President's Message

Greg Yuel

Greg Yuel

How do you think a Family Office in 2021 performed, where most of our value was in western Canada, in the energy sector, with three companies in the chemical distribution industry, two in transportation, one in real estate, then insurance and tourism?

As it turns out, we defied the odds. The most spectacular gain within PIC Group was at Panther, our oilfield chemical distribution & pallet manufacturing business. They had the best year in the history of their company. Meanwhile, our propane business and our insurance business grew significantly. No less impressive is that our real estate business reduced vacancy to less than 1%. Another unlikely story was that Kreos survived and maintained positive cash flow. A tough year but for an airline in 2021 – Holy Cow! Incredible.

The common denominator, as ClearTech and Caron demonstrate every year, is that our companies spent one, or two, or three or four decades building relationships with suppliers and customers so that we are in the enviable position of taking care of people on either side of us and they in-turn are endeared to take care of us. Over the years the customers, or suppliers, or employees that think that’s dumb fell by the wayside. This philosophy left us with a vertically integrated value chain of trust & care between our partners as we all found ourselves in a 100 yr tight spot. Randy Bracewell’s often explained that “we can’t go wrong long term if we take care of the customers best interest”.

Further validation of this belief is that our sales teams could not get in front of our customers and go through their operation to understand their issues, but we had the depth of our relationship to rely upon. As a result, we held our own pretty well.

At PIC Group we took care of our equity partners in invested companies in the same way. PIC Group brought deals forward to others where it made sense. We started fiscal 2021 having assisted in the delivery of Verdient to its new owner, Ingredion – the biggest food ingredient distributor in the world and now a significant contributor to the Saskatchewan value added Ag economy. Laurie had a few wins this year, but the Verdient sale was big.

The PIC office serves to connect the dots and be the anti-Red Tape committee for the companies we serve as well as assist our companies with opportunities that take years to come to fruition, so our leaders and their teams can focus on their operation. PIC Investment Group Inc is a family office. We own operating companies and place equity investments. We provide financial services, HR support, M&A search, identification & closing expertise, payroll & benefits, board governance & strategic planning for our companies.

Together, Laurie Dmytryshyn, Craig Bell, Terris Chorney, Hugh MacGowan and I want to help people who enjoy autonomy and follow entrepreneurial instincts to grow their business and themselves. In fiscal 2021 we helped put PIC Group in a position to make the most of what we believe is a growing economy going forward. We are all looking forward to the year ahead.