DynaVenture

Last updated
DynaVenture Corp.
Portfolio Company
PredecessorDynaVest Corp.
Founded1949
FounderHarold N. Eidem
Headquarters,
Area served
North America, South America Caribbean
Key people
Brian Eidem CEO, Earl Eidem Vice President
Number of employees
175
Websitewww.dynaventure.com

DynaVenture Corp. was formed in 2000 by second generation family members Brian and Earl Eidem and Jo-Ann Thompson. [1] Founding father Harold Eidem started the 60 year dynasty in 1948 in his Vancouver home with his first business Bearing and Transmission Supply (B&T). [2] In 1973 Harold Eidem set up B&T Holdings Ltd to provide centralized services and act as the parent company to all of their business’ locations. [3] In 1976, Harold Eidem died and the ownership of the company was transferred to his sons Brian and Earl Eidem and daughter Jo-Ann Thompson. In 1981, B&T Holdings changed its name to DynaVest Corp. to better indicate the new direction of the companies. In 2000, the Eidem family sold three major components of their holdings to Applied Industrial Technologies. [4] That same year the company would again change names, DynaVest became DynaVenture and the Eidem family have since increased their holdings in technology and engineering companies. [1]

Applied Industrial Technologies, Inc.(AIT) is a public, global company based in the U.S. and focused on the distribution of bearings, power transmission products, engineered fluid power components and systems, specialty flow control solutions, and other industrial supplies. AIT provides engineering, design and system integration for industrial and fluid power applications, as well as customized mechanical, fabricated rubber, fluid power, and flow control shop services. Applied also offers storeroom services and inventory management solutions that provide added value to its customers.

Contents

History

At the end of World War II in February 1948, Harold Eidem left a job at a bearing company to start Bearing and Transmission Supply out of his home in Vancouver British Columbia. [2] One of Harold's first inventory purchases, from the U.S. Navy, was impounded at the Canadian/US border due to an $1800 Canadian customs bill. [3] Having spent all of his savings on the inventory, Harold turned to his long-time friend Norman Hnatuk living in Saskatoon, Saskatchewan to pay the duty. Norman got the inventory out of the bond and became a partner in the Bearing and Transmission enterprise. [3]

World War II 1939–1945, between Axis and Allies

World War II, also known as the Second World War, was a global war that lasted from 1939 to 1945. The vast majority of the world's countries—including all the great powers—eventually formed two opposing military alliances: the Allies and the Axis. A state of total war emerged, directly involving more than 100 million people from more than 30 countries. The major participants threw their entire economic, industrial, and scientific capabilities behind the war effort, blurring the distinction between civilian and military resources. World War II was the deadliest conflict in human history, marked by 70 to 85 million fatalities, most of whom were civilians in the Soviet Union and China. It included massacres, the genocide of the Holocaust, strategic bombing, premeditated death from starvation and disease, and the only use of nuclear weapons in war.

Vancouver City in British Columbia, Canada

Vancouver is a coastal seaport city in western Canada, located in the Lower Mainland region of British Columbia. As the most populous city in the province, the 2016 census recorded 631,486 people in the city, up from 603,502 in 2011. The Greater Vancouver area had a population of 2,463,431 in 2016, making it the third-largest metropolitan area in Canada. Vancouver has the highest population density in Canada, with over 5,400 people per square kilometre, which makes it the fifth-most densely populated city with over 250,000 residents in North America, behind New York City, Guadalajara, San Francisco, and Mexico City according to the 2011 census. Vancouver is one of the most ethnically and linguistically diverse cities in Canada according to that census; 52% of its residents have a first language other than English. 48.9% have neither English nor French as their first language. Roughly 30% of the city's inhabitants are of Chinese heritage.

British Columbia Province of Canada

British Columbia is the westernmost province of Canada, located between the Pacific Ocean and the Rocky Mountains. With an estimated population of 5.034 million as of 2019, it is Canada's third-most populous province.

In November 1948 Norman Hnatuk officially joined Harold in Vancouver and one year later opened a second location in Saskatoon Saskatchewan. [3] In 1950 the B&T Vancouver location was sold to Norman's brother Bill Hnatuk. Harold then joined Norm in Saskatoon where the two grew the company within Saskatchewan. The company has since expanded to have locations throughout North America. [3]

Saskatoon City in Saskatchewan, Canada

Saskatoon is the largest city in the Canadian province of Saskatchewan. It straddles a bend in the South Saskatchewan River in the central region of the province. It is located along the Trans-Canada Yellowhead Highway, and has served as the cultural and economic hub of central Saskatchewan since its founding in 1882 as a Temperance colony.

