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When iolite Steps In.

iolite is, by default, a patient and largely passive owner. The founders and operators iolite backs have companies to run, and, more often than not, better things to do than talk to their shareholders. Where iolite believes it can add value, it offers strategic or financial input, or helps create a catalyst for value to be recognized. Sometimes iolite is wrong, or a thesis does not play out, in which case iolite is as willing to step back as it is to step in more deliberately.

Dynacor was a case of stepping in. iolite knew the company intimately and believed deeply in the opportunity: Dynacor could have been far better positioned and considerably more profitable, and the resources iolite devoted to driving that change were, in its view, more than justified. It is a Canadian-listed business, and iolite holds that minimum standards of governance and accountability are not optional, and that someone has to be willing to challenge when they are not met. iolite has since exited the position.