The founder of one of the cornerstones of Hawkesbury’s high-tech sector has handed over the reins to the company’s management team.
Barney Bangs, chairman and the biggest shareholder of Tulmar Safety Systems, has handed over full control of the company’s operations to its management team. The company issued a news release earlier this month about the management buyout let by Tulmar Chief Executive Officer Patrick Tallon.
Other than the change in primary ownership there is no other change for Tulmar’s operations and its place as part of the foundation of the local tech sector.
“Tulmar is going to stay in Hawkesbury, as Barney wished,” said Lori Morris, Tulmar vice-president of operations, in a phone interview January 13.
For more than 30 years Bangs has guided Tulmar to a prominent and respected position in the field of protective equipment for a variety of situations. He sits on the Canadian Association of Defence and Security Industries council and also the Aerospace Industries Association of Canada council. He will now hold a minor stake in the company and continue to sit on the Tulmar board and provide advice based on his experience and expertise as the company’s management team continues to develop Tulmar’s line of security products.
“I have always been impressed by the quality of Tulmar’s management team,” stated Bangs, “which is made up of long-serving employees with diverse expertise. Ensuring the continuity of our people-focused culture during this period of transition was a top priority for me.”
“Tulmar has built a reputation for designing products and services dedicated to protection,” stated Tallon, Tulmar CEO since 2019, “and we are determined to continue this legacy. Barney’s commitment to our customers and employees is deeply embedded in our company culture, and we are grateful for his ongoing contribution.”
Besides Tallon and Morris, the new ownership group for Tulmar includes Benoît Corbeil, who leads the engineering portion, and Ryan McCormick for finance.
