the future.” Undaunted, Design 21 keeps pace with the rapid evolution. He pulls open a drawer and displays hundreds of files filled with information and supplier contacts. “I’m communicating with suppliers in China every night,” he confirms. “I’m here during the day but talking to engineers in factories at night to ensure we are on top of the technology and trends.” Although his career in lighting has taken him across the world and allowed him to light up some of the most wonderful buildings and entertainment facilities on and off the continent, his joy and excitement in his work is knowing that a customer is happy and the job was well done. “There is one side of us that does decorative, spectacular colour changing projects in a hotel or a casino, or a home for permanent Christmas lights, then there is another side of us that does more of the common function and task

lighting, but all of our work in lighting are great jobs. Every day when I wake up it’s exciting because you don’t know what customer you may be working with,” he concludes. “Who is going to call? What is the new project? The next day is always something to look forward to.” His sense of true accomplishment is that in Edmonton, Vancouver, Ontario and in many other places, his lighting feature work is there for people to enjoy. Learn more at design21.ca.

15350-111 Ave. Edmonton, Alberta Phone: 780 421 1940 | www.design21.ca

CONGRATULATIONS DESIGN 21 ON 21 YEARS!

10752 178 St NW, Edmonton, AB • (780) 484-1721 • kjayelectric.ca Design 21 LED Lighting Systems • Celebrating 21 Years

Ashley Wolfe, president. Photo by Rebecca Lippiatt. Clothing by BLU’S.

WOLFE CADILLAC

Drives Forward

The family-owned company embraces year 100 of business with a bold, new move. By Nerissa McNaughton

ith 99 very successful years as a dealership, Edmonton Motors has rebranded to Wolfe Cadillac and is Edmonton’s first exclusive Cadillac dealership. The fourth-generation family owned and operated business has always been forward thinking and community minded. President Ashley Wolfe confirms, “We are always looking for ways to evolve and finally found the best way forward. We moved Edmonton Motors from its location in downtown Edmonton when the opportunity came up to buy Westgate

Chevrolet in July of 2018. We amalgamated our Edmonton Motors Chevrolet division into Westgate Chevrolet and built a brand new standalone Cadillac store across the street from Westgate for our Cadillac Franchise. There are very few standalone Cadillac dealerships in Canada; we are honored to bring this privilege to Edmonton.” She continues, “This move represents the evolution of the car buying experience. It is highly customer focused as opposed to sales focused, which is the opposite of the traditional car buying experience.” Wolfe Cadillac | 1 75

Photo by Rebecca Lippiatt.

That guest-focused experience is what continues to set Wolfe Cadillac apart. At the dealership, guests are greeted first by a porter that parks their car, then by a concierge that welcomes them and offers a range of beverages. Vehicles are brought to you so you can peruse them at your leisure and even test drive them overnight or for a weekend. Every action and option is transparent, and the quality of the experience doesn’t stop once the vehicle is purchased. “Your vehicle is detailed every time it is in the service bay,” Ashley confirms. “We can also pick up your vehicle and drop off a Cadillac loaner so you can seamlessly get on with your day.” Although Wolfe Cadillac only opened in April 2019, it finished first in the country for Escalade sales, and Ashley is excited to build on that momentum. Yearto-date, Wolfe Cadillac is firmly placed at number one for Cadillac retail sales in the country. In efforts to compete with luxury brands such as BMW and Mercedes, Cadillac needed to expand their vehicle portfolio and participate in segments, which in years past, they had not had representation. In recent months Cadillac has launched three new lines, the XT6, the CT4 and CT5. In additional to the new lineup of vehicles, Cadillac has also made some huge improvements on their staples. “The big one for 2020 is a new redesigned version of the Escalade. It has a 30” wide screen display, which is the first of its kind, and Super Cruise is now available as a standard option.” Ashley believes that the new 2021 Escalade is a game changer for Wolfe Cadillac. Guests can expect to see the new lineup of Cadillacs in Wolfe’s showroom this year. Wolfe Cadillac | 2

