On December 10, 2010, privately held US company Nova Metrix LLC and Roctest Ltd. (TSX: RTT) of Canada jointly announced the closing of the acquisition by Nova Metrix of all of the outstanding common shares of Roctest, through an indirect wholly-owned subsidiary of Nova Metrix. The aggregate consideration paid by Nova Metrix was $23,489,500. The transaction was completed by way of a plan of arrangement governed by the Companies Act (Québec) involving shareholders and optionholders of Roctest. The final order of the Superior Court of Québec approving the arrangement was rendered on December 7, 2010.
Nova Metrix, through its subsidiaries and affiliates, designs, manufactures and markets test and measurement instrumentation solutions. Roctest designs, manufactures and markets sensors and high-precision measuring instruments for the civil engineering market and applications in the energy, healthcare and process control industries.
Nova Metrix was advised in this transaction by Fasken Martineau with a team that included, among others, Rubin Rapuch, Aaron Atkinson, Frédéric Boucher, Brad Freelan, Jean-François Séguin and Jessica Catton (corporate/securities), Armand Benitah (intellectual property), Christopher Steeves (tax) and Stéphanie Lapierre (litigation).