Savaria (Sweden) AB made an offer to acquire Handicare Group AB (publ) (OM:HANDI) from Cidron Liberty Systems S.à R.L, Nordic Capital VII, L.P., fund managed by Nordic Capital and others for SEK 2.9 billion on January 27, 2021. Under the terms of transaction, Savaria recommended cash offer to acquire all the issued and outstanding shares of Handicare Group for SEK 50 per share, representing a total consideration to Handicare shareholders of SEK 2.9 billion and a total enterprise value (including leases) of SEK 3.4 billion represents a 12.1x multiple of Handicare’s preliminary 2020 adjusted EBITDA. The price of the Offer is final and will not be increased. Transaction is intended to be funded through a combination of Savaria’s new credit facilities of CAD 600 million (SEK 3.9 billion), including an equity bridge of CAD 200 million (SEK 1.3 billion), and CAD 160 million (SEK 1.045 billion) private placements of subscription receipts (at a price of CAD 15 (SEK 98.0535) per subscription receipt). As of January 28, 2021 the underwriters have agreed to purchase additional 0.47 million subscription rights, resulting in an upsized offering. In connection with the Upsized Offering, the Caisse de dépôt et placement du Québec (“CDPQ”), which has previously agreed to concurrently purchase Subscription Receipts on a private placement basis, has agreed to exercise its over-allotment option in connection with such private placement such that CDPQ shall purchase, concurrently with the Upsized Offering, for aggregate gross proceeds of approximately SEK 450 million(CAD 69 million) and as a result the gross proceeds will amount to SEK 1.2 billion(approximately CAD 190 million). Three members of Handicare's Board (the chairman Lars Marcher, Joakim Andreasson and Johan Ek) are not independent in relation to Nordic Capital Fund VII. Considering the contractual arrangements between Savaria and Nordic Capital Fund VII, these directors have not participated, and will not participate, in Handicare's handling and evaluation of the Offer. Cidron has given support for the offer. Transaction is subject to customary closing conditions, including Offer being accepted to such extent that Savaria becomes the owner of shares representing more than 90% of the total number of outstanding shares in Handicare and other regulatory conditions. The Offer will not be completed at a lower level of acceptance. The board of Handicare has confirmed to Savaria that it has unanimously decided to recommend that Handicare’s shareholders accept the Offer. The recommendation is supported by an opinion from PWC Sverige according to which the Offer is fair to Handicare’s shareholders from a financial point of view. As on February 10, 2021, the Swedish Financial Supervisory Authority approved this offer. The largest shareholder of Handicare, Cidron Liberty Systems S.à r.l., holding 62.9% of the shares and votes in Handicare, has informed Savaria that it supports the offer and intends to accept the Offer. As on February 4, 2021, Savaria (Sweden) AB entered into an agreement to acquire 62.9% stake in Handicare Group AB from Cidron Liberty Systems S.à R.L. Nordic Capital Fund VII will enter into an undertaking to that effect once Handicare has announced its year-end report 2020 on February 4, 2021, in light of the currently applicable restrictions under the EU Market Abuse Regulation. Furthermore, Nordic Capital Fund VII has undertaken towards Savaria not to sell its shares in Handicare without Savaria’s prior approval. The undertaking to not sell its shares applies until May 31, 2021 and will terminate upon the entering into of an irrevocable undertaking to accept the Offer. The acceptance period of the Offer is expected to commence on or around February 11, 2021 and expire on or around March 4, 2021, subject to any extensions. If successful, the Offer is expected to be completed before the end of April 2021. The acceptance period of the offer will open on February 11, 2021 and end on March 4, 2021. Provided that the Offer is successful, the acquisition will be immediately accretive to Savaria’s pro forma combined 2020 free cash flow per share, with accretion increasing to over 20% when including the expected transaction run-rate synergies. As on February 10, 2021, the offer period commenced. The acceptance period of the Offer will open on February 11, 2021 and end on March 4, 2021. National Bank Financial Inc. is acting as financial advisor and Ola Åhman, Mattias Friberg, Fredrik Olsson, Peter Forsberg and Jenny Lundberg of Hannes Snellman Attorneys Ltd. is acting as legal counsel to Savaria on the acquisition. Handicare has retained Rothschild & Co as financial adviser and Mannheimer Swartling as legal adviser in relation to the Offer. Jon Walberg and Stefan Torstensson of PricewaterhouseCoopers AB provided fairness opinion to the independent board committee of Handicare. As of March 4, 2021, the Offer had been accepted by shareholders representing 56 million shares in Handicare, corresponding to 95.2%.Since shareholders representing more than 90% of the shares in Handicare have accepted the Offer, Savaria (Sweden) hereby announces that all conditions for completion of the Offer have been fulfilled. Accordingly, the Offer is declared unconditional in all respects and Savaria (Sweden) will complete the acquisition of the shares tendered in the Offer. Settlement of the shares tendered in the Offer up until March 4, 2021 will commence on March 11, 2021. Savaria (Sweden) has initiated compulsory redemption of the remaining shares. Remaining shareholders in Handicare are hereby granted an extended acceptance period allowing those shareholders of Handicare to accept the Offer until March 18, 2021. Savaria (Sweden) AB completed the acquisition of Handicare Group AB (publ) (OM:HANDI) from Cidron Liberty Systems S.à R.L, Nordic Capital VII, L.P., fund managed by Nordic Capital and others on March 18, 2021. Savaria (Sweden) now owns a total of 56,219,509 shares in Handicare, corresponding to approximately 95.4% of the total number of shares and votes in Handicare. Settlement of the shares tendered in the Offer during the extension of the acceptance period is expected to commence on or around March 25, 2021. Last day of trading in Handicare's shares will be March 26, 2021.