Two local investment funds have invested in Regina-based Degelman Industries.

Golden Opportunities Fund Inc., in syndication with Westcap MBO II Investment LP, announced the investment Jan. 16 but didn’t immediately release any financial details. Westcap Mgt. Ltd. of Saskatoon manages both funds.

Degelman has been in business since 1962 and markets extensively around the world. Its equipment line includes rock pickers, tillage equipment, land rollers, heavy harrows and bulldozer blades.

It employs 269 people and has manufacturing and research and development facilities.

Grant Kook, president and chief executive officer of Westcap, said the investment “will continue to drive economic growth in our province by fueling Degelman’s success here and at home and ensuring that its innovative, high-quality and diverse products and product lines continue to reach various sectors and markets across the world.”

Paul Degelman, on behalf of the family company, said the fund’s investments would “solidify our roots here in Saskatchewan with a partner that understands the importance of our local culture, will foster new growth and will propel our plans to grow our brand and our business globally.”