22 LEXPERT MAGAZINE
|
SEPTEMBER
/
OCTOBER 2018
BIG DEALS
Kathy Pybus (financial services) and Jeffrey
Sharpe (litigation).
Consumer Services Energy & Power Pipelines
Aerospace & Defence Automotive Materials
Utilities Financials Health Research
Media & Entertainment Recreation & Leisure Advertising & Marketing
E-Commerce Construction & Engineering
Consumer Staples
BANK LENDERS ARRANGE
EXPANDED $1.08 BILLION
CREDIT FACILITY
FOR AUTOCANADA
CLOSING DATE: APRIL 12, 2018
On April 12, 2018, a syndicate of bank lend-
ers closed a new expanded credit agreement
with AutoCanada Inc. (TSX: ACQ ), Can-
ada's largest multi-location automobile deal-
ership group by volume, providing secured
credit facilities up to $1.08 billion.
e three-year credit agreement increases
AutoCanada's borrowing capacity and pro-
vides $660 million for floorplan and lease
financing, $350 million for acquisitions and
capital expenditures as well as $70 million
for general corporate purposes. AutoCanada
used this credit facility to partially finance
its approximately $110 million acquisition
of Grossinger Auto Group in Illinois, which
closed on April 9, 2018.
e deal may serve as a precedent for future
deals as the automotive industry continues to
consolidate the auto franchise network.
e lenders (with e Bank of Nova Sco-
tia as Administrative Agent, Lead Arranger
and Sole Bookrunner and CIBC and RBC
as Syndication Agents) were advised by Mill-
er omson LLP with a team led by Nora
Osbaldeston and that included Keyvan Nas-
siry, Jonathan Dyck, Julianna Abdo, Nelly
Mosstaghimi-Tehrani, Geoffrey Marinange-
li and Shaun Parekh, among others. Miller
omson was assisted by Steven Christie and
Teddy Comeau of McInnes Cooper in New
Brunswick and Nova Scotia, Tim Dewart
and Keith Senden of Fillmore Riley LLP
in Manitoba and James Holman of Duane
Morris LLP in Illinois. Mallorie Smith and
Christina McSparron of Rutan & Tucker,
LLP in the US advised the lenders in connec-
tion with the Grossinger acquisition.
AutoCanada was advised by lead counsel
Maria Doerksen and Patrick Mah of Borden
Ladner Gervais LLP, assisted by Michael
Milani, QC, of McDougall Gauley LLP in
Saskatchewan, Kent Fast and Megan Kelly
of Fast Trippier Law in Manitoba, Charles
Reagh and Andrew McMackin of Stewart
McKelvey in New Brunswick and Nova
Scotia, and Chuck Boehrer of Winston &
Strawn LLP in the US.
ere were interlender arrangements with
Bank of America in the US on which Manley
Roberts of McGuire Woods LLP advised.
AutoCanada also completed a related
US$131-million floorplanning facility
done by Bank of America. Chuck Boehrer
of Winston & Strawn represented Auto-
Canada as Borrowers counsel and Manley
Roberts of Mcguire Woods represented
Bank of America.
Pipelines
Materials
Utilities Financials Health Research
Media & Entertainment Recreation & Leisure Advertising & Marketing
E-Commerce Construction & Engineering
Consumer Staples
GFL ENVIRONMENTAL INC.
ACQUIRES DEEP FOUNDATIONS
GROUP OF COMPANIES
CLOSING DATE: APRIL 1, 2018
On April 1, 2018, GFL Environmental Inc.
(GFL) completed the acquisition of the par-
ent of Deep Foundations Contractors Inc.
along with its subsidiary corporations (the
Deep Group).
For more than 45 years, the Deep Group
has delivered successful foundation piling
and shoring work for its clients on a wide
range of projects in Alberta, Saskatchewan,
Manitoba, Ontario, Quebec, New Bruns-
wick and Newfoundland. Client projects
have included the Children's Hospital of
Saskatchewan as well as the Bayview and
Avenue Stations on the Eglinton Crosstown
Light Rapid Transit project in Toronto.
e acquisition of the Deep Group will
complement GFL's existing shoring and
foundation capabilities.
(GFL also recently closed a recapitaliza-
tion deal with investors led by BC Partners
and Ontario Teachers' Pension Plan.)
Stikeman Elliott LLP acted for GFL un-
der the direction of Joy Grahek, Sue-Lynn
Noel, and Alliet Ngorima at GFL with
a team that included Jeffrey Singer, Tim
Chubb and Rachel Wasserman (M&A), Jen-
nifer Legge, Shawn Smith and Victoria Zaric
(banking), Michael Kilby and Gideon Kwin-
ter (competition), Natasha vandenHoven
and Allyson Marta (pensions and benefits)
and Kelly O'Ferrall (employment).
John Tidball of Miller omson LLP ad-
vised GFL on environmental matters related
to the transaction.
Blake, Cassels & Graydon LLP acted
for the parent of Deep Foundations Con-
tractors Inc. with a team that included Mi-
chael Stevenson, Andrew Clark and Austin
White (corporate), Julie Soloway and Peter
Flynn (competition), Daryl Cukierman (em-
ployment), Jeff Sommers and Adam Ngan
(pensions and benefits), Daniel Kofman and
Elizabeth Brachniec (real estate) and Peter
Lee (tax).
Torkin Manes LLP represented the Deep
Group in connection with certain pre-clos-
ing transactions with a team co-led by Jeffrey
Cohen and Glen Eddie, and assisted by Wes-
ley Isaacs.
