Savaria Corporation completion of offer to acquire Handicare Group AB

Savaria Corporation completion of offer to acquire Handicare Group AB

On Mar. 4, 2021, Savaria Corporation, a global company in the accessibility industry, successfully completed its SEK2.9-billion (approximately $452-million) cash offer to acquire all the issued and outstanding shares of Handicare Group AB for SEK50 per share. Savaria raised a total of approximately $191 million in equity through a combination of a “bought deal” private placement of subscription receipts through a syndicate of underwriters led by National Bank Financial Inc., Desjardins Capital Markets, Scotiabank and TD Securities Inc. (Underwriters) and a concurrent non-brokered private placement of subscription receipts with the Caisse de dépôt et placement du Québec.

Savaria also entered into a new senior secured $450-million credit facility with a syndicate of lenders led by National Bank of Canada (Lenders).

Sylvain Aubry, chief legal officer and corporate secretary, and Francis D'amour Montminy, legal counsel, represented Savaria.

Blake, Cassels & Graydon LLP also represented Savaria in connection with its Canadian financing, with a team that included
Howard Levine
,
Pascal de Guise,

Yu Li,
Mathieu Guindon,

Sarah Chahine (corporate/securities),
Neil Katz,

Rebecca Dawe,
Camille Massé-Pfister,

Marc Godber (financial services).

Norton Rose Fulbright Canada LLP represented both the Underwriters and the Lenders. The team assisting the Underwriters included
Stephen Kelly
,
Amélie Metivier,

Thomas Charest-Girard,
Charles-Étienne Borduas,

Kiri Buchanan (corporate/securities),
and the team assisting the Lenders included

David Lemieux
,
Michele Friel,

Josh White (financial services).

Lavery, de Billy, L.L.P. represented CDP Investissements Inc., with a team that included
Jean-Sébastien Desroches,
Josianne Beaudry,

Pierre-Olivier Valiquette,
Frédéric Boivin Couillard (corporate/securities).

Hannes Snellman represented Savaria as its Swedish counsel, with a team that included
Ola Åhman,
Sanna Böris,

Mattias Friberg (corporate/securities).