Latham Advises on Boyd Group Services Inc.’s US$780 Million Bought Deal IPO in the US

Boyd Group Services Inc. (TSX: BYD) has announced that it has entered into an agreement with a syndicate of underwriters led by RBC Capital Markets, CIBC Capital Markets, National Bank Capital Markets, and TD Securities Inc. (collectively, the underwriters), pursuant to which the underwriters have agreed to purchase, on a bought deal basis, 5.53 million common shares of BGSI at a price of US$141.00 per share, for gross proceeds of approximately US$780 million. The common shares will be offered to the public in Canada and the United States, representing BGSI's initial public offering in the United States. In connection with the initial public offering in the United States, BGSI has been approved to list its common shares on the New York Stock Exchange (NYSE) under the symbol "BGSI." Trading of BGSI's common shares is expected to commence on the NYSE on October 31, 2025. BGSI's common shares will continue to trade on the Toronto Stock Exchange under the symbol "BYD."

BGSI intends to use the net proceeds from the offering to partially fund the acquisition of Joe Hudson's Collision Center, a provider of automotive collision repair services, the details of which were separately announced today by the company. The offering is expected to close on or about November 4, 2025, subject to customary closing conditions. Additionally, the company has granted the underwriters an option to purchase up to an additional 829,800 common shares at the offering price for potential additional gross proceeds to BGSI of approximately US$117 million.

Latham & Watkins LLP represented the underwriters in the offering with a Capital Markets team led by partners Marc Jaffe and Adam Gelardi, with associates Kathleen Mehary, Emma Gilmore, and with assistance from Olivia Wagner. Advice was also provided on tax matters by partner Andrea Ramezan-Jackson, with associate Tessa Young.