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Atrium Innovations and its subsidiaries acquire Mucos Emulsions for US$175 million

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National Bank Financial Inc.

On July 12, 2007, Atrium Innovations Inc. and its subsidiaries acquired German-based Mucos Emulsions GmbH for a total amount of approximately US$175M. In order to proceed with the Mucos acquisition Atrium Innovations Inc. and its subsidiaries refinanced their bank debt on July 4, 2007, increasing their credit facilities with a lending syndicate led by National Bank Financial Inc. and RBC Capital Markets, as co-lead arrangers, to US$350M. The credit facilities consist of cross-border acquisition facilities, made available to Atrium Innovations Inc. in Canada and Atrium Finance 1 ULC in the U.S. They are endowed with an accordeon feature that permits the borrowers to increase the availability thereunder to an aggregate amount of US$425M. Atrium Innovations Inc. is a leading developer, manufacturer and marketer of value-added products for the cosmetics, pharmaceutical, chemical and nutrition industries. Atrium Innovations Inc. focuses primarily on growing segments of the health and personal care markets. The group markets a broad portfolio of active ingredients, specialty chemicals and health and nutrition finished products through its sales and marketing network in more than 35 countries, primarily in North America, Europe and Asia. Through the acquisition of Mucos Emulsions GmbH, the group established a significant presence in Europe with a long established and leading brand in the fast growing health and nutrition market. The lending syndicate was represented by David Lemieux, Felix Gutierrez and Alexandre Gagnon (banking and financing) of Fasken Martineau DuMoulin LLP, in Montréal and Jon Holmstrom (banking and financing), in Toronto.



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