Agreements to Acquire 100% of Boyle Transportation - Launches C$168,700,000 Bought Deal Offering -
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TORONTO, Oct. 05, 2021 (GLOBE NEWSWIRE) -- Andlauer Healthcare Group Inc. (TSX: AND) (“AHG” or the “Company”) today announced that it has entered into definitive agreements to acquire 100% of T.F. Boyle Transportation, Inc. (“Boyle Transportation”) and 51% of Skelton USA Inc. (“Skelton USA”), increasing AHG’s aggregate ownership of Skelton USA to 100%. AHG expects the acquisitions to be immediately accretive to cash flow and earnings per share.
The Company also announced that it, together with Andlauer Management Group Inc. (“AMG” or the “Selling Shareholder”), has entered into an agreement with an underwriting syndicate led by CIBC Capital Markets and RBC Capital Markets (the “Underwriters”) to complete a new issue and secondary offering (the “Offering”), on a bought deal basis, of an aggregate of 3,500,000 subordinate voting shares at a purchase price of C$48.20 per subordinate voting share for aggregate gross proceeds of C$96,400,000 to the Company and C$72,300,000 to the Selling Shareholder.
https://www.globenewswire.com/news-release/2021/10/05/2309176/0/en/Andlauer-Healthcare-Group-Announces-Agreements-to-Acquire-100-of-Boyle-Transportation-and-Remaining-51-of-Skelton-USA.html