EDMONTON, Alta. — Link Suspensions of Canada has reached a deal to acquire Raydan Manufacturing, which produces the Air Link suspension among other products.
The deal is worth about $4.4 million in addition to the assumption of about $1.67 million in debt.
When the deal closes (expected to be in January 2012), Raydan will delist from the TSX Venture Exchange, the company announced.
As part of the deal, CEO Ray English as well as Dan and Chris English, will stay on with the company for a period of three years.
Shareholders will be invited to vote on the acquisition during a special meeting Jan. 10, 2012. Ray, Dan and Chris English hold about 35% of the shares in the company and are urging remaining shareholders to approve the deal.
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