Part of the transparency of Wolfe Cadillac is admitting to industry challenges, which Ashley is very upfront about. “Standalone dealerships are still a new idea for General Motors, so this initiative is not yet fully supported by vehicle sales. Cadillac’s ultimate vision is to go head to head with other luxury brands and reclaim its place in the luxury market; we are working at it. We have seven segments and BMW has 10, for example. Our biggest challenge is putting the cart before the horse and waiting for the horse to catch up. It’s very exciting to be the first dealership of this type in Edmonton, but that does come with ongoing development.” But the Wolfe family didn’t build an enduring brand for 99 years without being progressive, evolving, and engaging the community. In fact, it is this community engagement that Wolfe Cadillac focuses on instead of sales – a true departure from the mandate of most vehicle dealerships. “It is very exciting that my brother Harrison and I are able to continue the family legacy in the Edmonton community, and that gives us the opportunity to be different and have a unique approach,” says Ashley. “We have chosen a grassroots operational model in which we align ourselves with businesses that enable us to give back. We want to be part of the community and be involved in making a difference in the city of Edmonton. When we link our brand with community partners, we are able to help many different organizations. This is the type of branding that we want to be remembered by. I find that Edmonton is a loyal community with a priority to give back.”

C O N G R AT U L AT I O N S, WOLFE CADILLAC EDMONTONâ&#x20AC;&#x2122;S FIRST DEDICATED CADILLAC DEALERSHIP Cadillac Canada congratulates Wolfe Cadillac Edmonton on their first year of business. An elevated dealership experience like no other awaits.

EXPERIENCE THE FUTURE OF LUXURY SHOPPING AT

17820 Stony Plain Rd, Edmonton, AB T5S 1A4 www.wolfecadillac.com

Wolfe Cadillac is passionate about aligning with and supporting several organizations including the Stollery Children’s Hospital, Ronald McDonald House Charities Alberta, Valour Place Military Family Support House, the Lois Hole Hospital for Women, Fort Edmonton Park and Canadian Culinary Federation Edmonton Association, among many others.

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LEADING PEOPLE

“We also run our own charitable events approximately every other week,” Ashley adds. “Giving back and being community minded is a big part of the fabric of what we do. Last year we were involved in raising more than $100,000 for charities.”

WORK. SAFE. HOME.

PROUD BUILDER OF WOLFE CADILLAC

www.delnor.ca

Everything Wolfe Cadillac does, from rebranding to community involvement, is based on what the dealership, and its predecessor Edmonton Motors, built its identity on: trust and integrity. “We have a reputation for always doing the right things for our guests and our city,” Ashley says. “My great grandfather F.J. Wolfe lived by a statement that still runs true in the Wolfe family today: ‘It’s all about the people.’” As Wolfe Cadillac moves forward on year two of the rebrand, Ashley has high praise for her team that were instrumental in the move and re-opening process, and she is very thankful for the continued support of General Motors. She also thanks the Wolfe family and the dealership’s many guests who continue to make the journey an exciting one. “It’s time to get to going, to keep building momentum,” Ashley smiles. “We would like to achieve number one Cadillac dealer in Canada, but more importantly, we want to make sure we are involved in the causes we care about in Edmonton. We want to be known as Wolfe Cadillac, not just a great automotive dealer, but the company that cares about what you care about in the Edmonton area.”

Congratulations to Wolfe Cadillac

“Wolfe Cadillac is very hands on,” she concludes. “Every department is involved in your luxury experience and there are no pushy sales processes. Each guest is greeted by a complete team that is well trained to service your needs and has excellent product knowledge. We have been given the incredible opportunity through General Motors’ vision to focus solely on the Cadillac brand and it is our mission and goal to ensure we continue to operate with honestly and integrity. There are no shortcuts.” Learn more by visiting www.wolfecadillac.com online, @wolfecadillacedmonton on Facebook, and Wolfe Cadillac on Instagram and You Tube.

On behalf of our entire sales and service team, RBC® Automotive Finance salutes Wolfe Cadillac on their grand opening and their outstanding dedication to the auto industry and community.

® / ™ Trademark(s) of Royal Bank of Canada. VPS106939

Wolfe Cadillac | 4

30075 (03/2020)

17820 Stony Plain Rd, Edmonton, AB T5S 1A4 | (780) 482-5771

www.wolfecadillac.com

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