The Ottawa Senators of the National Hockey League (NHL) has reached an agreement in principle (AIP) to purchase the team for close to US$1bn. Andlauer is set to purchase 90% and operational control of the team from the Melnyk family, who will retain a 10% interest in the club.
“The short and long-term future of the team is incredibly bright, and I look forward to getting to know the team, the fanbase and the community,” said Andlauer in an official statement.
Subject to approval by both the NHL and finalization of the sales process, Andlauer will assume control of the organization’s operations.
Andlauer has more than 35 years of experience in the transportation and logistics industry. He is the founder and Chief Executive Officer of Andlauer Healthcare Group Inc., a TSX-listed leading supply chain management company.
He is also the founder of Bulldog Capital Partners Inc. a Toronto-based merchant bank focused on private equity investments and advisory services. It has served as financial advisor during the acquisition process.