Roots Corporation

Underwriters in connection with the IPO of Roots Corporation on the TSX

Client

Underwriters

Value

-

Service

Capital Markets

Date Closed

October 2017

Industry

Retail & Consumer Products

Lead Office

Toronto

 

On October 25, 2017, Roots Corporation, an iconic Canadian brand, completed its initial public offering (IPO). The IPO was a 100% secondary offering of Roots’ common shares by investment funds managed by Searchlight Capital Partners, L.P. and an entity indirectly controlled by Michael Budman and Don Green, who founded Roots in 1973.

The IPO was co-led by TD Securities, Credit Suisse and BMO Capital Markets as representatives of the underwriters, together with Jefferies, RBC Capital Markets and Scotiabank, collectively as bookrunners. CIBC Capital Markets, Canaccord and National Bank Financial acted as co-managers.

Roots is a Toronto-based company with a rich heritage and portfolio of premium apparel, leather goods, accessories and footwear.

Osler, Hoskin & Harcourt LLP represented the underwriters with a team led by Desmond Lee and James Brown and including Blake Binions and Adriano Lepore (Corporate/Securities), Jason Comerford and Amma Anaman (US Securities) and Tim Hughes and David Davachi (Tax).