Atrium Innovations Inc., a globally recognized leader in the development, manufacturing and commercialization of innovative, science-based natural health products, announced that it has entered into a definitive arrangement agreement with a company backed by the Permira funds whereby the Permira funds will acquire all the issued and outstanding common shares of Atrium, other than the shares to be rolled over by Fonds de solidarité FTQ and Caisse de dépôt et placement du Québec. Upon completion of the transaction, Atrium will be jointly owned by the Permira funds (75%), the Fonds (12.5%) and CDPQ (12.5%), before management equity programs. Atrium will maintain its head office in Québec, complete the expansion of the Québec manufacturing facility, and maintain current levels of employment, investment and R&D in Québec and Canada as well as ongoing community expenditures. The transaction represents a total enterprise value of approximately $1.1 billion, including the assumption of existing indebtedness, for 100% of Atrium. “The Permira funds understand and have a deep respect for Atrium’s Québec heritage which has been a key component of the Company’s historic success and will remain a highly important factor in the future”, said Pierre Laurin, Chairman of the Board of Atrium. “Our Board is pleased to recommend this transaction to our shareholders as it provides them with substantial and immediate cash value and is in the best interest of all stakeholders of the Company.” “Atrium has built over the years a great global platform and we intend to expand on that achievement”, said Pierre Fitzgibbon, President and CEO of Atrium. “Atrium intends to continue to pursue its growth strategy both organically and through acquisitions. The Permira funds’, the Fonds’ and CDPQ’s resources provide us the ability to accelerate our growth with the financial ability to expand globally. We look forward to working with our three partners and taking the Company to a new level to realize its full potential.”
