Héroux-Devtek Establishes Cross-Border Acquisition Facility

Quebec-based Héroux-Devtek Inc., a company specialized in the design, development, manufacture and repair of aerospace and industrial products, established a cross-border $100 million acquisition facility with a syndicate of four lenders. National Bank of Canada is the arranger of the facility. The credit facility will be used to finance the company’s future acquisitions. The deal closed on March 21, 2002.

Héroux-Devtek was represented by Desjardins Ducharme Stein Monast in Montreal, with a team that included François Renaud, Catherine Papineau and Pascale Dionne; with assistance from Peter Kiborn and Eamonn Flaherty of Miller Thomson LLP in Toronto; David Stewart, Q.C., and Maurice Chiasson of Stewart McKelvey Stirling Scales in Nova Scotia; Eric Bruenner and Michele Arbeeny of Windels Marx Lane & Mittendorf, LLP in New York; Ellen Macfarlane, Charles Moore, James Goodwin, Andrew Macfarlane and James Foyil of Macfarlane Ferguson & McMullen in Florida; and Eric Okerson of Graydon Head & Ritchey LLP in Ohio.

The syndicate of lenders was represented by Fasken Martineau DuMoulin LLP, with a team that included David Lemieux and Jan-Fryderyk Pleszczynski in Montreal. Michael Clain of Brauner Baron Rosenzweig & Klein, LLP in New York acted as U.S. special counsel to the lenders.