Boyd Group Services Inc. completes bought deal financing totaling over $231 million

Counsel to CIBC Capital Markets, Cormark Securities Inc., Goldman Sachs and National Bank Financial Inc.

Lead by

On May 14, 2020, Boyd Group Services Inc. (TSX:BYD) announced the completion of a bought deal financing consisting of 1,100,000 shares at a price of $183.00 per share. The offering was led by CIBC Capital Markets, Cormark Securities Inc., Goldman Sachs and National Bank Financial Inc., acting as co-leads and joint bookrunners, on behalf of a syndicate of underwriters in this transaction (collectively, the “Underwriters”). The Underwriters exercised their over-allotment option in full, acquiring an additional 165,000 shares, which increased the amount of gross proceeds totaling to $231,495,000.

Boyd Group Services Inc. is a Canadian corporation and controls The Boyd Group Inc., one of the largest operators of non-franchised collision repair centres in North America, and its subsidiaries.

Miller Thomson advised CIBC Capital Markets, Cormark Securities Inc., Goldman Sachs and National Bank Financial Inc. in this transaction with a team led by Lawrence Wilder (Capital Markets & Securities), and comprised of Tom Koutoulakis, Abid Ahmed and Desmond Christy (Capital Markets & Securities); Ken Rosenstein and Amanda Plastina (Financial Services); and Ron Choudhury (Corporate Tax).

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