On September 19, 2018, Bombardier Recreational Products Inc. (BRP) (TSX: DOO; NASDAQ: DOOO) announced the closing of its previously announced secondary offering of 8,700,000 subordinate voting shares sold by certain of its shareholders, including Beaudier Inc. and 4338618 Canada Inc. as well as Bain Capital, at a price to the public of US$47.00 per share, for aggregate gross proceeds to the selling shareholders of US$408,900,000.
The offering was conducted through a syndicate of underwriters led by BMO Capital Markets, Citigroup, RBC Capital Markets and UBS Investment Bank as joint book-running managers and as representatives of the underwriters. CIBC Capital Markets, Desjardins Securities, Goldman Sachs Canada Inc., Morgan Stanley, National Bank Financial Inc., Wells Fargo Securities, Baird and TD Securities also acted as joint book-running managers.
BRP is a global leader in the world of powersports vehicles, propulsion systems and boats built on over 75 years of ingenuity and intensive consumer focus. Bain Capital, one of the selling shareholders, is one of the world’s leading private multi-asset alternative investment firms with approximately $105 billion in assets under management.
Fasken advised Bain Capital in this transaction with a team led by Neil Kravitz that included Frédérique Tremblay and Janie Harbec.
