GFI Solutions Group completes C$42.2 million acquisition of Fortsum Business Solutions
Date Closed
May 21, 2009
Lead Office
Montréal
Value
42.20 Million CAD
On May 21, 2009, GFI Solutions Group Inc. (“GFI”) acquired all of the issued and outstanding shares of Fortsum Business Solutions Inc. (“Fortsum”) for $0.82 in cash per share. The acquisition was funded in part through equity and debt financings and the remaining portion of the funding was paid by way of a loan granted by Fortsum to GFI.
GFI, headquartered in Montréal, Québec, is a leading Canadian IT consulting firm.
Fortsum, headquartered in Québec, is a company solidly entrenched in the business, accounting and banking solutions market.
McCarthy Tétrault LLP represented GFI, as acquirer, with a team that was led by Frederic Cotnoir, and included Laurent Gauthier, Eric Gosselin, and Richard O'Doherty.