Blakes, McCarthy Tétrault, Minden Gross are advisors in recently announced acquisitions
Minden Gross advised Toronto-based Lynx Equity Limited in its purchase of a commercial flooring contractor based in Fort Lauderdale, Florida. Stikeman Elliott, Blake, Cassels & Graydon, and McCarthy Tétrault also participated in active deals announced this week.
Lynx Equity announces acquisition of Resource4Floors
On Wednesday, Lynx Equity announced the acquisition of Resource4Floors. Lynx Equity is a private equity firm that acquires small and medium-sized businesses from owners planning to retire or looking for strategic opportunities.
Minden Gross LLP’s managing partner Brian Temins and associate Marco Lippi advised Lynx Equity, while Hartley Nathan and Laura Wolfe delivered in-house legal services for the company. David Stern and Lauren Komsa of Williams, Graffeo & Stern, LLC provided legal services to Resource4Floors.
According to Mujtaba Abidi, Lynx’s senior M&A associate, the company has “developed strong criteria for acquisitions in this space and Resource was a great fit.”
The transaction value is undisclosed.
Stonepeak to acquire interest in pipeline system
On Monday, New York, U.S.-based Stonepeak Partners LP announced that it entered into an agreement to acquire a 50-percent interest in the Key Access Pipeline System (KAPS), which connects Northwest Alberta to energy hubs in Edmonton and Fort Saskatchewan.
Stonepeak is an alternative investment firm focusing on infrastructure and real assets. Stikeman Elliott LLP and Sidley Austin LLP are serving as its legal counsel.
“We believe that North American hydrocarbons, particularly natural gas, will continue to be an important component of the global energy mix for the foreseeable future, especially as efforts to decarbonize East Asia continue,” said Anthony Borreca, Stonepeak’s senior managing director, in a news release.
Natural gas production growth in Western Canada will serve a critical role in such efforts, Borreca added.
The parties expect to close the transaction in the first quarter of 2023, subject to regulatory approvals.
ICPEI Holdings Inc. to enter going-private transaction
ICPEI Holdings Inc. announced that it entered into a Dec. 9 arrangement agreement. Under the agreement, key management members and certain other employees and shareholders of the company, Desjardins General Insurance Group, and some other investors will indirectly acquire all issued and outstanding common shares for $4 per share.
ICPEI Holdings Inc. operates in the Canadian insurance industry via its wholly-owned subsidiary, the Insurance Company of Prince Edward Island (ICPEI). ICPEI offers commercial and personal insurance products exclusively through the broker channel.
Blake, Cassels & Graydon LLP is acting as legal counsel to the company’s special committee of independent directors, while McCarthy Tétrault LLP is legal counsel to Desjardins.
“The Transaction will provide shareholders, other than the Rollover Shareholders, with immediate and certain cash value, while providing the Company with additional flexibility to operate as a private company in the hands of a committed long-term investor,” said Sharon Ranson, the special committee’s director and co-chairperson, in a news release.
The parties plan to close the transaction in the first quarter of next year. The deal’s completion is subject to approval at a special meeting, court approval, and other customary closing conditions.
