24 LEXPERT MAGAZINE
|
OCTOBER 2017
BIG DEALS
Insurance Insurance
TRIMONT FINANCIAL ACQUIRES
WESTERN FINANCIAL GROUP
AND WESTERN LIFE ASSURANCE
FROM DESJARDINS
CLOSING DATE: JULY 1, 2017
On July 1, 2017, Trimont Financial Ltd. (Trimont), a wholly owned
subsidiary of e Wawanesa Mutual Insurance Co. (Wawanesa), ac-
quired Western Financial Group Inc. and Western Life Assurance
Co. (collectively, Western) from Desjardins Financial Corp. Inc.
(Desjardins), a Desjardins Group subsidiary.
Valued at approximately $775 million, the transaction includes
Western's primary business units: its brokerage network, Western
Financial Group Insurance Solutions and Western Life Assurance.
Wawanesa is one of the largest property and casualty insurers in
Canada, with $3 billion in annual revenues and assets of more than
$9 billion. Trimont provides direct support to local brokers to as-
sist with succession planning, growth, capital investment and other
needs. Desjardins Group is the leading cooperative financial group in
Canada and the sixth largest cooperative financial group in the world,
with assets close to $268 billion.
Wawanesa/Trimont was represented in-house by Evan Johnston
and Ed Kroeger and by MLT Aikins LLP, with a team led by David
Filmon (M&A) and including Richmond Bayes, Doug Stewart, Jor-
dan Riese, Paul Tascona, Sacha Nelson and Steven Ferreira (M&A),
Nigel ompson (corporate/commercial), Michael Zeismann (tax),
Shandra Czarnecki (employment), Michelle Redekopp and Peter
Anandranistakis (benefits) and Greg Fleetwood (litigation), and with
respect to regulatory matters by Cassels Brock & Blackwell LLP
with a team that included Brian Reeve, Gordon Goodman, Sean Mc-
Gurran and Marisa Coggin (insurance – corporate and regulatory)
and Chris Hersh and Belinda Chiu (competition).
Desjardins was represented in-house by Luc Boucher and Philippe
Tommei, and by Stikeman Elliott LLP with a team that included
Maxime Turcotte, Julien Michaud, Julien Robitaille-Rodriguez,
Carla L'Écuyer, Samantha Allen and John Simpson (M&A), Stuart
Carruthers (regulatory), Franco Gadoury and Éric Levesque (tax),
Michael Kilby (competition), Bertrand Ménard (M&A and real es-
tate/financing), Charles Nadeau (litigation), Natasha VandenHoven
(benefits), and Stephanie Weschler, Stephanie Pasternyk and Kris
Noonan (employment).
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
BOYD GROUP INCOME
FUND CLOSES ACQUISITION
OF ASSURED AUTOMOTIVE INC.
CLOSING DATE: JULY 4, 2017
On July 4, 2017, Boyd Group Income Fund (TSX: BYD.UN) (Boyd)
completed its acquisition of the assets and business of Assured Auto-
motive Inc. and related entities (collectively, Assured) for total con-
sideration of $193.6 million, which was satisfied by a cash payment
of $146.1 million and the issuance of $47.5 million in units of Boyd.
e Ontario-based Assured was the largest operator of non-fran-
chised collision repair centres in Canada, with 68 locations across the
province. is acquisition makes the Winnipeg-based Boyd the larg-
est non-franchised provider of collision repair services in Canada and
secures its position as a leading provider of collision repair services in
North America.
Following its acquisition of Assured's business, Boyd owns 110
locations in Canada and 476 locations across North America. e
acquired business will continue to operate in Ontario under the As-
sured brand name.
Assured was represented in-house by Glenn Bryant, Chairman
and General Counsel. Assured was represented externally by DLA
Piper (Canada) LLP with a team led by Robert Black and includ-
ing Russel Drew (M&A), Lana Finney (environmental), Sarah Bode,
Derek Sigel, Bruce Darlington, Ashton Wiebe and Nicholas Sharatt
(corporate and M&A), Michael Richards and Ryan Campbell (em-
ployment), Stephen Morris (real estate) and Kevin Fritz (tax). Jefferies
LLC acted as financial advisor to Assured.
Boyd was represented in-house by Peter Toni, Corporate Attorney.
Boyd was represented externally by ompson Dorfman Sweatman
LLP with a team led by Greg Tallon and including, Barry MacTav-
ish (securities), Robin Kersey (employment), Stephanie Tétreault, Mi-
chael Choiselat, Stefan Drew and Courtney Weinstein. Alexandria
Pike from Davies Ward Phillips & Vineberg LLP represented Boyd
in respect of environmental matters. Acumen Corporate Develop-
ment Inc. provided advisory services to Boyd.
