Black Diamond Group Limited Announces Closing of Royal Camp Services Acquisition

Core Points - Black Diamond Group Limited has successfully completed the acquisition of Royal Camp Services Ltd for approximately $165.8 million, consisting of $150 million in cash and 1,377,911 common shares valued at $12.08 each [2][3] - The acquisition aligns with Black Diamond's long-term growth strategies and is expected to be highly accretive, with an anticipated Adjusted EBITDA for Royal between $31 million and $41 million over three years, excluding synergies [3] - Following the acquisition, Black Diamond will have nearly 12,000 rooms of capacity across Canada, enhancing its position as a premier integrated workforce accommodations and catering business [3] Company Overview - Black Diamond is a specialty rentals and industrial services company with two operating business units: Modular Space Solutions (MSS) and Workforce Solutions (WFS), operating in Canada, the United States, and Australia [4] - MSS operates through brands like BOXX Modular and CLM, providing a large rental fleet of modular buildings to various sectors including construction and government [5] - WFS offers a rental fleet of modular accommodation assets and includes LodgeLink, a digital marketplace for crew accommodation and logistics [6][7] Royal Camp Overview - Royal Camp has been a leading provider of remote accommodation and catering solutions in Western Canada since 1991, known for its modern structures and world-class catering [8] - The company operates Summit Camps, which provides integrated camp services in remote regions, primarily in British Columbia and the Yukon Territory [8] - Royal Camp has a long-standing partnership with Primco Dene, operating numerous camps in the Cold Lake and Christina Lake areas [9][10]