All In The Family

In what was little shock to industry insiders, the Bombardier family took a key role in the purchase of the division from the parent company.
Members of the Bombardier family, with help from two major outside sources, paid a cool $1.225 billion (Canadian) for the division, which includes Ski-Doo, Sea-Doo and Traxter. They beat out the next-closest bidder by $225 million (Canadian). The way it works out in the end is that Bain Capital will control 50 percent of the division, the Bombardiers will control 35 percent and Caisse de Depot et Placement du Quebec will control 15 percent.
The sale is still pending some final documentation and government approval, but is set to be completed soon.
“With the sale of our recreational products business, we have decided our core activity going forward is planes and trains,” said Paul M. Tellier, Bombardier president and chief executive officer. The sale of the Recreational Products division will help finance the ailing transportation divisions.