Łútsël K’é Dene First Nation’s economic development corporation has acquired a Yellowknife-based company, Unico Contractors.
Leigh-Anne Palter, the chief executive officer for the T’sa Group of Companies, said the move marks a turning point for the corporation.
“The last 10 years have been very difficult,” said Palter.
“The corporation and as a result the community, because of prior leadership, haven’t been able to realize the benefits of the growing economy in Yellowknife.”
In August, Ron Barlas – the former head of the Denesoline Corporation, which is owned by T’sa – lost his appeal after an NWT Supreme Court judge earlier ruled he had engaged in “egregious conduct” related to the misappropriation of millions of dollars.
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The Barlas scandal illuminated a world in which, according to lawyers for the First Nation, the former dev corp boss spent years syphoning off cash that should have gone to the First Nation and its companies, with next to no oversight.
The acquisition of Unico, which offers roofing, cladding and insulation services, was T’sa’s first major announcement since the Barlas case.
“The fact that we are now here – having made tremendous strides in the litigation, having assets that are rightfully owed to the corporation and the community returned back – is now allowing us to fulfill our mandate, which is to make investments that will create generational wealth for the people of Łútsël K’é Dene First Nation,” said Palter.
She said this acquisition is notable because to her understanding, this is the first time the corporation is investing in a bricks-and-mortar business.
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Past investments included joint ventures where the corporation’s involvement was more passive.
Palter said part of the corporation’s mandate is now to find opportunities for members to be trained and employed in these kinds of venture.
“This is a great example of an opportunity that the community members – whether they’re in Łútsël K’é or whether they’re in Yellowknife or elsewhere in the North – they can be part of creating the success and creating the path forward,” said Palter.
She said the corporation has a longer term goal to move into “all things housing-related.”
As the mining industry in the NWT shifts, Palter said, she’d like to help create more opportunities for skilled tradespeople to stay in the North.
Unico, which was founded in 1984, will keep some of its local employees under the T’sa deal as well as its name.