Saskatchewan Province of Canada

Saskatchewan is a prairie and boreal province in western Canada, the only province without a natural border. It has an area of 651,900 square kilometres (251,700 sq mi), nearly 10 percent of which is fresh water, composed mostly of rivers, reservoirs, and the province's 100,000 lakes.

North America Continent entirely within the Northern Hemisphere and almost all within the Western Hemisphere

North America is a continent entirely within the Northern Hemisphere and almost all within the Western Hemisphere. It is also considered by some to be a northern subcontinent of the Americas. It is bordered to the north by the Arctic Ocean, to the east by the Atlantic Ocean, to the west and south by the Pacific Ocean, and to the southeast by South America and the Caribbean Sea.

Growth and acquisitions

1950s

Regina, Saskatchewan Provincial capital city in Saskatchewan, Canada

Regina is the capital city of the Canadian province of Saskatchewan. The city is the second-largest in the province, after Saskatoon, and a cultural and commercial centre for southern Saskatchewan. It is governed by Regina City Council. The city is surrounded by the Rural Municipality of Sherwood No. 159.

1960s

Prince Albert, Saskatchewan City in Saskatchewan, Canada

Prince Albert is the third-largest city in Saskatchewan, Canada, after Saskatoon and Regina. It is situated near the centre of the province on the banks of the North Saskatchewan River. The city is known as the "Gateway to the North" because it is the last major centre along the route to the resources of northern Saskatchewan. Prince Albert National Park is located 51 km (32 mi) north of the city and contains a huge wealth of lakes, forest, and wildlife. The city itself is located in a transition zone between the aspen parkland and boreal forest biomes. Prince Albert is bordered by the Rural Municipality of Prince Albert No. 461 and the Rural Municipality of Buckland No. 491.

Esterhazy, Saskatchewan Town in Saskatchewan, Canada

Esterhazy is a town in the southeastern portion of the province of Saskatchewan, Canada, located 83 km southeast of Yorkton along Highways 22 and 80. The town is located within the rural municipality of Fertile Belt No. 183.

Yorkton City in Saskatchewan, Canada

Yorkton is a city located in south-eastern Saskatchewan, Canada. It is about 450 kilometres north-west of Winnipeg and 300 kilometres south-east of Saskatoon and is the sixth largest in the province.

1970s

Estevan City in Saskatchewan, Canada

Estevan is the eighth-largest city in Saskatchewan, Canada. It is approximately 16 km (9.9 mi) north of the Canada–United States border. The Souris River runs by the city. This city is surrounded by the Rural Municipality of Estevan No. 5.

SaskPower is the principal electric utility in Saskatchewan, Canada. Established in 1929 by the provincial government, it serves more than 522,000 customers and manages over $10 billion in assets. SaskPower is a major employer in the province with over 3,150 permanent full-time staff located in approximately 70 communities.

Prince George, British Columbia City in British Columbia, Canada

Prince George, with a population of 78,675, is the largest city in northern British Columbia, Canada, and is the "Northern Capital" of BC. It is situated at the confluence of the Fraser and Nechako Rivers, and at the crossroads of Highway 16 and Highway 97.

1980s

1990s

2000s

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References

  1. 1 2 3 Saskatchewan Gazette (September 15, 2000). The Saskatchewan Gazette. Vol 96, 22. Retrieved November 26, 2010
  2. 1 2 3 4 5 6 7 8 Roebuck, B. (December, 1992). Bearing & Transmission Ltd. Gets Nod for PT Distributor of Year Award. Machinery and Equipment MRO, 9.
  3. 1 2 3 4 5 6 7 8 9 10 McConnell, G.A. (1983). Saskatoon Hub City of the West. Canada: Windsor Publications Ltd.
  4. 1 2 Company News; Applied Industrial Technologies Enters Canadian Deal. (January 8, 2000). The New York Times. Retrieved November 26, 2010
  5. 1 2 3 4 5 6 7 8 9 10 11 12 "Bearing and Transmission. (n.d). Retrieved November 25, 2010, from Bearing and Transmission website". Archived from the original on November 14, 2009. Retrieved November 26, 2010.
  6. 1 2 3 4 5 6 7 8 9 10 "History - HyPOWER Systems". www.hypower.com. Retrieved November 27, 2010.