Friday, June 13, 2008

Brookfield Buys Maax for $225 Million Plus in Debt

The Canadian Press is reporting that bath manufacturer Maax is being acquired by Brookfield Bridge Lending Fund Inc., its senior lender, for the outstanding debt of $225 million plus.
It had been sold by the founder in 2004 for $640 million.
The third largest manufactuer of tubs, spas and showers in the United States, Maax lost $180 million on revenue of $411 million in 2007.

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