|Date Announced:||December 23, 2014|
|Client Name:||Newalta Corporation|
On February 27, 2015, Calgary-based Newalta Corporation (Newalta) completed the sale of its Industrial Division to Revolution Acquisition LP (Revolution), a subsidiary of Toronto-based Birch Hill Equity Partners Management Inc. (Birch Hill), for cash proceeds of $300 million. The Industrial Division is comprised of several business streams including major facilities and assets located across Canada. The sale creates a new stand-alone company, Terrapure Environmental, which has its headquarters in Burlington, Ontario.
Newalta was represented in-house by Took Whiteley (Senior Vice President, Business Development and General Counsel), Karlena Lewis (Associate General Counsel) and Heather Grab (Corporate Counsel), and by the Calgary office of Bennett Jones LLP, with a team led by Vivek Warrier (M&A) and consisting of Kieran Ryan and Adam Scrivens (M&A), Beth Riley (Competition), Susan Seller (Pensions), John Batzel (Employment), Greg Johnson (Tax) and Denise Bright (Banking).