Since 1952 Marin has grown by maintaining a focused investment philosophy. In the early years the Company’s primary asset was its controlling interest in Finning Tractor and Equipment, the largest Caterpillar distributor worldwide. Marin, and its principal owners the Young family of Vancouver BC, reduced its ownership position in Finning in 1986 with a secondary offering on the Toronto Stock Exchange.
Since 1986 Marin has pursued a strategy of quietly investing in private equity, real estate and publicy traded equities. In some cases Marin has had to become involved in the day-to-day operations of key investments. This was the case with Whistler Mountain Ski Corporation, a private company holding of Marin’s from 1988 through to the eventual exchange of shares with publicly traded Intrawest in 1997. In most private equity holdings however Marin prefers to have effective management in place to run the day-to-day operations. This allows Marin to focus on the key business initiatives and growth strategies for each of its investment holdings.
Over the years Marin’s private equity investments have been in a variety of different areas. The key criteria have always been to invest in opportunities that have discernable, sustainable competitive advantages that are operated by a quality management team. This has led us into a number of different and interesting areas of business but we have always attempted to invest with a core management group that we felt had a firm understanding of their business space. By extension this has generally precluded us from investing directly into early stage or start up opportunities.
This investing criteria also applies to our investing in real estate opportunities and the public markets. We pride ourselves with the various partnerships that we have forged over the years with successful real estate and money management professionals. By combining our financial commitment and generalized business perspective with the skills of our operating partners we have been able to repeatedly yield an overall financial and operating success that far exceeds what either party could have achieved ontheir own.
Today, as in 1952, Marin is still owned and controlled by the Young family. The fact that the Company has successfully undergone inter-generational wealth transfers and is still a strong and viable entity is a testament to the strength and commitment of the family to build an enduring business enterprise for the benefit of the family, its employees and all of its investment partners.
Some of our current and previous investments are listed below.
— FUND MANAGERS —
— REAL ESTATE PARTNERS —
— PRIVATE EQUITY —
Although Marin manages a balanced portfolio of assets in the private, public and real estate markets the major point of emphasis in Marin’s investing activity has been buying, building and growing private operating businesses. The criteria for this primary area of interest are companies or groups seeking an initial equity investment ranging from $2 million to $10 million. Marin prefers to invest in successful, established enterprises that are in need of equity in order to elevate their business to the next level. These companies will preferably be headquartered in North America.
As a family owned private enterprise that is professionally managed Marin has the flexibility and the resources to make timely investment decisions. All are proud members of a management team noted for its reputation of espousing and adhering to the highest levels of corporate integrity. Marin often takes minority positions with investments in order to provide the operating company’s management with the necessary incentive to recognize and reward excellence. Marin generates value added benefits for all investments by way of sharing knowledge derived from past investment success and Marin’s broad range of operating experience. Having additional financial resources to support its investments is an additional benefit provided by Marin.
Marin has pursued a strategy of outsourcing the use of talent long before the term became commonplace in the business world. The intent has always been to maintain a “thin shop” at the holding company level and dedicate the resources to the operations being invested in.
The key personnel at Marin’s head office in Vancouver are:
Charles began with Marin in 1982. In his early years, he worked on the Company’s real estate investments before moving to Washington State in order to assist management with an invested company that manufactured components for the aeronautical industry. Later, projects included the secondary offering of Finning Tractor as well as the acquisition of Whistler Mountain Ski Corporation. As President of Whistler Mountain, Charles led the financial turnaround of the Company and the subsequent merger with Intrawest in 1997.
In addition to his role on the Board of a number of private companies, Charles was also a director of Intrawest and Creo Products, both public Company investments of Marin. Charles has also sat on a number of non-profit Boards. He continued his academic education by completing the Stanford Executive Management Course and the three-year, Harvard Business School, Executive Management Program. Charles is married and has four grown children.
Victor obtained his Bachelor of Commerce degree from the University of British Columbia in 1982. After articling with the firm of Ernst & Whinney (now KPMG) and obtaining his CA, CPA designation he stayed on with the firm to the senior manager level. In 1988 he left public practice and joined Marin Investments. Since that time, Victor has overseen all of the companies accounting, tax, valuation, estate planning and business acquisition/divestiture activities for Marin and its invested entities. He is involved at the Board level with a number of the private companies that Marin has invested in. He has also held Board responsibilities for various non-profit sports related organizations in addition to having been a volunteer coach and organizer for basketball and baseball teams in the community. Victor is married to his wife Leslie. They have two adult sons.
Liam attended Queens University for 3 and a half years majoring in Computer Science. Prior to working at Marin, Liam worked at MMCap, one of the top Risk-Arb and Event-Driven Hedge Fund’s in Canada, as a Junior Analyst and IT person. Liam is a CFA Charterholder. He began working at Marin at the beginning of 2013. He is currently an Investment Manager.
Suite 3010 –700 West Georgia St.
Canada V7Y 1B6
Charles YoungPresident & CEO
Victor GrundyChief Financial Officer
Liam YoungInvestment Manager
Kate SizykhOffice Manager