The sale of IBI Group’s operations in Quebec and a minority interest in IBI China to Lemay, a Montreal based architecture and design firm, was the result of a successful sale process run by Crosbie that included a targeted global search of strategic buyers. The transaction divested an asset that was non-core to IBI’s strategy and allowed IBI to reduce its outstanding credit facility.
About the Company
IBI Group is a TSX-listed globally integrated architecture, planning, engineering and technology firm with over 2,200 professionals around the world. IBI is one of the largest architecture firms in the world.
We were retained to help the company and its board of directors review strategic options as part of a broader Recovery Program that was being implemented by the company’s new management team. As a result of the strategic options review, Crosbie was tasked with developing and executing a capital markets plan to raise capital in order to reduce the company’s debt load. Crosbie lead a number of initiatives in parallel that culminated in the successful sale of the business in Quebec, allowing the company to reduce its debt outstanding and also renegotiate and amend its senior credit facility.