Recent Experience
ZCL Composites Inc., in its approximately $312-million acquisition by Shawcor Ltd. by way of plan of arrangement.
The Standard Life Assurance Company of Canada, in a $74.75-million and $110.5-million acquisition financing to Aspen Properties (Edm) Limited Partnership in respect of the Oxford Tower and Bell Tower in Edmonton.
ALPAC Forest Products Inc., in a negotiation with the Government of Alberta (Sustainable Resource Development) of a 20-year extension of its forest management agreement that will allow ALPAC to manage and harvest logs within a geographical area in northeastern Alberta for its facility located near Athabasca, Alberta. The logs that will be harvested from this area, over the full 20-year term will be about 3,000,000 cubic meters per year which generates about 650,000 metric tonnes of pulp per year.
Cash N Go Ltd., in the sale of substantially all of its assets to Access Cash General Partnership. Cash N Go, which is based in Edmonton, Alberta, was one of the five largest non-bank ATM deployers in Canada. The five largest deployers control 50 percent of Canada's non-bank ATM market.
Agritrac Equipment Ltd., having annual revenues of $47,000,000, in the sale of substantially all of its assets to Rocky Mountain Dealerships Inc. (a TSX-listed company). Agritrac is a Case IH agricultural dealership with locations in Westlock, Vegreville and Barrhead, Alberta.
The Standard Life Assurance Company of Canada, in a $48,000,000 takeout financing (i.e. repay construction financing) to Brookfield Properties in respect of Bankers Court office tower in Calgary.
The Standard Life Assurance Company of Canada, in a $53,000,000 acquisition financing to Artis REIT in respect of two industrial properties in Acheson industrial park, one in Edmonton and one in Calgary.
The Standard Life Assurance Company of Canada, in a $131,000,000 and $11,000,000 acquisition financing to OMERS Realty Corporation in respect of the Southcentre Regional Mall and Southcentre Executive Tower in Calgary.
The Standard Life Assurance Company of Canada, the Great-West Life Assurance Company and The Toronto Dominion Bank in a $153,000,000 acquisition financing to Primaris REIT in respect of Sunridge Mall in Calgary.
Alberta Newsprint Company (ANC), in a negotiation with the Government of Alberta (Sustainable Resource Development) of a twenty year extension of its forest management agreement that will allow ANC to manage and harvest logs within a geographical area close to the size of Prince Edward Island, located northeast of Whitecourt, Alberta. The logs that will be harvested from this area over the full twenty year term would have a commercial value of approximately $750 million at current prices.
EBA Engineering Consultants Ltd. ("EBA") in the sale of all the shares of EBA's parent company, which were owned by 109 employee shareholders, to Tetra Tech, Inc., a U.S. based professional engineering firm, for an undisclosed amount.
ZCL Composites Inc., in a $40-million bought deal private placement of subscription receipts with an underwriting syndicate led by Peters & Co. Limited that also included CIBC World Markets, Paradigm Capital Inc., Raymond James Ltd., National Bank Financial Inc. and Orion Securities Inc.
Powell Industries, Inc. (NASDAQ: POWL), in the acquisition of substantially all the assets of PowerComm Inc. (TSX: PCG) that involved predominantly Canadian operation carried on by PowerComm, four subsidiaries and two further joint ventures, including business operations in Kazakhstan. The purchase price consisted of up to $33.5 million subject to adjustments, with $25.5 million payable on closing and up to $8 million payable based on specified performance and earn-out thresholds. Powell also assumed certain liabilities of PowerComm including bank debt, accounts payable and obligations under capital and other leases estimated to total approximately $22.5 million.
Selling shareholders, in a sale of all of the shares in the capital of Caribou Electric Inc. to a purchaser affiliated with Ainsworth Inc. and the purchaser's entering into a long term lease with a company owned by the selling shareholders.
Cherington Capital LLC, a private equity firm, in their divestiture for an undisclosed amount, of all of the Canadian, American and Portuguese assets of a Nisku and Calgary-based oil and gas service company, to a strategic American buyer.
The Standard Life Assurance Company of Canada, in a first mortgage loan of $42 million relating to the Glenmore Centre Business Park (Calgary, Alberta).
Preo Software Inc., in its reverse takeover of CDG Investments Inc. by way of a plan of arrangement and related CNQ listing application.
Cal Nichols (Chairman of the Edmonton Oilers Hockey Club) and his company in its disposition of its block of shares in the Edmonton Investors Group Holdings Ltd. (EIG) to Rexall Sports Corp. in its acquisition of 100 per cent of the issued and outstanding shares of EIG and the Edmonton Oilers Hockey Club.
United Diamond, LP and Ulterra Drilling Technologies, L.P., along with their private equity partner, Invervale Capital, in their acquisition for an undisclosed amount, of all of the Canadian and American assets of United Diamond, United Diamond Ltd., Torkbuster Inc., and United Diamond Drilling Services Inc.
The Standard Life Assurance Company of Canada, in a first mortgage loan of $160 million (being Standard Life's largest loan ever made in Canada) relating to Southland Park (Calgary, Alberta).
Kellam Pipelines Inc. and T.H.L. Equipment Rentals & Steaming Ltd., in the sale of shares and assets to Pipeworx Ltd. and its subsidiary 1347780 Alberta Ltd.
Foundation Equity Corporation, in the complex reorganization and recapitalization of ROAM I.T. (Canada) Holdings Inc. (a non-private issuer), by way of plan of arrangement involving the compromising of the interests of multiple classes of shareholders and creditors.
ZCL Composites Inc., in a new $20-million secured term credit facility from its general commercial banker, CIBC.
ZCL Composites Inc. (TSX: ZCL), in a share purchase agreement to acquire all of the issued and outstanding shares of Dualam Plastics Inc. that involved a total of 10 subsidiaries located in Canada, the United States, and Belize. The purchase price was $20.5 million, payable partly in cash and partly in shares, subject to closing adjustments, including adjustments for working capital and certain post-closing vendor indemnities.
ZCL Composites Inc. and its subsidiaries, in their US$40.8-million acquisition of Minnesota-based XAHC, Inc. the sole shareholder of Xerxes Corporation.
Brock White Company, in the acquisition of all of the assets of Manstar Distributors Ltd. for $16 million.
The Riverside Company, a private equity firm, in its portfolio company, Welltec A/S's acquisition of Heat Seekers Ltd. for $12.1 million.
The Riverside Company, a private equity firm, in its portfolio company, Welltech A/S's expansion of its US$28.7-million credit facility from HSH Nordbank AG by a further US$8.8 million to facilitate the acquisition of Heat Seekers Ltd.
Bennett Jones
