Connie Mazzei, General Manager
West Coast Merchandising
West Coast Merchandising is a bulk merchandising company specializing in coin-operated vending with over 5000 accounts throughout British Columbia. The company has recently expanded through the acquisition of significant vending assets and accounts throughout the Maritime Provinces.
Customer accounts range from shopping centers, municipalities, theaters, tourist attractions and much more. West Coast’s products include confection vending, toy vending, kiddie rides, massage chairs, video games, and snack.
West Coast has a proven track record of positive cash flow across a large number of long term accounts.
Remi Ouellet , Co-Owner & General Manager
Flema Products is an international manufacturer/distributor of tools and related products in the commercial tire Industry. Flema’s products and services include custom heavy tonnage jacks, cylinders, pumps, wheel rings, bead breakers, wheel trolleys, rentals on mining jacks, repair service and testing. Flema Products operates out of Lake Country, BC.
Flema Products has been in business for over 30 years and has experienced steady cash flow.
Sports Management International
Sports Management International is an international sports travel and sports management company specializing in all aspects of team travel, tournaments, accommodations, world-wide tours and events. With over 20 years in business, SMI is an industry leader utilizing its proprietary world class bookings technology to set itself apart from its competitors.
SMI represents a very strong cash flow asset in the Argent Portfolio. SMI has realized more than 10% growth over each of the past 5 years and continues to gain market share in Canada and the United States. The business is very resilient to economic downturns and has a very diverse customer base across North America.
Mike Boback, Co-Owner & General Manager
Play it Again Sports Kelowna
Play It Again Sports is a franchise business, operating in the niche market of used sporting equipment. Play It Again Sports has set a new standard with respect to how families buy and sell new and used sporting goods in the Okanagan. By focusing on quality, gently used sports equipment complemented with brand-name new gear, Play It Again Sports offers something for all levels of affordability.
Between the new technology and the improved inventory capability of having a second location, PIAS Kelowna expects to improve its already strong margins. With very little competition in the Kelowna market, PlAS Kelowna has enjoyed year over year growth and strong cash flows.
Leaseline Financial Services
Leaseline is a financing brokerage operating out of its head office in Kelowna. With over 22 years in business, Leaseline is a trusted name in the in the Canadian Leasing industry. Leaseline is committed to getting businesses the financing they need, regardless of the equipment type, size or location.
Leaseline’s wide customer base ranges from large established companies in the oil and gas and transportation industries, to new businesses in the restaurant and retail industries.
Metro Capital is a finance company providing collateral backed loans and leases to businesses across Canada.
With over 300 active leases and loans in its portfolio, Metro Capital’s portfolio represents a diverse group of high-quality high yield financial assets. Metro has enjoyed year over year growth of more than 30% over the past three years.
Speedy Search is a search and registry company providing timely access to all major government registries across Canada. Speedy Search is operated out of the same building as Argent’s head office at 1593 Ellis in Kelowna, however 90% of Speedy Search’s business is generated online through its website www.speedysearch.ca.
Having joined the Argent portfolio in April 2019, Speedy Search has maintained strong revenues and profits. Management has transitioned seamlessly, and Argent expects it to remain a consistent and reliable source of income.
FLORA Recreational Cannabis
Recognizing a unique opportunity for Argent to secure quality commercial locations in the Central Okanagan and negotiate the rigorous municipal and provincial regulatory process, Argent’s management aggressively worked to secure licensing to participate in the growing recreational cannabis industry. Argent was successful in securing 13 locations across BC, six of which were sold and the remaining seven are currently held in the Argent portfolio. Five of the seven locations in the Argent portfolio are wholly owned and the remaining two are owned in partnership with close business partners.
The FLORA locations are all in operation and are beginning to provide stable long-term cash flow to the Argent portfolio.
Akitig Mushrooms Inc.
Argent has recently acquired a 25% ownership position in an exciting new local business, Akitig Mushrooms. Akitig is a high quality producer of fresh organic shiitake mushrooms, with proprietary technology that enables their production to cost only a fraction of traditional grow methods. Akitig has identified a market shift indicating a growing trend in plant based foods, and looks to capitalize on the upcoming “shroom boom”. With the current shiitake wholesale market largely undersupplied, Akitig aims to fill that void and disrupt the North American market.
Akitig utilizes robotic technology and a cloud based AI production system which enables mass production for growth on forest cut logs – a natural and sustainable method which leads to longer shelf life and superior taste. Akitig is being run by a team based out of Armstrong who have extensive experience in advanced robotics and fungiculture. This rare combination of skills has Akitig poised to quickly become a dominant leader in the industry, with the ultimate goal of becoming the world’s largest producer of organic shiitake mushrooms and putting this highly nutritious, desirable and sustainable food source on more tables around the world.
A very recent addition to the Argent Portfolio, KrazyTown is a wholesale company that supplies product to vending companies across Canada. KrazyTown carries candy, toys, bulk vending equipment and parts, cranes, kiddie rides and massage chairs.
KrazyTown is one of the largest distributors of capsuled toys in Canada. Sourcing of new and unique, high quality vending products at fair market prices has established KrazyTown as a dominant supplier and will serve as a benefit to our already existing vending company, West Coast Merchandising.
Play It Again Sports – Surrey
The latest addition to our growing Play It Again Sports franchise locations. The new Surrey location will serve to provide growth opportunities for both itself and our existing Kelowna location, as inventory can be better managed between two locations.
Play It Again Sports Surrey has already seen a sales increase of 33% and a customer increase of 17% in just two months under Argent’s management. Argent expects that the expertise and guidance provided by our Kelowna location will continue to help our Surrey location tap into its full potential in the coming spring and summer months.
Mission Villas is a supportive living community for seniors located in the heart of Kelowna’s esteemed Mission neighborhood. The elegant private entry homes of Mission Villas offer a fresh approach to supportive living. From its large private patios and full kitchens to its vegetable gardens and meandering pathways, Mission Villas refuses to conform to the traditional senior’s home living, while still providing professional, friendly support.
Mission Villas was constructed in 2005 and has been under the management of Argent’s subsidiary company, Pasadena Estates, since its creation. In addition to its ownership of the management company at Mission Villas, Argent’s subsidiary company, Mission Villas Holdings, owns 24 residential rental properties in the Mission Villas community.
Argent has recently purchased the commercial building at 410 Glenmore Rd. in Kelowna, known as Glenmore Place. In addition to providing a very high profile location for one of Argent’s FLORA Cannabis stores, Glenmore Place has solid long-term tenants and rents from the building are providing an above average CAP rate to the Argent portfolio.