Strongco Corporation president and CEO Robert Dryburgh has stepped down from those positions, the Ontario-based equipment dealer said in a Jan. 22 news release.
“I would like to thank Mr. Dryburgh for his leadership over the last seven plus years and we wish him all the best,” the release quoted Robert Beutel, chairman of Strongco’s board of directors.
Beutel, who has chaired the company since 2001, will serve as interim executive chairman while Dryburgh will be available “to support a seamless transition,” the release said.
News of Dryburgh’s departure came five days before Huddersfield Investments Ltd. announced it has acquired “beneficial ownership” of 1,050,010 common shares of Strongco pursuant to a private agreement. The shares, at $1.75 each, represent about 7.94 per cent of Strongco’s issued and outstanding shares, the release said.
Huddersfield together with “joint actors” Saul, Henry, Mira, and Julia Koschitzky have ownership and control of 3,672,204 shares of common stock in Strongco, about 27.77 per cent of the total.
Strongco, which trades on the TSX, has 27 branches in Canada and five in the U.S. The company represents such brands as Manitowoc, Terex, Fassi, Sennebogen, and Konecranes.
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