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March 22, 2018

Toronto - Leading global professional services firm Alvarez & Marsal (A&M) announced today the successful completion of a refinancing for Annexair Inc. (“Annexair” or the “Company”). The Company had outgrown its existing production capacity and required a credit facility to payout its existing lender and finance the capital equipment associated with its relocation to a larger nearby facility in St-Germain-de-Grantham, Quebec.

Headquartered in Drummondville, Quebec, Annexair is a leading designer and manufacturer of premium quality, highly customized, energy-efficient, air handling systems for commercial and industrial applications.

As Annexair’s exclusive financial advisor, A&M worked closely with the management team to arrange a senior secured capital structure that provides the Company with the required financial flexibility to execute its growth strategy.

Hugh Rowan-Legg, a Managing Director with A&M Canada Securities, said, “A&M advised on a combined $25.0 million senior credit facility, consisting of a revolving credit facility, foreign exchange facility and committed drawdown-term facility to acquire the additional capital equipment required in the Company’s relocation and expansion.”

Francois Lemieux, Founder and President of Annexair, commented, “The A&M team was actively involved throughout our debt capital raise. Their professionalism ensured a comprehensive refinancing process that resulted in a tailor-made corporate financing package giving us the means to execute our growth strategy and business plan. We are very pleased with the outcome and appreciate the exceptional market knowledge and transaction support that A&M delivered.”

About Alvarez & Marsal
Companies, investors and government entities around the world turn to Alvarez & Marsal (A&M) when conventional approaches are not enough to make change and achieve results. Privately held since its founding in 1983, A&M is a leading global professional services firm that provides advisory, business performance improvement and turnaround management services.

With over 3000 people across four continents, we deliver tangible results for corporates, boards, private equity firms, law firms and government agencies facing complex challenges. Our senior leaders, and their teams, help organizations transform operations, catapult growth and accelerate results through decisive action. Comprised of experienced operators, world-class consultants, former regulators and industry authorities, A&M leverages its restructuring heritage to turn change into a strategic business asset, manage risk and unlock value at every stage of growth.

When action matters, find us at alvarezandmarsal.com. Follow A&M on LinkedInTwitter and Facebook. 

About Annexair
Headquartered in Drummondville, Quebec Annexair is a leading designer and manufacturer of premium quality, highly customized, energy-efficient, air handling systems for commercial and industrial applications. Having experienced significant recent growth, Annexair is in the midst of relocating its operations to a new, larger and more automated facility in St-Germain-de-Grantham, Quebec

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CONTACT:    

Hannah Arnold
LAK Public Relations, 212-575-4545

Sandra Sokoloff, Senior Director of Global Public Relations
Alvarez & Marsal, 212-763-9853