Dorel Industries completed the closing of its previously-announced new credit facilities with a group of lenders led by affiliates of TCW Asset Management as administrative agent in an amount of $310 million, and a private placement with Alberta Investment Management Corporation (AIMCo) of preferred shares in an amount of $75 million.
“Dorel is very pleased to complete these two transactions,” Martin Schwartz, president and CEO of Dorel, said. “The new credit facilities and the proceeds from the preferred shares will re-capitalize our balance sheet. Dorel is now well positioned to advance its strategic agenda, particularly in accelerating the growth of the Juvenile segment and executing the repositioning of the Home segment. We greatly appreciate the support of TCW and our other new lenders and of AIMCo.”
Dorel intends to use the proceeds from the new credit facilities and preferred shares to repay in full Dorel’s previous senior secured debt in an amount of approximately $180 million, to pay for the restructuring costs of Dorel’s Home segment and for working capital. The terms and conditions of the new credit facilities, preferred shares and related warrants to purchase Class B subordinate voting shares of Dorel are set out in Dorel’s press release of Sept. 22, 2025.
TD Securities acted as sole and exclusive financial advisor to Dorel in connection with the debt financing. TD Securities and BMO Capital Markets acted as Dorel’s placement agents in connection with the offering of preferred shares.
Fasken Martineau DuMoulin (Canada) and ArentFox Schiff (United States) acted as legal advisors to Dorel in connection with the debt financing and offering of preferred shares, McCarthy Tétrault (Canada) and Paul Hastings (United States) acted as legal advisors to TCW and the other lenders in connection with the debt financing, Stikeman Elliott acted as legal advisor to AIMCo in connection with the offering of preferred shares, and Torys acted as legal advisor to TD Securities and to BMO Capital Markets.
