About Diversified

ABOUT US

DIV is a multi-royalty corporation engaged in the business of acquiring top-line royalties from well-managed multi-location businesses and franchisors in North America. DIV’s objective is to acquire predictable, growing royalty streams from a diverse group of multi-location businesses and franchisors.

High Quality

DIV’s royalty partners are Mr. Lube, AIR MILES®, Sutton, Mr. Mikes Nurse Next Door and Oxford Learning Centres, and have been in business for 19 to 60 years.

Diversified

DIV’s six royalty partners are in different industries, and have different geographic exposure.

Growth

DIV intends to increase cash flow per share by making accretive royalty purchases and through the growth of purchased royalties.

ROYALTY PARTNERS

Board of Directors

Audit

Governance, Nominating & Compensation

Investment

Effective May 21, 2015, Mr. Haber transitioned from his role as Executive Chair of the Corporation to Chair. Mr. Haber was appointed Executive Chair of Diversified Royalty Corp. (“DIV”) effective August 6, 2013. Prior to that, Mr. Haber served as President and CEO of BENEV Capital Inc. (as DIV was then), from June 29, 2011 to August 2013. From 2006 to 2009, Mr. Haber held a number of executive positions with DundeeWealth Inc., including Executive Vice-President and Co-Head of Dundee Capital Markets and Executive Vice-President and Chief Operating Officer of Dundee Securities Corporation. Mr. Haber is a former financial industry executive and corporate and securities lawyer. He has had a diverse career involving a wide variety of responsibilities and experiences in relation to the capital markets.

Mr. Ciampi is a co-founder and managing partner of private equity firm, Maxam Capital, which focuses on structured investments in both publicly traded and private companies. Prior to forming Maxam, Mr. Ciampi was the Executive Vice President and Chief Financial Officer of Gibralt Capital and a partner of Second City Capital Partners, Vancouver-based private equity groups.

 

Mr. Ciampi also serves on the Board of Premium Brands Holding Corporation. Mr. Ciampi is a graduate of the University of British Columbia with a degree in Commerce and holds a Chartered Accountant designation.

Ms. Rogers has over 20 years of experience working for Canadian-based international public companies in the areas of corporate governance, treasury, mergers and acquisitions, financial reporting and tax. Ms. Rogers has been an officer of several public companies including Vice-President, Treasurer of Goldcorp Inc. and Treasurer of Wheaton River Minerals Ltd. where she was responsible for the financing and tax structuring of several significant transactions during the companies’ remarkable growth. She also held various senior finance positions in corporate reporting, tax and treasury at Finning International Inc. over a period of nine years. Currently, Ms. Rogers is a Director and Chair of the Audit Committee of public companies and non-profit organizations. Ms. Rogers is a graduate of the University of British Columbia with a Bachelor of Commerce degree and holds a Chartered Professional Accountant designation.

Mr. Herdler has significant finance, operations and capital markets expertise with over 25 years as a Chief Financial Officer, an investment banker, a CPA, CA, tax advisor and a private equity management consultant in several industries. Mr. Herdler has been the Chief Financial Officer of several companies, including one U.S. publicly listed company, six U.S. private equity-owned companies and one global real estate company, in high change and growth situations in integration, operational improvement, IT conversions and turnarounds. Mr. Herdler is currently Chief Financial Officer of QuadReal Property Group in Vancouver, BC, which manages over a $25 billion portfolio of income properties, developments and investments in all real estate asset classes in 17 countries and 23 cities. Previously, he was a Senior Director with Alvarez & Marsal Private Equity Performance Improvement Group, LLC in New York, NY. In addition, Mr. Herdler spent nearly ten years in investment banking, leveraged finance and equity capital markets at Deutsche Bank Securities, Bankers Trust and CIBC World Markets. He also spent over six years at KPMG in accounting and tax advisory. Mr. Herdler is a graduate of the University of British Columbia with a degree in Commerce and holds a Chartered Professional Accountant, Chartered Accountant designation.

Ms. McLachlan is currently the President of the Oakville Milton District Real Estate Board (“OMDREB”), and has held senior leadership roles in trade associations and not-for-profit organizations for over 30 years. Prior to joining OMDREB, Ms. McLachlan was the President and Chief Executive Officer of the Canadian Franchise Association (“CFA”), the authoritative voice of franchising in Canada, from October 2006 to May 2018. Prior to joining CFA, Lorraine served for 10 years as Vice President of the Canadian Marketing Association and also held senior fundraising roles for a number of social service agencies. Ms. McLachlan has also served as a director of several non-profit organizations. She is a graduate of the University of Toronto and holds an MBA from Royal Roads University in British Columbia.

