Parties
Company
A&D Prévost Inc.
Company
ADP Façades Inc.
Company
Deloitte Restructuring Inc.
Company
Fiera FP Business Financing Fund, L.P.
Company
Fiera Private Debt Fund V LP
Company
Fiera Private Debt Fund VI LP
Bank
TD Bank
Government
Investissement Québec
Company
Metra Aluminium Inc.
Company
Brosseau Verre Concept Inc.
Company
Les Machineries Haffner Inc.
Company
Location Thomas Inc.
On May 17, 2024, Québec-based window and door manufacturers A & D Prévost inc. and ADP Façades inc. filed a Notice of Intention (NOI) to make a proposal. Prévost employed approximately 223 workers, with 116 at its Richelieu factory. The companies reported significant liabilities, with Prévost listing around $31.7 million and Façades approximately $21.6 million. Both firms owed about $15 million to Fiera. Their financial difficulties were attributed to pandemic-induced issues, including start-up problems at the St. Hyachinthe plant, raw material supply issues, particularly with glass, which led to delivery delays and contractual penalties, and a sharp increase in aluminum costs impacting fixed-price contracts.
Deloitte acted as the proposal trustee, while FAAN was appointed as the Chief Restructuring Officer (CRO). Legal advisors included Miller Thomson for the companies, Norton Rose Fulbright for the proposal trustee, Fasken for Fiera, Kaufman Avocats for TD Bank, Gowling WLG for IQ, McCarthy Tétrault for Metra Aluminium, and BMA Avocats for Brosseau Verre Concept.
Deal Type
OtherIndustry
OtherTransaction
Undisclosed/ConfidentialDeal Status
ActiveClosing Date