Clearview Capital to buy siding and roofing manufacturer Novik for $45 mln

Novik Inc (TSXV: NVK), a designer, manufacturer and distributor of polymer exterior siding, roofing coverings and accessories, has agreed to be acquired by U.S. private equity firm Clearview Capital. The proposed acquisition price is $0.85 per share, or a total cash consideration of approximately $45 million, including the assumption of debt. It is anticipated that the transaction shall proceed by way of a court approved plan of arrangement pursuant to the Business Corporation Act (Québec). Founded in 2004, Novik is based in Saint-Augustin-de-Desmaures, Québec.

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