GREY:WONEF - Post by User
Post by
Tobuyornoton Jun 09, 2014 1:07pm
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Post# 22642518
Ccord follow up
Ccord follow upWesternOne* (WEQ : TSX : $8.11)
Net Change: 0.01, % Change: 0.12%, Volume: 170,290
KEYWORDS: NEWLY MINTED. We continue to be on the lookout for insider filings on WesternOne especially by newly minted CEO Peter Blake. Recall at the end of May, WEQ announced the appointment of Blake as CEO. Blake is an accomplished executive having spent the last 23 years at Ritchie Bros. Auctioneers (RBA), the last 10 as CEO. He brings to WEQ a proven ability to manage a high growth business, strong M&A acumen, and an impressive rolodex of industry contacts. Most importantly, we see an excellent cultural fit. Both WEQ and RBA have strong entrepreneurial corporate cultures where employees are acutely focused on customer service. Canaccord Genuity Infrastructure Analyst Yuri Lynk envisions Blake in the CEO role for the next five-to-10 years. Operationally, WEQ's two segments (WIS and Britco) are led by very strong management teams. Thus, we see Blake's role as more "big picture" focusing primarily on capital allocation while offering his significant operational insights as need be.
WEQ operates equipment rental businesses in Alberta and B.C. and is an active consolidator of rental businesses in Western Canada. At yesterday's close, shares of WEQ were yielding ~7.3%.