DynaVenture Corp. was formed in 2000 by second generation family members Brian and Earl Eidem and Jo-Ann Thompson. 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). 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. 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. Company News; Applied Industrial Technologies Enters Canadian Deal. (January 8, 2000). The New York Times. Retrieved November 26, 2010 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.Saskatchewan Gazette (September 15, 2000). The Saskatchewan Gazette. Vol 96, 22. Retrieved November 26, 2010
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. 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.McConnell, G.A. (1983). Saskatoon Hub City of the West. Canada: Windsor Publications Ltd. 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.
In November 1948 Norman Hnatuk officially joined Harold in Vancouver and one year later opened a second location in Saskatoon Saskatchewan. 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.
Growth and acquisitions 1950s B&T created formal distributorships with Hoover Ball and Bearing Co., Orange Roller Bearing Co., Morris Chain, Garlock, and SKF.Roebuck, B. (December, 1992). Bearing & Transmission Ltd. Gets Nod for PT Distributor of Year Award. Machinery and Equipment MRO, 9. 1956-B&T Ltd was incorporated 1957-Sales reached $356,000 doubling from 1956 1957-B&T Ltd.Regina was formed
1960s 1961-Convey IT a materials handling division is formed 1964-B&T was divided into two main divisions: Saskatoon and North Saskatchewan operated under Norm Hnatuk and Regina and South Saskatchewan operated under Harold Eidem 1965-B&T Prince Albert and Esterhazy were formed 1967-B&T Regina acquired Precision Bearings Company of Yorkton Saskatchewan
1970s 1970-B&T opened Estevan location to accommodate SaskPower coal fire electric power generating stations 1972-Curtis Hoover, a hydraulic (Vickers) distributor/service business in Saskatchewan was acquired, and consequently the company established a new operating unit with locations in Regina and Saskatoon named B&T Fluid Power Ltd. 1972-B&T Fluid Power Ltd. Prince George, British Columbia opened 1973-Harold Eidem purchased Norm Hnatuk interests in companies 1973-Harold Eidem formed B&T Holdings Ltd as parent company of Bearing & Transmission and B&T Fluid Power 1974-B&T Holdings purchased Hard Chrome Services in Regina 1976-B&T Holdings purchased Superior Hard Chrome Inc.in Saskatoon 1976-Bearing & Transmission Lloydminster Alberta opened 1976-Superior Hard Chrome opened a Regina location 1976-Harold Eidem died 1976-Brian and Earl Eidem and Jo-Ann Thompson the second generation take over reigns of company 1977-B&T Fluid Power opens a branch in Prince Albert 1979-B&T Fluid Power purchase Progressive Air & Hydraulics in Vancouver 1979-B&T Fluid Power open a Winnipeg location 1978-B&T opens Prince Albert, Saskatchewan location
1980s 1980-B&T Fluid Power form a partnership with H&M Fluid Power and open the first Alberta branch in Edmonton 1981-B&T Holdings changes name to DynaVest Corporation 1981-Convey IT locations open in Saskatoon and Regina, Saskatchewan 1982-B&T Fluid Power and all its past acquisitions changed their name to HyPOWER Systems. 1986-B&T Drayton Valley and Fort McMurray Alberta opens 1987-B&T Winnipeg Manitoba opens 1987-Convey-It WinnipegManitoba opened 1988-B&T Calgary, Lethbridge, Medicine Hat, and Peace River Alberta locations open
1990s 1990-B&T Rubber is formed in Regina 1992-All Agro Winnipeg opens 1991-HyPOWER Systems open a second Alberta branch in Calgary 1992-The Hydraulic division of Calgary Hose & Hydraulic was purchased and merged into the HyPOWER Calgary branch 1992-Fluid Clarification Inc formed with locations in Calgary, Edmonton and Vancouver 1994-Brian, Earl and Jo-Ann purchase Adanac Equipment in Delta British Columbia 1994-HyPOWER opens a location in Campbell River to supply fluid power products to the forest and marine industry on Vancouver Island 1995-B&T Grande Prairie opens 1996-All Agro Edmonton opens 1997-B&T Prince George and Kelowna, British Columbia open 1997-Campbell River, British Columbia opens the first B&T and HyPOWER combination branch 1998-B&T purchased the Sproule Bearings company with branches in Calgary, Lethbridge and Medicine Hat 1998-B&T branches open in Peace River, Alberta and Kamloops, British Columbia 1998-HyPOWER opens a Grande Prairie facility 1999-All Agro opens Saskatoon, Saskatchewan branch
2000s 2000-DynaVest sells Bearing & Transmission (B&T), All Agro and HyPOWER to Applied Industrial Technologies 2000-DynaVest changes name to DynaVenture Corp. to refine its purpose 2000-DynaVest purchased Belt Tech in Saskatoon and changed its name to B&T Rubber 2002-Superior Hard Chrome changes name to DynaIndustrial Inc.
References
External links DynaVenture Corp.'s Official Site