Xebec Announces Sale of Tiger Filtration MONTRAL, QC, January 31 2023 – Xebec Adsorption Inc. (“
Xebec” or the “
Corporation”), a global provider of sustainable gas solutions, announced today the sale of its whollyowned United Kingdom based subsidiary, Tiger Filtration Limited, further to the Corporation’s previously announced ongoing sale and investment solicitation process (the “
SISP”), to a whollyowned subsidiary of the FORUM Family Office (“
FORUM”) based in Munich. FORUM operates a portfolio of midsized companies, which are active in industrial niche businesses.
Osler, Hoskin & Harcourt LLP and Stevens & Bolton LLP acted as Xebec’s legal advisors in connection with the transaction. The Corporation’s financial advisor is National Bank Financial Inc. The Endeavour Partnership LLP acted as UK legal counsel to FORUM in connection with the transaction.
Xebec will provide further updates as developments warrant. Information regarding the SISP and the Corporation’s proceedings under the
Companies’ Creditors Arrangement Act and in the United States under Chapter 15 of the Bankruptcy Code (collectively, the “
CCAA Proceedings”) are available on the Deloitte Restructuring Inc. (the “
Monitor”)’s website at
https://www.insolvencies.deloitte.ca/Xebec. Information regarding CCAA Proceedings can also be obtained by calling the Monitor at 5143936722 or toll free at 18883936722 and via email at
xebec_ccaa@deloitte.ca. Investor Relations: Xebec Adsorption Inc.
investors@xebecinc.com +1 4509798700