Arsenal And Seal For Life Announce Acquisition Of Canusa - PR Newswire - PRF - Wed Dec 23, 2:32PM CST
PR Newswire - PRF - CMTX
Wed Dec 23, 2:32PM CST
, /PRNewswire/ --Â Arsenal Capital Partners ("Arsenal"), a private equity firm that invests in middle-market specialty industrials and healthcare companies, announced today that its coatings platform, Seal For Life Industries ("Seal For Life"), has acquired the Canusa-CPS and Dhatec businesses ("Canusa" or "Company") from Shawcor (TSX: SCL-T).
Shawcor Announces the Sale of its Products Business - GlobeNewswire - Wed Dec 23, 2:17PM CST
GlobeNewswire - CMTX
Wed Dec 23, 2:17PM CST
Shawcor Ltd. ("Shawcor" or the "Company") (TSX: SCL) today announced the sale of its Pipeline Performance Products business (the "Products business") to Seal For Life Industries ("Seal For Life"), a platform of Arsenal Capital Partners, a private equity investment firm based out of New York. The purchase price was USD $91.5 million, subject to working capital adjustments.
Shawcor Announces Term Sheet to Amend Its Credit Facility - GlobeNewswire - Thu Jun 25, 7:28AM CDT
GlobeNewswire - CMTX
Thu Jun 25, 7:28AM CDT
Shawcor Ltd. (TSX: SCL) announced today that the co-lead arrangers of its banking syndicate (The Toronto-Dominion Bank and National Bank of Canada) have agreed to a term sheet to provide financial covenant relief under Shawcor's credit facility until the end of the first fiscal quarter of 2022. The term sheet has been provided to the rest of the banking syndicate for their approval. It is expected that the amendment to the credit facility will be in place before the end of July 2020. In the interim, all lenders in Shawcor's banking syndicate have waived compliance with the leverage and interest coverage ratios under the credit facility for Shawcor's second fiscal quarter ending June 30, 2020 should Shawcor be in default thereof.