Local business icon, philanthropist, Gerry Price announced as 2024 IDEA recipient
The Associates of the Asper School of Business at the University of Manitoba announced that the 2024 International Distinguished Entrepreneur Award (IDEA) recipient is local philanthropist and business icon, Gerry Price.
Price, who holds B.Sc. and M.Sc. degrees in Mechanical Engineering from the University of Manitoba as well as a Ph.D. in Mechanical Engineering and Applied Mechanics from Lehigh University in Pennsylvania, has helped catapult Price Industries and now the Price Group of Companies from $30 million in sales to more than $1 billion, establishing a global presence across five continents and leading a team of more than 4,500 employees. He guided this prairie powerhouse via the Price Way, the company’s business model that is rooted in values such as growth, innovation and, fundamentally, service.
“It is an honour on the 40th anniversary of our event to present the 2024 International Distinguished Entrepreneur Award to Manitoba’s own Gerry Price,” says Arni Thorsteinson, Chair of the IDEA Committee and President of Shelter Canadian Properties Limited. “Bringing together excellence in both engineering and business, Gerry has transformed Winnipeg’s Price Industries Ltd. into a dominant global organization that continually pushes the boundaries of innovation. Gerry’s unwavering commitment to his team and community makes him an exemplary recipient of this award.”
The Price family has a longstanding connection to UM. Gerry Price [BSc/70, MSc/72] holds an Honorary Doctor of Laws from the University. In 2020, he and his wife, Barb Price [BHE c/69, Cert Ed/70], generously donated $20 million to the Faculty of Engineering, which now bears his name. This investment will create additional faculty member positions, greatly enhancing the capacity of the undergraduate engineering program as well as its impact on students and our community. You can read more about the Price family’s generosity to UM here.
Michael Benarroch, President and Vice-Chancellor of UM describes how Price embodies the best of UM.
“The University of Manitoba is so grateful for all that Gerry Price and his family have done for our university and the community with his exceptional talents as an entrepreneur and engineer. It will be my pleasure to honour a local icon, who encapsulates all the competencies this university inspires: humanitarianism, creative problem-solving, communication and collaboration. I look forward to celebrating and sharing his story with everyone at the gala in the spring.”
RBC continues to support Manitoba’s premier business event as IDEA’s Platinum Sponsor.
“There are icons in business and then there are those whose shoulders these icons stand upon. For both his entrepreneurial and generous spirit, Gerry Price is that person,” shares RBC Regional President Kim Ulmer. “We at RBC are returning once again to support IDEA because of the powerful role the Associates of the Asper School of Business play in honouring those who leave the deepest of footprints on the world around us.”
Founded as E.H. Price Limited in Winnipeg in 1949 by Ernest H. Price, the company was purchased by Gerry and Barb Price in 1986. In the years that followed, the company expanded its operations into the United States and beyond, became the number-one manufacturer of commercial HVAC products in North America and branched out into additional industries, including aluminum extrusion and glass manufacturing. The company is celebrating its 75th anniversary in 2024.
After Israel Asper, Gerry Price is the second person in UM’s history to be celebrated with the rare trifecta of an Honorary Degree, a Distinguished Alumni Award and the International Distinguished Entrepreneur Award.
The 2024 IDEA Dinner will take place on May 30, 2024, at the RBC Convention Centre.
About the Associates at the Asper School of Business:
The Associates are proud leaders, innovators and entrepreneurs moving the Manitoba economy forward. Comprising 365 senior executives, the Associates have been a driving force since 1982, advancing business education at the I.H. Asper School of Business. The Asper students are linked to the business community through mentorship programs, ongoing networking events and philanthropy. Giving back to the Asper School of Business and business community are the hallmark attributes of the Associates.