November 6, 2019
RAM Elevators & Lifts Inc. is excited to announce the completion of a majority investment by Western Canadian business leaders Corey Smith and Aroon Sequeira; both of whom are known for their accomplishments in corporate growth, their strategic acumen and an eye for high potential businesses.
Corey Smith has assumed the role of President & CEO, effective immediately. Aroon Sequeira will take on the role of Chairman.
Founders Richard Meunier, now Chief Product Officer and Sandy Smart, Controller, will stay on as minority shareholders.
Corey Smith felt it was the perfect time to embark on this venture; “The world is seeing a major shift towards accessibility. We’re rethinking how we will care for an aging population as we prepare for an imminent wave of seniors; the biggest cohort in history. This, in addition to the progress already underway in our communities towards becoming barrier-free, is spurring the need for investment in accessibility innovation.”
RAM sees significant opportunity on the horizon: “There’s a new sophisticated market emerging who are looking to future-proof their properties without compromising beauty, sophistication or functionality; that’s where companies like RAM come in” said Smith, “and it’s not just homes that are seeing a revolution; it’s also businesses and community spaces.”
With its roots as a reliable, affordable and safe solution, RAM’s products are now at the convergence of practical and aspirational. Thanks to RAM’s advancement in product design, flexibility and simplicity, function is no longer an aesthetic compromise, and elevators are no longer exclusive or invasive. RAM makes beautiful accessibility more accessible and aspirational than ever.
Says Meunier of the deal; “the expansion of our ownership group is very opportune. We look forward to this next chapter, bringing together our superior design and engineering capabilities and manufacturing expertise with Corey and Aroon’s business acumen, and growth & diversification experience to position RAM at the helm of the accessibility revolution.”
BACKGROUND | RAM ELEVATORS & LIFTS, INC.
RAM Elevators & Lifts, Inc., founded in 1987, is an Edmonton-based manufacturing leader with a full product line of elevators and lifts for residential and commercial use. With a local staff of 55, and an integrated network of distributors all over North America, RAM provides peace of mind to those for accessibility and working to future-proof their properties. From veterans to executives to future-thinking developers and businesses, RAM’s clientele sing the company’s praises thanks to their products’ ease of use, flexible configurations and stellar customer service.
BACKGROUND | COREY SMITH
Corey Smith is a proven relationship builder and a strategic and collaborative leader. Most recently, Corey was President & CEO at Noralta Lodge, a remote workforce accommodations provider in and around Alberta’s oil sands. With Corey at the helm, Noralta Lodge successfully navigated one of the most challenging economic periods in the company’s history, culminating in successful acquisition of Noralta Lodge by key competitor Civeo in April 2018, where Corey assumed the role of President of Canadian Lodging.
His experience is drawn from an accomplished history in Alberta’s business community. Corey was one of the founding management team members of Lacent Technologies, an advanced manufacturing business; sat as the Director of New Ventures for the Alberta Research Council; and served the Edmonton-based international company SCM Insurance Services as both President of its Investigative Services Division and Chief Marketing and Sales Officer.
Corey currently sits on the Board of Directors for Vantage Living Inc. and Gateway Mechanical Services. He is also an active Board Member of the Covenant Health Foundation and The Edmonton Oilers Community Foundation.
BACKGROUND | AROON SEQUEIRA
Aroon Sequeira, Chairman of Sequeira Partners – an M&A and Corporate Valuation advisory firm – is considered one of western Canada’s leading transaction advisors. Over the last 25 years, Aroon has advised on hundreds of transactions involving clients and counterparties in Canada, the United States, and countries around the world.
Prior to founding Sequeira Partners, Aroon was the Edmonton managing partner for EY. Aroon serves on the boards of Dencorp Online Services Inc., First Industries Corporation, the Business Council of Alberta and Glory Lutheran Church.