Canam Group announces going-private transaction by a group of investors led by the Dutil Family

Saint-Georges, QC – Canam Group Inc. announced that it has entered into a definitive agreement pursuant to which members of the Dutil family and American Industrial Partners will acquire, directly or indirectly, all of the issued and outstanding common shares of the Corporation, except for approximately 4.7 million shares already owned by the Family Group which the Family Group will roll over in connection with the transaction, for a price of $12.30 per Share in cash.  Caisse de dépôt et placement du Québec and Fonds de solidarité FTQ, long-time shareholders of Canam, are expected to participate in the transaction as equity investors, including by rolling all or part of their Shares, and as such, Caisse, Fonds and the Family Group could own as much as 40% of equity in the future company.

“The proposed transaction is a win-win for all of Canam’s stakeholders,” said Marc Dutil, President and Chief Executive Officer of the Corporation. “The transaction provides shareholders with a significant cash premium for their shares, while ensuring the long-term success of the business for its employees, business partners and other stakeholders. AIP, with whom we have worked in the past, will provide expertise to stimulate Canam’s competitiveness and growth.

Marcel Dutil, Chairman of the Board of Directors stated: “Canam is a flagship company in Québec, and AIP recognizes this to be one of Canam’s strengths. As such, we and our partners at AIP are maintaining the Corporation’s head office in Québec.”

About Canam Group Inc.

Canam specializes in designing integrated solutions and fabricating customized products for the North American construction industry. Each year, Canam takes part in an average of 10,000 building, structural steel and bridge projects, which can also include the supply of preconstruction, project management and erection services. The Corporation operates 23 plants across North America and employs over 4,650 people in Canada, the United States, Romania and India.

About American Industrial Partners

American Industrial Partners is an operationally oriented middle-market private equity firm that makes control investments in North American-based industrial businesses serving domestic and global markets. The firm has deep roots in the industrial economy and has been active in private equity investing since 1989. To date, American Industrial Partners has completed over 70 platform and add-on transactions and currently has US$4.1 billion of assets under management on behalf of leading pension, endowment and financial institutions. American Industrial Partners invests in all forms of corporate divestitures, management buyouts, recapitalizations, and going-private transactions of established businesses with leading market shares with revenues of between US$200 million to US$2 billion.

Source: Canam Group Inc.