AirBoss Announces Acquisition of 100% Ownership of Airboss Defense Group - Seite 2

“In a relatively short time, ADG has emerged as a global leader in PPE and survivability solutions. We are excited to now transition as an investor in privately held ADG into a strategic shareholder in parent company AirBoss, with the opportunity to participate along with other shareholders in AirBoss’s overall results,” said Paul Murphy of Sentinel Capital Partners, majority owner of CSH, which is expected to own approximately 13% of AirBoss’s pro forma outstanding basic common shares following the transaction.

“While continuing to execute on its defense business, ADG has successfully responded to the global COVID-19 pandemic in 2020 through the supply of its FlexAir Powered Air Purifying Respirator systems to various government agencies,” said Chris Bitsakakis, President and Chief Operating Officer of AirBoss. “The prolific nature of the COVID-19 contracts in 2020 may or may not recur, but we continue to provide PPE for biological and chemical threats to both the military and health care markets during these challenging times. ADG continues to be positioned as an important driver of our overall business through its expanded survivability solutions product platform for both first responder and military applications.”

Related to the Transaction, Davies Ward Phillips & Vineberg LLP is providing legal counsel, with Hogan Lovells serving as US regulatory counsel. Kirkland & Ellis LLP is providing legal counsel to CSH, with Stikeman Elliott LLP serving as Canadian legal counsel.

AirBoss of America Corp.

AirBoss of America Corp. is a group of complementary businesses supplying custom compounded rubber, survivability solutions and anti-vibration components to a diverse group of customers globally. AirBoss Rubber Solutions is a top-tier North American custom rubber compounder with 450 million turn pounds of annual capacity. AirBoss Defense Group manufactures and supplies a growing array of Chemical, Biological, Radioactive, Nuclear and Explosive ("CBRN-E") protective solutions and is a leading provider of personal protective equipment to governments, militaries and frontline healthcare workers both in the U.S. and internationally. AirBoss Engineered Products is a supplier of innovative anti-vibration solutions to the North American automotive market. The Company’s shares trade on the TSX under the symbol BOS. Visit www.airbossofamerica.com for more information.