BRP Inc. completes US$408.9M secondary offering of shares
On September 18, 2018, BRP Inc. completed its previously announced secondary offering pursuant to which Beaudier Inc., 4338618 Canada Inc., Bain Capital and other selling shareholders sold 8,700,000 subordinate voting shares of BRP at a price of US$47.00 per share for aggregate gross proceeds of US$408.9 million.
The shares were offered through a syndicate of underwriters who have also been granted an over-allotment option to purchase, for a period of 30 days from the closing date, up to 1,305,000 additional shares. The underwriters were led by BMO Capital Markets, Citigroup, RBC Capital Markets and UBS Investment Bank, acting as joint bookrunning managers.
Based in Québec, BRP is a global leader in the design, development, manufacturing, distribution and marketing of powersports vehicles and propulsion systems.
McCarthy Tétrault LLP advised the underwriters, as Canadian counsel, with a team led by Clemens Mayr that included Charles-Antoine Soulière and Jessica Rousseau.
