Black Diamond Announces Strategic Acquisition of Royal Camp Services

Torys is acting as counsel to Black Diamond with a team that includes Scott Cochlan, Janan Paskaran, Tanis Makowsky, Aleem Merali, Chiara Lasquety, Charlotte Hardwicke-Brown and Olivier Organowski (corporate/M&A), Omar Wakil, Ian Li and Robin Asgari (competition), Tom Stevenson and Parker Baglole (employment), Ed Fan and Mavra Chaudhury (IP and privacy), Tyson Dyck and Caroline Marful (environmental), Andrew Bedford and Laura Parvan (real estate) and Craig Maurice (tax).

On September 22, 2025, Black Diamond Group Limited (“Black Diamond”) announced it entered into a definitive share purchase agreement to acquire all of the issued and outstanding shares of Royal Camp Services Ltd. (“Royal”) for C$165 million, subject to adjustment.

Under the terms of the share purchase agreement, the purchase price is payable in cash, or a combination of cash and up to 4 million common shares of Black Diamond at C$12.08 per share. The cash portion of the purchase price will be drawn from Black Diamond’s asset-based credit facility.

Closing of the transaction is expected to take place by the end of 2025, subject to the satisfaction of certain regulatory approvals, including but not limited to clearance under the Competition Act (Canada).

Further information can be found on Globe Newswire’s website.

Black Diamond is a leading provider of workforce accommodation, modular buildings, energy services, and full turnkey lodging and major project solutions including planning and management, logistics, and catering to customers in Canada, the United States and Australia.

Royal Camp is Western Canada’s premier remote accommodation and catering solution. It offers its customers modern structures, turnkey solutions, world-class catering and unsurpassed amenities.