16:40:52 EDT Tue 14 May 2024
Enter Symbol
or Name
USA
CA



Black Diamond Group Ltd
Symbol BDI
Shares Issued 60,965,682
Close 2023-05-01 C$ 7.04
Market Cap C$ 429,198,401
Recent Sedar Documents

Globe says Black Diamond seeks stability

2023-05-01 07:17 ET - In the News

The Globe and Mail reports in its Monday edition that Black Diamond Group has had its share of ups and downs. The Globe's John Daly writes that chief executive officer and co-founder Trevor Haynes has ridden the roller coaster over the past 20 years. Founded in 2003, the company's shares soared to more than $35 by early 2014, then hit rock bottom near $1 when COVID-19 took hold, and have climbed back to more than $7. Mr. Haynes says the darkest hours were in 2017, when Black Diamond tried to set up meetings with institutional investors in Toronto and was told: "Nobody wants to see you. Not one account." Black Diamond buys modular buildings and rents them out. By 2014, about 90 per cent of its revenues came from petroleum and the oil sands. "We were very much an oil field services company," he says. The bust prompted Black Diamond to get back to a core idea: augmenting highly cyclical resource revenues with steadier ones from other sectors and regions. "Our model was to balance the two," says Mr. Haynes. Through a mix of acquisitions and organic growth, the company expanded geographically and by sector. In late 2021, Black Diamond reinstated the dividend it cut in the oil-patch bust, then suspended.

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