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On September 22, 2025, Black Diamond Group Limited (“Black Diamond”) announced it entered into a definitive share purchase agreement to acquire all of the issued and outstanding shares of Royal Camp Services Ltd. (“Royal”) for $165 million, subject to adjustment.
Under the terms of the share purchase agreement, the purchase price is payable in cash, or a combination of cash and up to 4 million common shares of Black Diamond at C$12.08 per share. The cash portion of the purchase price will be drawn from Black Diamond’s asset-based credit facility.
Torys is acting as counsel to Black Diamond with a team that includes Scott Cochlan, Janan Paskaran, Tanis Makowsky, Aleem Merali, Chiara Lasquety, Charlotte Hardwicke-Brown and Olivier Organowski (corporate/M&A), Omar Wakil, Ian Li and Robin Asgari (competition), Tom Stevenson and Parker Baglole (employment), Ed Fan and Mavra Chaudhury (IP and privacy), Tyson Dyck and Caroline Marful (environmental), Andrew Bedford and Laura Parvan (real estate) and Craig Maurice (tax).
The transaction closed on November 12, 2025.
Parties
Company
Black Diamond Group Limited
Company
Royal Camp Services Ltd.
Deal Type
Merger & AcquisitionIndustry
OtherTransaction
$ 165,000,000Deal Status
ClosedClosing Date
12 November 2025