On March 4, 2005, Borealis Capital Corp. acquired from Wafra Partners LLC of New York and management shareholders a majority interest in two leading North American suppliers of luggage and bags—Montreal-based Holiday Group Inc. and Florida-based Travelpro International, Inc. The amount of the transaction is undisclosed.

Holiday Group and senior Canadian management were represented by Davies Ward Phillips & Vineberg LLP with a team that included Robert Vineberg, Marc-Alexandre Poirier and Sylvie Guillemette (corporate) as well as Alan Shragie and Fred Purkey (tax).