Deals

Bach-Simpson Corporation (subsidiary of Global Railway Industries Ltd.)

Completion Date
August 2010

Transaction Type
Company Sale

Transaction Value
$13 million

Lead Partner
Blair Roblin
Telephone +1 416 214 1040

Background
Solaris Capital Advisors acted as exclusive financial advisor to Global Railway Industries Ltd. ("Global" or the “Company”) in the sale of the business and substantially all of the assets and liabilities of its subsidiary, Bach-Simpson Corporation, to Wabtec Corporation (NYSE: WAB). This transaction represents the second mandate Solaris has completed for Global (the first being the sale of G&B Specialties, Inc. in July 2010).

What Difference Did We Make?
Solaris was engaged by a Special Committee of the Board of Directors of Global to assist the Company in assessing strategic options. Publicly traded (TSX: GBI) Global had been in default under its credit facilities. Solaris conducted a thorough process to identify and market Bach-Simpson to prospective purchasers. Proceeds from the transaction have been utilized to repay the Company's bank loans.