GREENWICH, CT, March 9, 2016 /PRNewswire/ - Sagard Capital Partners, L.P., Sagard Capital Partners GP, Inc. and Sagard Capital Partners Management Corp. (collectively, "Sagard Capital") issue this press release pursuant to applicable requirements of Canadian securities legislation. Sagard Capital announces that, in a series of purchases today on the Toronto Stock Exchange and the New York Stock Exchange, it has acquired (the "Acquisition") a total of 1,950,215 common shares ("Shares") of Performance Sports Group Ltd. (the "Issuer") at a weighted average price of US$3.35 per Share (or approximately C$4.43 per Share), representing approximately 4.28% of the issued and outstanding Shares. As a result of the Acquisition, Sagard Capital beneficially owns and controls an aggregate of 6,211,288 Shares, representing approximately 13.63% of the issued and outstanding Shares.
Sagard Capital acquired the Shares for the purpose of holding a significant equity position in the Issuer and, in accordance with applicable securities laws, it may increase or decrease its investment in the Issuer depending on market conditions and other relevant factors. Sagard Capital presently expects to engage in communications with the Issuer, the board of directors of the Issuer, and/or one or more shareholders of the Issuer, to suggest that the Issuer nominate one or more representatives of Sagard Capital to the board of directors of the Issuer. Sagard Capital may also in the future take such other actions with respect to its investment in the Issuer as it deems appropriate.
Sagard Capital, a subsidiary of Power Corporation of Canada, is relying on section 5.2 of National Instrument 62-103 in respect of aggregation relief relating to any securities that may be held by Great-West Lifeco Inc. and its subsidiaries, IGM Financial Inc. and its subsidiaries, and any investment fund managed by entities within the Power Corporation of Canada group of companies.
About Sagard Capital
Sagard Capital Partners, L.P. is the direct owner of the Shares reported herein as being beneficially owned and over which control is shared by the entities comprising Sagard Capital. Sagard Capital Partners, L.P. is principally engaged in the business of investing in securities. Sagard Capital Partners GP, Inc. is the general partner of Sagard Capital Partners, L.P. Sagard Capital Partners Management Corp. is the investment manager of Sagard Capital Partners, L.P. Each entity comprising Sagard Capital is a subsidiary of Power Corporation of Canada.
Sagard Capital's strategy is to acquire significant minority or control positions in publicly traded small and mid-sized companies. It offers a unique and highly differentiated value proposition to companies looking for supportive, long-term shareholders. Based in Greenwich, Connecticut, Sagard Capital is an evergreen fund with an indefinite holding period for its investments. Sagard Capital is purpose-built to be an independent, flexible, supportive partner to management teams focused on building sustainable, leading businesses and generating long-term shareholder value.
SOURCE Sagard Capital Partners, L.P.