update skidoo sale sealed
Amsnow
Bain Capital, the Caisse de depot et placement du Quebec and the members of the Bombardier family, who now share the ownership of the newly created Bombardier Recreational Products Inc., today confirmed that the acquisition process of the recreational products group of Bombardier Inc. has been completed for the amount of $960 million Cdn (About $725 million US).
In addition, the investor group nominated Mr. Laurent Beaudoin as Chairman of the Board of the new company. "We are very pleased to have completed the purchase, and look forward to the challenge of ensuring our company's future growth," said Mr. Beaudoin.
Mr. Beaudoin also confirmed the nomination of Mr. Jose Boisjoli as President and Chief Executive Officer. "Mr. Boisjoli has distinguished himself during his 15 years with Bombardier Inc. s recreational products group. He has repeatedly proven that he has the knowledge, judgment and vision to successfully manage this new company," stated Mr. Beaudoin.
Expressing enthusiasm for his new position, Mr. Boisjoli stated: "I am honored by the trust the investor group has placed in me. I embrace the opportunity to lead Bombardier Recreational Products because I firmly believe that together with the management team, our employees and our dealer networks, we are capable of reaching new heights for our company while continuing to deliver the highest customer satisfaction
Mr, Beaudoin thanked the management, employees and partners of Bombardier Recreational Products Inc. around the world for their patience and commitment to the company. "We are very grateful for your loyalty, dedication and efforts to move the business forward during the sale process," he emphasised.
Bombardier Recreational Products Inc. is a world leader in design, development, manufacturing, distributing and marketing of Sea-Doo® watercraft and sport boats, Ski-Doo® and Lynx® snowmobiles, Johnson® and Evinrude® outboard engines, direct injection technologies such as Evinrude E-TEC™, Bombardier* all-terrain vehicles (ATV), Rotax™ engines and karts, as well as Bombardier* utility vehicles.
Bain Capital is a leading global private investment firm with strong experience in a variety of industries. With a 19-year investment history, the firm has made a number of investments in retail and consumer products companies, including Shoppers Drug Mart, Sealy, Domino's Pizza, and Staples.
The Caisse de depot et placement du Quebec is a financial institution that manages funds for public and private pension and insurance funds.