American Industrial Partners Fund to Take Boart Longyear Private

American Industrial Partners Capital Fund agrees to buy Boart Longyear in a deal which values the Australian firm at about $371m.

• American Industrial Partners to offer $1.9554/share cash for Boart Longyear
  • Boart board unanimously recommends shareholders vote in favor of the transaction
  • The company’s five largest holders, Centerbridge, Ascribe, First Pacific, Corre and Nut Tree, who hold 98.86% of shares, will back proposal
  • Ascribe and Centerbridge will get $1.2351/shr cash for each Boart share
• Deal expected to be completed in 1Q 2024
• Boart names Goldman Sachs as financial adviser, Osler as Canadian legal adviser and Ashurst Australia as Australian legal ...