SOMBA K'E/YELLOWKNIFE
A Nunasi Corporation security arm is being bought out by its Yellowknife-based competition.
Patrick Doyle, president of Scarlet Security Services, dropped by the Nunasi Building on Friday where Scarlet and Twilite Security Ltd. operations will be consolidated at the current SECURECheck location, after his company's acquisition of the Nunasi Corporation subsidiary is closed on March 1. - Thandiwe Vela/NNSL photo
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Nunasi Corporation subsidiary SECURECheck Ltd. is being acquired by Twilite Security Ltd. sister company Scarlet Security Services, the companies announced last week.
The transaction is expected to close on March 1.
Combined, Twilite Security, which provides security guards in Yellowknife at locations such as Centre Square Mall, Stanton Territorial Hospital, and the Yellowknife Airport, and Scarlet Security, which provides security services and support for remote mining, ice roads, pipeline and oil and gas projects, employ roughly 150 people year-round and nearly 200 during peak seasons, said president Patrick Doyle.
SECURECheck, which has been in operation since 1997, has 22 full- and part-time positions in Yellowknife, Victor Lake, Ontario at a De Beers Canada mine, and at the diamond mines in the NWT.
All SECURECheck front line security officers and guards will join Scarlet and Twilite -- currently headquartered in the Northway Building on 49 Street -- and operations for the three firms will be consolidated at the SECURECheck location inside the 48 Street Nunasi Building.
"We're quite excited about it," Doyle said. "Between Scarlet and SECURECheck, we competed on some contracts. With the acquisition of SECURECheck, we're in a really good space. It fits with our strategy. It's very complimentary to our core focus so we just need to continue what got us to this point."
Without disclosing terms of the deal, Doyle called it a "win-win" for both sides.
Nunasi Corp. chair Wilfred Wilcox agreed.
"We were quite happy with the arrangement and I think it'll be best for all parties," Wilcox said, adding the sale of SECURECheck is part of an ongoing restructuring strategy to focus Nunasi's investment portfolio, which spans a number of sectors with companies including Canadian North, NTCL, BBE, and Nuna Logistics.
The corporation had not been seeing growth in its security sector, Wilcox said, adding it will be looking at possibly unloading or amalgamating more subsidiaries over the next couple years.
"We're looking at our entire portfolio and making sure that we do a healthy analysis on all of our ventures and make decisions accordingly," Wilcox said. "We have to work on getting Nunasi into good and profitable shape for the years to come. That's the task at hand over the next year or two years."
Doyle, who last year took over Twilite Security from its Winnipeg and Regina-based owners, would not say whether the company is planning any more acquisitions.
"We're going to pay attention to what we have for a while," he said. "I certainly wouldn't tilt my hand if I had something in the works, anyway."
