Ergoresearch Ltd. said its shareholders approved a deal for the company to be taken private by an entity controlled by Sylvain Boucher and Danielle Boucher, in partnership with Walter Capital Partners Inc.
Under the deal, 9332073 Canada Inc., controlled by Ergoresearch President and CEO Sylvain Boucher and Vice President Danielle Boucher in partnership with private equity firm Walter Capital, will buy all outstanding shares of Ergoresearch for 30 Canadian cents per share in cash.
Sylvain Boucher will remain president and CEO of the company, which will continue to be headquartered in Laval, Quebec.
The deal was approved by 87.4% of the votes cast by shareholders and by 81.6% of the votes cast by shareholders other than interested shareholders at a special meeting of shareholders held Feb. 16.
Ergoresearch designs and manufactures technologies for the orthopedic industry.