For the last 18 months, Sealaska management has been on a path to acquire new operational investments.
The management team has evaluated more than 500 companies, including follow-up conversations with hundreds. Through a deliberate process of due diligence, Sealaska has identified a small number of companies that fit our filters. Sealaska’s Chief Operating Officer Terry Downes is leading this effort.
“I have the privilege of sharing Sealaska’s story with investors and business leaders,” said Downes. “We want to create economic value from assets and investments through Native values. This ensures that our assets are managed sustainably and can provide benefit for current and future generations.”
SEALASKA HAS IDENTIFIED TOP PRIORITIES FOR A NEW ACQUISITION
• Current cash flow
• High net income from operations
• Regional to shareholder base — Alaska or the Pacific Northwest
• Greater potential for shareholder employment
• Alignment with our core Native values
Under Downes’ leadership, Sealaska management also examines how our assets will provide financial, social, and environmental benefits. This has attracted companies to seek out Sealaska.
“I feel confident that the acquisition process is thorough and strategic,” said Joe Nelson, Sealaska board chair. “The directors and I understand that the “future state” of Sealaska will take patience and discipline.”
Part of Sealaska’s strategic plan is to be financially stable and independent from ANCSA Section 7(i) income. Making the right decisions around an acquisition is important and will position Sealaska in the right direction.
“Sealaska management is working closely with the board during this transition period,” said Sealaska President and CEO Anthony Mallott.
“In addition to due diligence on an acquisition, we have been focusing on containing costs. We know that each of us plays a role in making Sealaska successful and we want to be part of the team that leads us to success.”