Groupe LAR inc. et al., a Métabetchouan, Québec-based designer, fabricator, and installer of large-scale hydromechanical steel structures and custom overhead crane systems, obtained CCAA protection on September 5.

Founded in 1942, Groupe LAR has established itself as one of the leaders in the fabrication and installation of complex steel structures for marquee hydroelectric, mining and industrial projects across Canada, the US and abroad.

Despite a strong order book and ongoing projects, Groupe LAR faced significant financial challenges and a liquidity crisis stemming from cost overruns on an important project.

At the time of filing, Groupe LAR's outstanding debt exceeded $50 million, with its principal secured creditors being Desjardins, Investissement Québec and Intact. 

In April 2024, the company engaged PwC Corporate Finance to conduct a SISP, resulting in an offer from Groupe ADF which is structured as an RVO.

The purpose of the CCAA proceedings is to implement the pre-negotiated transaction.

PwC is the monitor.

Counsel is Norton Rose Fulbright for Groupe LAR, McCarthy Tétrault for the monitor, Fasken for ADF, Cain Lamarre for Desjardins, and Stein Monast for Investissement Québec.