Alexis Nakota Sioux Nation acquires 100 per cent ownership of Backwoods Energy Services
EDMONTON, Alberta, June 15, 2021 (GLOBE NEWSWIRE) — Alexis Nakota Sioux Nation (ANSN) today announced it has acquired Steel River Group’s interest in Backwoods Energy Services (Backwoods). With this transaction, Backwoods is now fully owned by ANSN and the largest Indigenous community-owned company in northwest Alberta.
“This is a great day for Alexis, and I am beyond proud to see our Nation achieve this significant milestone that will improve the socio-economic gaps for our Nation,” said Chief Tony Alexis of Alexis Nakota Sioux Nation. “I want to thank Paul Poscente, CEO of Backwoods and the management team for their commitment and expertise to make this happen. I see this as an opportunity to further the financial prosperity of our people and to continue providing quality energy services that reflect our Nation’s values, goals and interests. Our mission has always been to drive economic opportunity by empowering First Nations peoples and communities.”
It was always the intent of ANSN to one day retain full ownership of the company. Through powerful, value-based and mission-aligned partnerships, alongside the efforts of a committed and talented management team, Backwoods has grown company revenue by over 900 per cent, EBITDA by 355 per cent, and employment of ANSN members by over 374 per cent.
“This achievement is a historic milestone for the Alexis community and an important step toward their goal of economic self-determination,” said Paul Poscente, President & CEO of Backwoods Energy Services. “I want to thank the dedicated and talented team at Backwoods for making the company the success that it has become. I would also like to thank Trent Fequet and Nick Pentelichuk from Steel River for their guidance on the Board and their partnership with Alexis.”
“The Alexis Nakota Sioux Nation was the first Indigenous partner to become part of the Steel River Ecosystem,” said Trent Fequet, CEO of Steel River Group. “This transaction marks the culmination of that initial partnership. We look forward to continuing to work with the Nation on other opportunities as Backwoods continues to grow.”
Now holding full ownership of Backwoods, ANSN is poised to continue down the path of sustainable growth, ensuring a prosperous future for ANSN and its people.
About Alexis Nakota Sioux First Nation
Located west of Edmonton, the Alexis Nakota Sioux Nation (ANSN) is situated on Treaty 6 territory and is the furthest northwest representation of the Siouan language. The ANSN comprises four reserves, Alexis (No. 133), Whitecourt (No. 232), Elk River (No. 233) and Cardinal (No. 234). Its community members celebrate rich oral traditions and practice traditional activities alongside a contemporary lifestyle.
For more information about the nation, visit ansn.ca.
About Backwoods Energy Services
Backwoods Energy Services (Backwoods) is one of the largest Indigenous-owned businesses in Canada and a leading service provider for utilities, forestry and oil and gas and renewables companies in Canada. Based out of Edmonton, and winner of the prestigious 2019 Waterstone Most Admired Corporate Culture Award in Canada, Backwoods has been in operation for more than 30 years and was acquired by the Alexis Nakota Sioux Nation in 2015. Backwoods works with industry to create meaningful partnerships and deliver exceptional results to its clients while creating economic opportunity for the Alexis Nakota Sioux Nation.
For more information, please visit backwoodsenergy.ca
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