TRIWEST FUND IV REPORT UNDER THE FIGHTING AGAINST FORCED LABOUR AND CHILD LABOUR IN SUPPLY CHAINS ACT
This report of TriWest Capital Partners IV, L.P. and TriWest Capital Partners IV (US), L.P., both limited partnerships formed under the laws of the Province of Alberta (together, “TriWest Fund IV”), is made pursuant to the Fighting Against Forced Labour and Child Labour in Supply Chains Act, S.C. 2023, c. 9 (the “Act”) for the fiscal year ending December 31, 2023. TriWest Capital Partners IV (2011) Inc. is a corporation formed under the laws of the Province of Alberta, is headquartered in Calgary, Alberta, and is the general partner of both TriWest Capital Partners IV, L.P. and TriWest Capital Partners IV (US), L.P. (the “General Partner”).
Founded in 1998, TriWest Capital Partners is a leading private equity firm based in Western Canada having raised $1.7 billion of committed capital across seven funds. Over the past 25-years, TriWest has invested in 48 portfolio companies with a primary focus on businesses headquartered in, or with a strong connection to, Western Canada.
Based upon the audited financial statements of TriWest Fund IV for the fiscal year ended December 31, 2023, TriWest Fund IV is an entity that is subject to the Act. TriWest Fund IV does not produce goods in Canada, nor does it import goods produced outside Canada, but it does control, directly or indirectly, Kayden Industries LP (“Kayden”), which is an entity that produces goods in Canada and is subject to the Act.
TriWest is committed to the prevention and reduction of forced labour and child labour and to the protection of human rights in its own business and in the portfolio companies that it controls. Kayden requires its vendors to adhere to it’s Environmental, Social and Sustainability Governance program, which describes Kayden’s standards and expectations concerning human rights. Kayden commits itself to respecting and upholding human rights and requires its vendors, partners, and affiliates to do the same. Kayden has determined that its activities and supply chains do not carry a risk of forced labour or child labour being used and, accordingly, there is no requirement for remediation. Kayden has prepared and filed its own report in compliance with the Act, which can be found on its website www.kaydenindustries.com
TriWest Fund IV owns a majority of the voting shares and has representatives on the board of directors of Kayden. TriWest Fund IV uses its position on the Board to:
- ensure the proper systems, policies and procedures are in place to be compliant with all laws and regulations, including workplace safety requirements, sanctions legislation and the Act; and
- engage legal counsel and other professional advisors to keep current and compliant with all applicable laws and regulations.
In addition, prior to acquiring a majority voting interest in any portfolio company, TriWest Fund IV engages legal, finance, tax, risk, and other professional advisors to complete exhaustive due diligence, including compliance with all applicable laws, rules, and regulations, all of which is a requirement of TriWest’s Environmental, Social & Governance Policy, Diversity, Equity & Inclusion Policy, Investment Policy and Code of Conduct & Ethics. TriWest is also a signatory to the United Nations Principles for Responsible Investing, which has six guiding principles for incorporating environmental, social and governance factors into our investment decisions.
Lastly, TriWest Capital Partner believes in supporting the communities where we live and work. Through our community involvement, we donate our time and money to a variety of charitable organizations which we are passionate about, including #NotInMyCity, a not-for-profit organization dedicated to the education and prevention of human trafficking, sexual exploitation, and modern slavery.
Terms and expressions defined in the Act shall, when used herein, have the same meanings as are ascribed to them therein.
In accordance with the requirements of the Act, and in particular section 11 thereof, I attest that I have reviewed the information contained in this report for TriWest Fund IV. Based on my knowledge, and having exercised reasonable diligence, I attest that the information in this report is true, accurate and complete in all material respects for the purposes of the Act for the reporting year ending December 31, 2023. I also confirm that this report has been approved by the Board of Directors of the General Partner for and on behalf of TriWest Fund IV and that I have authority to bind the General Partner.
Dino DeLuca
Chief Operating Officer
May 31, 2024