Position the activity for accelerated long-term growth
TORONTO, September 20, 2021 / PRNewswire / – Array Canada, Inc. (“Array”), the market leader in end-to-end in-store merchandising solutions, today announced the successful completion of a refinancing transaction that has significantly strengthened the company balance sheet and positioned the company for accelerated growth. The transaction was facilitated by a substantial new investment from leading global investment firms, including funds managed by Oaktree Capital Management, LP (“Oaktree”) and existing investor Array, Carlyle.
As a result of the transaction, Array has significant liquidity to capitalize on attractive growth opportunities, outstanding net debt has been reduced by more than 50% and term loan maturities have been extended until 2026. .
“We are delighted to partner with new investors and Carlyle to strengthen Array’s balance sheet and ensure that our company is best positioned to identify and exploit the global growth opportunities that we see on the near term horizon, ”said Jeffrey K. Casselman, President and CEO of Array. “Our business is stronger than ever and we look forward to continuing to enable our global customer base to shape the future of retail.”
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Array is the global leader in in-store merchandising services, solutions and experiences for many of the world’s most iconic retailers and brands. For more than 40 years, Array customers have benefited from an unparalleled experience with Array’s creative solutions, global reach, sustainability leadership and exceptional customer service. In short, Array creates amazing retail experiences. Array is headquartered at Toronto, Canada and employs over 1,800 employees with operations in Canada, United States, Mexico, China, Singapore, Poland, UK, France and Germany.
Oaktree is a leader among global investment managers specializing in alternative investments, with 156 billion dollars in assets under management at June 30, 2021. The company emphasizes an opportunistic, value-driven, risk-controlled approach to investments in credit, private equity, real assets and listed equities. The company has more than 1,000 employees and offices in 19 cities around the world. For more information, please visit the Oaktree website at http://www.oaktreecapital.com.
SOURCE Array Canada Inc.