Simpson Thacher represented the underwriters, led by BMO Capital Markets, Citigroup, RBC Capital Markets and UBS Investment Bank, in connection with the initial public offering in the United States by BRP Inc. (“BRP”) of 8,700,000 subordinate voting shares. The subordinate voting shares began trading on the Nasdaq Global Select Market on September 14, 2018, under the ticker symbol “DOOO.” The offering in the United States was made in connection with a concurrent public offering in Canada where BRP trades on the Toronto Stock Exchange under the ticker symbol “DOO.”
Certain existing shareholders of BRP, including affiliates of the Beaudier Group and Bain Capital, sold all 8,700,000 subordinate voting shares in the offering for aggregate gross proceeds of approximately $409 million for the selling shareholders.
BRP is a global leader in the design, development, manufacturing, distribution and marketing of powersports vehicles and propulsion systems. BRP’s diversified portfolio of brands and products includes Can-Am ATVs, SSVs and Spyder vehicles, Ski-Doo and Lynx snowmobiles, Sea-Doo PWCs, Alumacraft and Manitou boats, and propulsion systems composed of Evinrude outboard boat engines and Rotax engines for jet boats, karts, motorcycles and recreational aircraft.
The Simpson Thacher team included Art Robinson, Jonathan Ozner and Clark Warthen (Capital Markets); Brian Mendick (Tax); Michael Isby (Environmental); Pasco Struhs (Executive Compensation and Employee Benefits); and Andrew Pagliughi (FINRA and Blue Sky).