Nautel Gets New Owners, But It's Biz as Usual

November 9, 2011

Hackett's Cove, NS - Nov 9, 2011 - Nautel has new owners, but according to Peter Conley, Nautel CEO, the new owners will have no impact on how the company does business, and things will run as they always have.

The three founders - Dennis Covill, David Grace and John Pinks - have sold all shares in the company they started. Nautel was founded in 1969. The new owners hold 100 percent of Nautel's shares. They are from the Halifax business community. George Waye is an accountant; Bob Healy owns a financial planning firm; and Kevin Rodgers, Nautel director of customer service and IT, who owned a number of shares under the previous ownership arrangement, has been with the company for more than 20 years.

Peter Conlon says the transaction is all at the ownership level and has been in process for about a year. He also noted that Nautel has been having great business for the past several years. He attributes some of this to the company's investment in developing new products in 2008, which at the time was something if a gamble, but for Nautel it has paid off.

To sum it up, Conlon said, "This means another decade of stability for Nautel."

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