Bain Capital sells C$136 million of BRP shares in secondary offering

VALCOURT, QC - BRP Inc. (TSX:DOO) (NASDAQ:DOOO), currently trading at $65.05 and showing impressive momentum with a 59% return over the past six months according to InvestingPro, announced Friday the completion of a previously announced secondary offering in which Bain Capital Integral Investors II, L.P. sold 1,500,000 subordinate voting shares at C$90.71 per share, generating gross proceeds of C$136,065,000.

The transaction was conducted as a bought deal offering through BMO Capital Markets, with no over-allotment option granted. All proceeds from the sale went directly to Bain Capital, with BRP receiving none of the funds from the transaction.

Following the offering, Bain Capital and its affiliates retain 10,496,629 multiple voting shares of BRP, representing approximately 14.35% of the company’s outstanding shares and 24.39% of total voting power.

The shares were offered through a prospectus supplement dated September 10, 2025, to BRP’s short form base shelf prospectus dated March 26, 2025, filed with Canadian provincial and territorial securities regulators and the U.S. Securities and Exchange Commission.

BRP, headquartered in Quebec, is a manufacturer of powersports products including Ski-Doo and Lynx snowmobiles, Sea-Doo watercraft, Can-Am vehicles, and Rotax engines. The company reported annual sales of $7.8 billion as of January 31, 2025.

BRP’s subordinate voting shares continue to trade on both the Toronto Stock Exchange and Nasdaq Global Select Market under the symbols "DOO" and "DOOO," respectively, according to the company’s press release statement.

In other recent news, BRP Inc. reported its second-quarter 2025 earnings, surpassing both earnings per share (EPS) and revenue forecasts. The company achieved an EPS of $0.92, which was a significant surprise compared to the forecasted $0.4613. Revenue for the quarter reached $1.9 billion, exceeding expectations by 6.18%. These results demonstrate strong performance for the company. Additionally, Bain Capital Integral Investors II, L.P. has decided to sell 1.5 million BRP shares in a secondary offering. This transaction, arranged with BMO Capital Markets, will reduce Bain Capital’s stake in BRP from approximately 16.4% to 14.4%. Consequently, Bain Capital’s voting power will decrease from 27.1% to 24.4%. These developments highlight important changes in BRP’s shareholder structure and financial performance.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.