Verrault Family acquires GL&V Pulp & Paper Group

9027173 Canada Inc., a corporation owned by Richard Verreault and Laurent Verreault, completed the purchase of GLV Inc.’s pulp & paper group for a purchase price of $67,000,000. The transaction involved a reorganization of GLV’s structure to effect a carve-out of the pulp & paper division and was completed through the acquisition of all of the shares of GL&V Canada Inc. (GL&V Pulp & Paper Group). The transaction was completed following approval by a Special Committee of GLV Inc.’s board and following approval by its shareholders.

The acquisition was financed by a syndicate of lenders led by National Bank of Canada, as administrative agent.

GL&V Pulp and Paper Group designs and markets equipment used in various stages of pulp and paper production.

The Verreault family was represented by Stikeman Elliott LLP with a team that included Steeve Robitaille, Benoît Dubord, Dana Borshy, Jeremy Sculnick and Vincent Laurin (securities and M&A), Howard Rosenoff, Maxime Jacquin and Daniel Tsarevsky (banking and finance), Franco Gadoury and Dominic Bédard Lapointe (tax) and Jeffrey Brown and Marisa Muchnik (regulatory).

GLV Inc. was represented in-house by Gwen Klees and Michel Megelas and by Gowling Lafleur Henderson LLP with a team that included Robert Dorion, Rafal Wrzesien, Pierre Lissoir and Michael Garellek.

The Special Committee was represented by Fasken Martineau DuMoulin LLP by a team that included Robert Paré, Marie-Josée Neveu and Benjamin Somers.

National Bank of Canada was represented by Norton Rose Fulbright Canada LLP by a team that included David Lemieux, Mélanie Dupuis-Giuliani, Peter Riddell and Laurence Farmer (financing).