Valcourt, Québec, April 17, 2013– BRP Inc. (“BRP” or the “Company”) filed today a preliminary prospectus with the securities regulatory authorities in each of the provinces and territories of Canada in connection with a proposed initial public offering of its subordinate voting shares. A copy of the preliminary prospectus will be available on SEDAR (www.sedar.com).
The offering is being made through a syndicate of underwriters led by BMO Capital Markets, RBC Capital Markets, UBS Securities Canada Inc. and Citigroup Global Markets Canada Inc.
No securities regulatory authority has either approved or disapproved of the contents of this press release. This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Company in any jurisdiction in which such offer, solicitation of sale would be unlawful. These securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any U.S. state securities laws and may not be offered or sold in the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws or pursuant to an exemption therefrom.
In its comments to The Canadian Press, BRP said that more information will be available in the coming weeks.
According to the prospectus, BRP employs a global workforce of about 6,800 and sells products in 105 countries through about 4,200 dealers. There are 985 BRP powersports dealers in the U.S. and Canada.
BRP’s fiscal 2013 year ended Jan. 31. Compared to the fiscal year before, revenue increased 9.2 percent to a record CA$2.9 billion. Net income increased by 44.9 percent to CA$121 million. As of Jan. 31 the company’s cash stood at CA$542 million and its long-term debt at about CA$1 billion.
BRP assigned its 2013 revenue from the following categories:
- Snowmobile and PWC, 36 percent,
- ATV, SSV and Roadster, 36 percent (Can-Am Outlander 1000 X mr ATV, Can-Am Commander and Can-Am Maverick)
- Rotax outboard engines, 12 percent, and
- Parts and accessories, 16 percent.
BRP said that 43 percent of its fiscal 2013 revenue came from the United States, 22 percent from Canada, and 35 percent from all other countries in which BRP does business.
BRP is a global leader in the design, development, manufacturing, distribution and marketing of powersports vehicles. Distributed in 105 countries, its portfolio of brands and products includes Ski-Doo and Lynx snowmobiles, Sea‑Doo watercraft, Can-Am all‑terrain and side-by-side vehicles, Spyder roadsters, Evinrude outboard engines, as well as Rotax propulsion systems.BRP employs approximately 6,800 people worldwide.
Sea-Doo, Ski-Doo, Spyder, Lynx, Evinrude, Can-Am, Rotax and the BRP logo are trademarks of Bombardier Recreational Products Inc. (a subsidiary of the Company) or its affiliates.
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