HÉROUX-DEVTEK ANNOUNCES COMPLETION OF ACQUISITION BY PLATINUM EQUITY

Canada NewsWire

LONGUEUIL, QC, Feb. 11, 2025

LONGUEUIL, QC, Feb. 11, 2025 /CNW/ - Héroux-Devtek Inc. (TSX: HRX) ("Héroux-Devtek" or the "Corporation"), a leading international manufacturer of aerospace products and the world's third-largest landing gear manufacturer, today announced the completion of the previously announced plan of arrangement under the provisions of the Business Corporations Act (Québec) involving Héroux-Devtek and an affiliate (the "Purchaser") of Platinum Equity Advisors, LLC, pursuant to which the Purchaser has acquired, directly or indirectly, all the issued and outstanding common shares of the Corporation (the "Shares") for $32.50 in cash per Share (the "Arrangement").

As part of the Arrangement, members of senior management of the Corporation, including Gilles Labbé, Executive Chairman of the Board, and Martin Brassard, President and Chief Executive Officer, rolled over a portion of their Shares in exchange for shares in the capital of the Purchaser's parent company.

Consideration for the Shares has been remitted by the Purchaser to Computershare Investor Services Inc., as depositary under the Arrangement, and will be paid to former shareholders of Héroux--Devtek as soon as reasonably practicable after the date hereof (or, in the case of registered shareholders, as soon as reasonably practicable after a properly completed and signed letter of transmittal is received by the depositary together with the share certificate(s) and/or DRS Advice(s) representing Shares formerly held by them).

As a result of the completion of the Arrangement, the Shares will be de-listed from the Toronto Stock Exchange by February 13, 2025 and Héroux-Devtek will apply to cease to be a reporting issuer under Canadian securities laws in all provinces and territories of Canada.

EARLY WARNING REPORTING

Immediately prior to the effective date of the Arrangement, the Purchaser and its subsidiaries did not own any Shares. An early warning report will be filed on SEDAR+ at www.sedarplus.ca under the Corporation's profile. Further information and/or a copy of the early warning report may be obtained from the contacts below. The Purchaser's head office is located at 360 N. Crescent Drive, Beverly Hills, CA 90210.

ABOUT HÉROUX-DEVTEK

Héroux-Devtek Inc. (TSX: HRX) is an international company specializing in the design, development, manufacture, repair and overhaul of aircraft landing gear, hydraulic and electromechanical actuators, custom ball screws and fracture-critical components for the Aerospace market. The Corporation is the third-largest landing gear company worldwide, supplying both the defence and commercial sectors. Approximately 94% of the Corporation's sales are outside of Canada, including about 57% in the United States. The Corporation's head office is located in Longueuil, Québec with facilities in Canada, the United States, the United Kingdom and Spain.

SOURCE Héroux-Devtek

View original content: http://www.newswire.ca/en/releases/archive/February2025/11/c8646.html

/CONTACT:

Héroux-Devtek Inc.: Stéphane Arsenault, Vice President and Chief Financial Officer, Tel.: 450-679-3330, IR@herouxdevtek.com; Media Relations: Hugo Delorme, Mercure Conseil, Tel.: 514-700-5550 ext. 555, hdelorme@mercureconseil.ca

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February 11, 2025 12:59 ET (17:59 GMT)