Héroux-Devtek announces completion of acquisition by Platinum Equity

Héroux-Devtek Inc., a leading international manufacturer of aerospace products and the world's third-largest landing gear manufacturer, today announced the completion of the previously announced plan of arrangement under the provisions of the Business Corporations Act (Québec) involving Héroux-Devtek and an affiliate of Platinum Equity Advisors, LLC, pursuant to which the Purchaser has acquired, directly or indirectly, all the issued and outstanding common shares of the Corporation for $32.50 in cash per Share.

As part of the Arrangement, members of senior management of the Corporation, including Gilles Labbé, Executive Chairman of the Board, and Martin Brassard, President and Chief Executive Officer, rolled over a portion of their Shares in exchange for shares in the capital of the Purchaser's parent company.

Consideration for the Shares has been remitted by the Purchaser to Computershare Investor Services Inc., as depositary under the Arrangement, and will be paid to former shareholders of Héroux‑Devtek as soon as reasonably practicable after the date hereof (or, in the case of registered shareholders, as soon as reasonably practicable after a properly completed and signed letter of transmittal is received by the depositary together with the share certificate(s) and/or DRS Advice(s) representing Shares formerly held by them).

As a result of the completion of the Arrangement, the Shares will be de-listed from the Toronto Stock Exchange by February 13, 2025 and Héroux-Devtek will apply to cease to be a reporting issuer under Canadian securities laws in all provinces and territories of Canada.