MBO Investment in Long-standing Excavating Company: Maxie’s Excavating LP

  • November 6, 2019

Westcap Mgt. Ltd. (“Westcap”) is pleased to announce it has closed the second investment transaction for the Westcap MBO II Investment LP (the “MBO II Fund”), the management buyout of Maxie’s Excavating LP (“Maxie’s” or the “Company”). The MBO II Fund, in syndication with Golden Opportunities Fund Inc., Saskatchewan’s longest-standing provincial Retail Venture Capital (RVC) Fund also managed by Westcap, funded the transaction investing a total of $17.84 million in aggregate.

Maxie’s is a long-standing brand in Saskatchewan that has built a strong reputation for high-quality work and has grown to be one of the largest excavating companies in the Province. It was founded in 1972 as a privately-owned Company by Julian “Max” Dziadyk and his wife, Ann Dziadyk, and remains headquartered in Saskatoon, Saskatchewan. Maxie’s has and will continue to benefit from a seasoned and well-balanced management team having a material ownership interest comprised of Vince Dziadyk, President and Chief Executive Officer, along with Rob Harasymchuk, Director of Operations and Janice Harasymchuk, Chief Administrative Officer.

As an infrastructure earthworks Company, Maxie’s’ broad services include commercial, industrial and heavy civil earthwork construction, demolition and land development, aggregate processing and supply, rail services, emergency responses to environmental spills and snow removal.

Maxie’s’ fleet of iron includes over 350 pieces of equipment that it owns ranging from fleet vehicles to excavators, compactors, loaders and rock trucks. With a team of over 60 long-standing employees, the Company’s success has been built on strong customer relationships and extensive experience which enables it to react quickly to the needs of many of the top general contractors, builders and industrial companies in Canada. Maxie’s operates across multiple industries, including agriculture, potash, infrastructure, railways, cannabis, asphalt and oil and gas.

“Our Company’s success is driven by the solid relationships and strong reputation that our team has built with our customers across Saskatchewan,” said Vince Dziadyk. “It is important that our legacy, which we have built for almost 50 years, continues to stay and grow locally. Westcap has a long history as a trusted partner working alongside companies right here in Saskatchewan which was very important to us – working together with Westcap was a strong fit.”

“The proven track record of Maxie’s as a successful Company with a solid reputation for
high-quality work led by an experienced management team presented an attractive investment opportunity,” said Grant Kook, President and CEO of Westcap. “The broad services the Company offers across various industries positions it well for operating results in all cycles of our Saskatchewan economy.”