Audit Committee

The Audit Committee is appointed by the Board and is responsible for the oversight of the Company’s financial reporting practices, internal controls, audits of financial statements and the independence and performance of the Company’s auditors.
The members of the Audit Committee are Ms. Paula Rogers (Chair), Mr. Garry Herdler and Ms. Lorraine McLachlan.

Investment Committee

The Investment Committee is appointed by the Board for the purpose of reviewing and providing recommendations to the Board with respect to proposed acquisitions and dispositions, and relating financing and capital structure needs, as may be considered from time to time by the Company.
The members of the Investment Committee are Mr. Garry Herdler (Chair), Mr. Lawrence Haber and Mr. Johnny Ciampi.

Governance, Nominating and Compensation Committee

The Governance, Nominating and Compensation Committee is appointed by the Board, and is responsible for developing and recommending to the board corporate governance principles, overseeing the evaluation of the board and management, board and committee member selection, as well as compensation philosophy, policies and plans for directors and executive officers.
The members of the Governance, Nominating and Compensation Committee are Ms. Lorraine McLachlan (Chair), Mr. Johnny Ciampi and Ms. Paula Rogers.

Management Team

Sean Morrison, President & Chief Executive Officer

Mr. Morrison is responsible for the overall business as well as royalty transaction identification and negotiation. Mr. Morrison developed the concept of the top-line royalty fund in 1998 and has over 20 years of experience with several of Canada’s leading franchisors and multi-location operators advising The Keg, lululemon, Aritzia, Boston Pizza, A&W and Colliers International.

Mr. Morrison is a co-founder and Managing Partner of the Maxam Opportunities Funds – private equity funds investing in debt and equity of private and public companies. Previously, Mr. Morrison was a partner at Capital West Partners, a Vancouver-based investment banking firm, where he advised companies across Canada with respect to capital raises, IPOs, debt restructuring, asset sales, acquisitions, valuations and fairness opinions.

In 2007, Mr. Morrison was selected by Business in Vancouver as one of Vancouver’s Top 40 Under 40.
In 2008, Mr. Morrison was selected as a member of a nine-person Economic Advisory Council that provided expert advice and recommendations to the BC government on maintaining and enhancing the province’s economic strengths during the economic crisis.

Mr. Morrison is a graduate of the University of British Columbia with a degree in Commerce and holds a Chartered Professional Accountant, Chartered Accountant designation.

Mr. Morrison currently serves as a Director on the Board of goeasy Ltd.

Greg Gutmanis, Chief Financial Officer & VP Acquisitions

Mr. Gutmanis is responsible for royalty transaction execution and due diligence, as well as overall financial reporting. Mr. Gutmanis joined DIV from Maxam Opportunities Funds, a private equity firm where he served as Chief Financial Officer and Vice President. At Maxam, Mr. Gutmanis was responsible for transaction execution, due diligence, structuring and monitoring of portfolio investments (including previous appointments as a director and chair of the audit committee on portfolio investments).

Previously, Mr. Gutmanis worked at Capital West Partners, a Vancouver-based investment banking firm, where he was actively involved in advising public and private companies with respect to acquisitions, restructurings, divestitures, mergers, financings and fairness opinions.

In 2017, Mr. Gutmanis was selected by Business in Vancouver as one of Vancouver’s Top 40 Under 40, and in 2020 was a recipient of the BC CFO Awards from BIV and the Chartered Professional Accountants of BC. Mr. Gutmanis is a graduate of the University of British Columbia with a degree in Commerce and holds a Chartered Professional Accountant, Chartered Accountant designation and a Chartered Business Valuator designation.

Mr. Gutmanis currently serves as a Director and Treasurer of the Lions Gate Hospital Foundation.

Abigail Meana, Corporate Controller

Ms. Meana is responsible for the accounting, tax and financial reporting of the Company, monitors royalty partner performance and assists with due diligence work on potential royalty transactions. Prior to joining DIV, Ms. Meana held financial reporting positions in real estate and gaming industries where she was responsible for public company compliance and reporting, debt compliance, tax and cash flow forecasting.

Ms. Meana is a graduate of the University of British Columbia with a degree in Commerce and holds a Chartered Professional Accountant, Chartered Accountant designation.