DynaVenture Corp. was formed in 2000 by second generation family members Brian and Earl Eidem and Jo-Ann Thompson.[1] 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).[2] 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.[3] 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 toApplied Industrial Technologies.[4] 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.[1]
At the end ofWorld War II in February 1948, Harold Eidem left a job at a bearing company to start Bearing and Transmission Supply out of his home inVancouverBritish Columbia.[2] One of Harold's first inventory purchases, from theU.S. Navy, was impounded at the Canadian/US border due to an $1800 Canadian customs bill.[3] Having spent all of his savings on the inventory, Harold turned to his long-time friend Norman Hnatuk living inSaskatoon,Saskatchewan to pay the duty. Norman got the inventory out of the bond and became a partner in the Bearing and Transmission enterprise.[3]
In November 1948 Norman Hnatuk officially joined Harold inVancouver and one year later opened a second location inSaskatoonSaskatchewan.[3] In 1950 the B&TVancouver location was sold to Norman's brother Bill Hnatuk. Harold then joined Norm inSaskatoon where the two grew the company withinSaskatchewan. The company has since expanded to have locations throughoutNorth America.[3]
1961-Convey IT a materials handling division is formed
1964-B&T was divided into two main divisions: Saskatoon and NorthSaskatchewan operated under Norm Hnatuk and Regina andSouth Saskatchewan operated under Harold Eidem[5]
1970-B&T openedEstevan location to accommodateSaskPower coal fire electric power generating stations[3]
1972-Curtis Hoover, a hydraulic (Vickers) distributor/service business inSaskatchewan was acquired, and consequently the company established a new operating unit with locations inRegina andSaskatoon named B&T Fluid Power Ltd.[6]
