LMT Completes Recapitalization

Calvert Street and portfolio company Groupe LMT (the “Company”) announced today the completion of a dividend recapitalization transaction.  National Bank of Canada provided the financing to support the transaction through an amendment to an existing lending facility.  Proceeds from the recapitalization were used to fund a significant return of capital to the Company’s shareholders.

Based in Quebec, Groupe LMT is a manufacturer of architectural steel doors and frames, as well as a value added distributor of wood doors and hardware. The Company provides single-source building entry solutions to the non-residential construction industry in Northeastern Canada.