The Superior Court of Quebec approved Stewart Wilkinson’s purchase of the struggling powersport company for an undisclosed sum. Wilkinson’s family office backs a group of prominent marine electrification brands, including Vita Power. (The Logic)
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The Superior Court of Quebec approved Stewart Wilkinson’s purchase of the struggling powersport company for an undisclosed sum. Wilkinson’s family office backs a group of prominent marine electrification brands, including Vita Power. (The Logic)
Talking point: Taiga, which led the charge in making electric pleasure-craft vehicles, filed for creditor protection back in July. The company’s valuation has fallen to $10 million from an initial $537-million valuation in February 2021. Taiga owes $93 million in debt to government agencies like Investissement Québec, Export Development Canada and Economic Development Agency of Canada. The Montreal company also reduced staff from 300 to 20. “This transaction will allow us to continue building the best technology, team and products to propel the industry forward,” Wilkinson said in a press release.
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