Lexpert magazine features articles and columns on developments in legal practice management, deals and lawsuits of interest in Canada, the law and business issues of interest to legal professionals and businesses that purchase legal services.
Issue link: https://digital.carswellmedia.com/i/1480511
Big Deals COMPILED BY ZENA OLIJNYK AND KIEZZSA CRUZ > ENERGY DEALS WATERLOO NORTH HYDRO MERGES WITH KITCHENER-WILMOT HYDRO CLOSING DATE: SEPTEMBER 1, 2022 Waterloo North Hydro Inc. entered into an agreement to merge with Kitchener-Wilmot Hydro Inc. to create a larger, local, and publicly owned power utility that will provide reliable service, invest in new technologies, generate cost savings through operational effi- ciencies, and keep local jobs in the commun- ities across Ontario. Ontario Energy Board approval was obtained on June 28, 2022. Aird & Berlis LLP advised Waterloo North Hydro with a team led by Ron W. Clark (Energy) and including Dennis O'Leary (Regulatory/Environmental), Emily Chittick and Danielle Shields (Corporate), Michael Horvat (Labour & Employment), and Jill Fraser (Financial Services). Borden Ladner Gervais LLP advised the City of Kitchener with a team led by J. Mark Rodger, Gian Minichini, and Rob Blackstein. Gowling WLG advised Kitchener- Wilmot Hydro with a team led by F. John Durdan. ÉNERGIR ENTERS INTO NEW CREDIT AGREEMENT, $800-MILLION COMMERCIAL PAPER PROGRAM CLOSING DATE: JULY 13, 2022 On July 13, 2022, Énergir, L.P., a Montreal- based diversified energy production company with assets in natural gas, wind, solar, and LNG, entered into a new credit agreement that provides for an $800-million secured revolving credit facility that will mature on July 13, 2027. is credit facility has replaced Énergir's previous $800-million credit facility that was established on March 2, 2012. Énergir has also issued an information memorandum for the issuance of short-term promissory notes (commercial paper) worth $800 million. e promissory notes will be supported by the credit agreement and issued subject to Énergir's financial needs. McCarthy Tétrault LLP advised Énergir, L.P. with a team led by Richard O'Doherty and Patrick Boucher that included Mathilde Melançon-Brais, Mariya Voloshyn, Jason Phelan, and Isabelle Nazon (Business), and Danielle Drolet and Danielle Gagnon (Real Property and Planning). Norton Rose Fulbright Canada LLP advised Bank of Montreal as administrative agent with a team led by David Lemieux that included omas Nichols and Xavier Foccroulle Ménard. GCM GROSVENOR, BLUE WOLF ACQUIRE HALLCON FROM NOVACAP CLOSING DATE: JULY 5, 2022 On July 5, 2022, GCM Grosvenor and Blue Wolf Capital Partners LLC announced their acquisition of Hallcon Corporation, a leading North American provider of mission-critical transportation services and infrastructure, from Canadian private equity firm Novacap. GCM Grosvenor is a global alternative asset management solutions provider with approximately $71 billion in assets under management across private equity, infra- structure, real estate, credit, and absolute return investment strategies. Blue Wolf is a private equity firm that specializes in control investments in middle- market companies. With Blue Wolf and GCM Grosvenor's backing, Hallcon will be able to accel- erate expansion into new North American markets. e firms also intend to enhance Hallcon's ability to scale its electric vehicle charging infrastructure to continue supporting the evolving needs of its customers that are transitioning to elec- tric fleets. Miller omson LLP acted as Canadian counsel to GCM Grosvenor and Blue Wolf on the acquisition with a team led by Max Spearn (Corporate/M&A) and comprised Wuraola Dasylva, Madison Derraugh, and Christopher Fallis (Corporate/M&A); Louis Amato-Gauci and Jaclyne Reive (Transportation Regulatory); David Reynolds and Nadim Elkommos (Financial Services); Eric Dufour and Reema Mahbubani (Competition); Neil Gurmukh and Andrew Etcovitch (Tax); Michelle MacGillivray and Greg Bush (Employment); Karen Durell (IP); Stuart Chaimberg (Real Estate); as well as Tamara Farber (Environmental). Greenberg Traurig LLP served as US legal advisor to GCM Grosvenor and Blue Wolf in connection with the transaction. TD Securities served as financial advisor to GCM Grosvenor and Blue Wolf in connection with the transaction. Blake Cassels & Graydon LLP served as legal advisor to Hallcon, while Houlihan Lokey served as financial advisor. Blakes' team included Patrick Menda (lead lawyer); Laura Blumenfeld and Jordan Schubert (Employment); Cassandra Brown 20 www.lexpert.ca