~Toby Tannas~

Photos by Lia Crowe

From his home tucked in KelownaB次元官网网址檚 south slopes, overlooking Okanagan Lake, Elroy Gust lives and works with gratitude for the life heB次元官网网址檚 crafted. Getting to where he is today did not happen by accident. From the very early days of his career, this CEO had a clear vision of where his path would lead.

B次元官网网址淭his is just where I always saw myself,B次元官网网址� says Elroy, referring to his drive for successB次元官网网址攕omething cultivated in his humble Manitoba farming family roots.

Happily married with three grown children, heB次元官网网址檚 founder, president and CEO of Newlook Capital. The private equity firm is based in Ontario but now more than ever, Elroy manages Newlook from his home office three time zones away.

B次元官网网址淚 donB次元官网网址檛 mind the schedule, a lot of people in Kelowna have this schedule. You roll out of bed and by 6 am youB次元官网网址檙e on your first call. Then by about 1:30 to 2:00 pm your phone stops ringing because the work day is over back east. I really like the lifestyle.B次元官网网址�

ElroyB次元官网网址檚 home office didnB次元官网网址檛 always boast lake and mountain views. For more than 30 years, he enjoyed the hustle and bustle of city life. From his start in the commercial lending department of a Lower Mainland bank, to buying and selling multiple companies, to founding Newlook Capital, Elroy has learned important lessons every step of the way.

B次元官网网址淲ith my first job as a commercial lender, I started to understand how things work from a lending perspective,B次元官网网址� he explains. B次元官网网址淲hen I worked with my dad and my brother, we had a warehousing-logistics business in Toronto. I grew it, became president at 29 and then, when I turned 30, I decided it was time to sell and I made my first million.B次元官网网址�

That taste of successB次元官网网址攐f building something with your own grit, determination and wherewithalB次元官网网址攗ltimately spurred Elroy to form Newlook Capital. Over the course of a decade, the company has grown to more than 700 employees in both Canada and the United States. Newlook owns more than a dozen companies and continues to have very active and strategic acquisition plans.

B次元官网网址淭his year we will buy another four businesses and I would say weB次元官网网址檙e talking to about 15 in total right now.B次元官网网址�

Elroy has removed himself from daily operations, by design, working on select projects and dealing directly with the executive management team.

B次元官网网址淭he business will continue to grow,B次元官网网址� he says. B次元官网网址淲eB次元官网网址檝e really built the fly wheel, weB次元官网网址檝e built the culture, weB次元官网网址檝e built the machine. Now it keeps going, keeps growing whether IB次元官网网址檓 involved more or less.B次元官网网址�

Elroy is always ready and willing to fly back east if needed (he spends at least a few days a month in the Burlington office), but his days of being a regular, weekly commuter are done. COVID-19 played a hand in that.

B次元官网网址淚 had already become intentional with my travel, but when COVID happened, I stopped travelling back and forth altogether. I got rid of the condo in Burlington and set up in Kelowna full time. So far itB次元官网网址檚 worked out well using Zoom.B次元官网网址�

COVID-19 hasnB次元官网网址檛 had a huge economic impact on Newlook CapitalB次元官网网址檚 business holdings, as all were deemed essential services. In the early days of uncertainty, though, Elroy found himself in a new roleB次元官网网址攖hat of mentor. His knowledge and experience allowed him to guide and support operating partners who were nervous and overwhelmed with the rapidly changing business climate.

B次元官网网址淭he biggest thing for me was changing their mindset from being defensive to offensive. For me to get engaged with the people who are at the ground level running the businesses and get their mentality to shift, that I could have that impact on someone, that was really cool for me.B次元官网网址�

It also allowed Elroy to look at whatB次元官网网址檚 made him successful over the years and what advice he would give to young people working in any career field.

B次元官网网址淩ecognize what you are good at. Really understand that and quantify it,B次元官网网址� he says emphatically. B次元官网网址淚 recognize what I am not good at and then I partner with people who are good at those things to make sure that IB次元官网网址檓 just working on my strengths.B次元官网网址�

With four years of Okanagan living under his belt, Elroy is pretty comfortable in his new schedule and laid-back surroundings. He says the most notable difference between Burlington and Kelowna is how he answers the question, B次元官网网址淲hat do you do?B次元官网网址�

B次元官网网址淲hen people in Kelowna ask you what you do, I had to recognize theyB次元官网网址檙e not asking you what you do for a living, they donB次元官网网址檛 care. TheyB次元官网网址檙e asking, B次元官网网址榙o you snowboard, do you ski?B次元官网网址� ThatB次元官网网址檚 the focus here,B次元官网网址� he chuckles.

Elroy has become an avid skier (even though he almost threw in the towel during his first week of lessons). He spends summer afternoons on the lake and ample time socializing with friends.

B次元官网网址淚 joined a business leadersB次元官网网址� group and have met a lot of great people, many who are in similar situations, working remotely.B次元官网网址�

Elroy seems to have achieved the perfect balance between work and lifestyle. It makes a final question about retirement almost unnecessary.

B次元官网网址淚 donB次元官网网址檛 think IB次元官网网址檒l ever retire. I can manage how many days IB次元官网网址檓 working and how much effort IB次元官网网址檓 putting in.B次元官网网址�

That is a privilege thatB次元官网网址檚 earned through years of commitment and, in the case of Elroy Gust, one that will be savoured for years to come.