FINALIST 2019

Frédéric Poisson joined BMO’s Corporate Finance Division in 2010. BMO Financial Group is the 8th largest bank by assets in North America.

BMO’s Corporate Finance Division provides entrepreneurs and companies with the means to achieve their ambitions, by offering a broad range of financial services, advisory and products across Canada and the United-States.

What makes the difference is having a passion for really helping your client.

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Highly experienced in structuring complex M&A transactions, Frédéric Poisson and his team helped Groupe Deschênes Inc. (GDI) make its largest ever acquisition with a fully underwritten debt financing commitment at the bid stage. In January of 2018, GDI successfully closed on the acquisition of British Columbia based Corix Water Products (CWP), the largest acquisition in the company’s history.

Based in Montréal, GDI is the largest Canadian wholesale distributor of plumbing, heating, electrical, water and sewage system products. The purchase of CWP, which then had 55 branches, allowed GDI to significantly increase its presence in Western Canada and in the United States, as well as in the water and sewage system market.

Today, GDI operates a network of 186 branches. The integration of CWP was such a resounding success that GDI is now well positioned to make further acquisitions.

A complex transaction

Frédéric Poisson and his team greatly contributed to this success.

The financing for this transaction was complex because it involved a significant bank underwriting in a short period of time, introducing GDI to the syndicated bank market, the refinancing of 10 separate credit agreements with 4 financial institutions, registration of security across multiple provinces and US states, as well as coordinating subordinated debt financing with the Fonds de Solidarité FTQ.

Moreover, BMO provided a complete cross-border treasury management solution to properly integrate CWP’s significant US operations.