Group of investors acquire MAAX Inc.

Date Closed: 3/11/2004

Value: $640 million

On March 11, 2004, MAAX Inc. announced that it had concluded a definitive merger agreement with a group of investors comprised of J.W. Childs Equity Funding III, Inc., Borealis Private Equity Limited Partnership, Borealis (QLP) Private Equity Limited Partnership and Ontario Municipal Employees Retirement System Board pursuant to which as a result of an amalgamation the group would acquire all the shares of MAAX for an aggregate purchase price of approximately $640 million, including the assumption of existing indebtedness. The transaction closed on June 4, 2004.

The independent committee of MAAX was represented by BLG, with a team that included Frank Allen, H. John Godber, André Dufour, Tammy Shulman, Sébastien Berthelet, Frédéric Chatel and Élise Renaud (M&A and securities), Stéphane Richer (real estate), Yves Dubois (environment), Lise Bertrand (intellectual property), François Longpré (employment), Vincent Frenette (secured financing), Elinore Richardson (tax) and Adam Fanaki (competition and Investment Canada).