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TORONTO, March 1, 2022 /CNW/ – Andlauer Healthcare Group Inc. (TSX:AND) (“AHG” or the “Company“) today announced that it has closed its previously announced acquisition (the “Acquisition“) of 100% of Logistics Support Unit (LSU) Inc. (“LSU“).
The purchase price for LSU was approximately $30 million (subject to customary purchase price adjustments) and was satisfied through the issuance of 154,639 subordinate voting shares and cash of approximately $22.5 million. AHG financed the cash portion of the purchase price for the Acquisition through a combination of cash on hand and by drawing on the Company’s credit facilities.
Established in 2008, LSU is a third-party logistics provider offering specialty pharmacy, warehousing, distribution and order management services throughout Canada to national and international companies as well as government clients in the pharmaceutical, medical and biotechnology sectors. LSU is also the exclusive distributor of immunizing agents for the Québec public health system.
“We are thrilled to officially be welcoming the LSU team to Andlauer Healthcare Group”, stated Michael AndlauerChief Executive Officer of AHG.
“We’re proud to be joining the Andlauer team,” stated Johanne BissonnettePresident of LSU. “We look forward to continued growth as a new member of the highly regarded AHG platform.”
Advisors
Goodmans LLP acted as legal counsel to AHG, and JGW Business and Tax Law Inc. acted as legal counsel to LSU
About LSU
LSU is a first class provider of third-party logistics (“3PL”) services exclusively for the pharmaceutical, medical and biotechnology sectors and is also an exclusive distributor of immunizing agents for the Québec public health system.
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