June 15, 2020 - With much of the world focused on the immediacy of the COVID-19 pandemic, including its heavy human and economic toll, we have cast our eyes optimistically on the (near, we hope) future when companies regain sufficient confidence to re-enter the public M&A market in large numbers. Although...
AirBoss Creates AirBoss Defense Group Through Merger of AirBoss Defense and Critical Solutions International, Inc.
Davies acted for AirBoss of America Corp. to form a new defense business, AirBoss Defense Group, through the merger of its AirBoss Defense business and other operations in Acton Vale, Quebec with privately owned, U.S.-based Critical Solutions International, Inc. (CSI), in a transaction valued at approximately US$132.7 million. The newly launched AirBoss Defense Group is well positioned to deliver a full spectrum of survivability products to service members and first responders around the world.
A leading global supplier to U.S. and foreign military forces, Critical Solutions Holdings (CSH) contributed all of the shares of CSI to the newly formed business, and AirBoss contributed shares in AirBoss Engineered Products Inc. and membership interests of Immediate Response Technologies, LLC to the newly formed business. AirBoss received 55% of the equity in AirBoss Defense Group and US$60 million and CSH received 45% of the equity in the AirBoss Defense Group.
This transaction, which created an array of opportunities to diversify and grow the defense business through innovation and integration, closed on January 1, 2020.
The Davies team that worked on this transaction included Brett Seifred, Todd Wierenga and Anne Madden (Corporate/M&A); Jim Dinning (Competition); Jessica Bullock (Labour and Employment); Sharon Ford and Gregg Benson (Tax).
Mar. 23, 2020 - The COVID-19 pandemic has had, and is likely to continue to have, a major impact on the global economy as countries implement various levels of “social distancing” and other restrictions on normal activities. In these uncertain times, many businesses may find themselves reviewing their...