Cases & Deals

Solmax acquires TenCate Geosynthetics

Client(s) Groupe Solmax Inc.

Jones Day advised Groupe Solmax Inc. (Solmax), the global leader in the production of high-quality polyethylene geomembranes for industrial and environmental applications, and its shareholders (including institutional investors Caisse de dépot et placement du Québec and Fonds de Solidarité FTQ), in connection with Solmax’s acquisition of TenCate Geosynthetics Holding B.V., a global provider of geosynthetics and industrial fabrics, from Dutch conglomerate Koninklijke Ten Cate (Royal Ten Cate, the Netherlands), and advised on the related senior secured financing to support the acquisition. The senior secured credit facilities, consisting of initial term loans and revolving credit commitments, were arranged by Barclays Bank PLC and TD Securities (USA) LLC. In addition to financing the acquisition, the credit facilities refinanced Solmax’s existing credit facility and may be used for general corporate and working capital purposes. The credit facilities provide for credit support from material subsidiaries located in specified jurisdictions, among others, including Canada, the United States, the Netherlands, Austria, Germany, France, and Malaysia.