Bombardier sells Ski-Doo division

Bombardier Inc. has sold its recreational unit to a group headed by the Bombardier family for $1.2 billion. The division that makes Ski-Doo snowmobiles and Sea-Doo personal watercraft earned $172 million before tax on $2.5 billion in sales last year. According to a published report, the Bombardier family will take a 35% stake in the business. Bain Capital LLC, a U.S. equity firm, will take a 50% stake, while Caisse de depot et placement du Quebec will own the remaining 15%.
Bombardier president Paul Tellier called the sale "a major point in the evolution of the company". Tellier said the sale would strengthen the company’s balance sheet and improve cash flow.