Morrison & Foerster is one of the most active global law firms representing Canadian companies, investment banks, pension plans, private equity funds, and REITs on transactions and disputes in the U.S., Asia, and Europe.

This newsletter tracks significant transactions involving Canadian companies, funds and banks to help keep you apprised of current M&A and private equity deals. For more information about these deals or how MoFo can assist with your next cross-border transaction, please contact Jonathan Melmed in our New York office at (212) 468-8005 or jmelmed@mofo.com. Jonathan, who plays a leading role in MoFo's Canada practice, regularly represents Canadian companies, funds and banks with their transactions in the U.S., Asia, and Europe.

CANADA TRANSACTIONS INTO THE UNITED STATES

M&A Activity

  • Ontario-based Onex Corporation and Onex Partners III LP, along with USI Holdings Corp.'s employees, acquired the entire share capital of USI Holdings Corp., a New Yorkbased insurance company, from GS Capital Partners for an estimated USD 2.3 billion in cash. The deal was announced on November 26, 2012 and closed on December 27, 2012.
  • Saputo Inc. of Québec acquired Morningstar Foods, LLC, a Texas-based producer of dairy products, from Dean Foods Co., for USD 1.45 billion in cash. The deal was announced on December 3, 2012.
  • Teachers' Private Capital of Ontario, a unit of Ontario Teachers' Pension Plan, acquired a majority interest in Heartland Dental Care Inc., an Illinois-based dental company, from CHS Capital LLC. The deal was announced on November 5, 2012 and closed on December 21, 2012. The terms of the deal were not disclosed.
  • MacDonald Dettwiler & Associates Ltd. of British Columbia acquired Space Systems/Loral, Inc., a Californiabased manufacturer of satellites, from Loral Space & Communications Inc., for USD 1.069 billion. The consideration consisted of USD 967.9 million in cash plus USD 101 million in promissory notes. The deal closed on November 2, 2012.
  • Crescent Point Energy Corp. of Alberta acquired Ute Energy Upstream Holdings LLC, a Colorado-based oil and natural gas company, for USD 861 million. The consideration consisted of USD 784 million in cash and the assumption of USD 77 million in liabilities. The deal was announced on November 1, 2012 and closed on November 29, 2012.
  • Toronto-Dominion Bank of Canada agreed to acquire the entire share capital of Epoch Holding Corp., a New Yorkbased provider of investment advisory services, for USD 28 per share in cash, or a total value of USD 669.711 million. The deal was announced on December 6, 2012.
  • Gibson Energy Inc. of Alberta acquired OMNI Energy Services Corp, a Louisiana-based provider of oil and gas field exploration services, from Wellspring Capital Management LLC for USD 445 million in cash. The deal was announced on October 11, 2012 and closed on October 31, 2012.
  • Toronto-Dominion Bank of Canada agreed to acquire the credit card portfolio of Target Corp., a Minnesota-based owner and operator of merchandise and retail discount stores. The deal was announced on October 23, 2012.
  • An investor group, comprised of Brookfield Property Group LLC of Ontario and Hillwood Development Co LLC, acquired Verde Realty Operating Partnership LP, a Texas-based real estate investment trust. The deal closed on December 24, 2012. The terms of the deal were not disclosed.
  • Morguard Corporation of Ontario acquired Alta At K Station, an Illinois-based owner and operator of a multi-family residential complex, for an estimated USD 300 million in cash. The deal was announced on November 20, 2012 and closed on December 21, 2012.
  • Element Financial Corp. of Ontario acquired CoActiv Capital Partners Inc., a Pennsylvania-based provider of equipment leasing finance services, from Marubeni America Corp. for USD 299.581 million in cash. The deal was announced on November 9, 2012 and closed on November 30, 2012.
  • Stella-Jones Inc. of Québec acquired McFarland Cascade Holdings Inc., a Washington-based manufacturer and wholesaler of treated wood products, for an estimated USD 250 million in cash. The deal was announced on November 2, 2012 and closed on November 30, 2012.
  • Algonquin Power Co. of Ontario acquired majority interests in certain wind projects of Gamesa Corporacion Tecnologica located in Texas, Pennsylvania, Illinois and Iowa for a combined estimated value of USD 900 million. The deal closed on December 10, 2012.
  • Onex Corp. of Ontario acquired a 50% interest in BBAM LLC, a California-based provider of commercial aircraft leasing, financing and management services. Onex acquired a 15% stake in BBAM from Fly Leasing Ltd., an Irish aircraft finance company, and an additional 35% interest from BBAM management for a total of USD 165.896 million in cash. The deal was announced on December 3, 2012 and closed on January 2, 2013.
  • Canacol Energy Ltd. of Alberta acquired the entire share capital of Shona Energy Co. Inc., a Texas-based oil and gas exploration and production company, in a stock swap transaction valued at USD 121.045 million. The consideration consisted of USD 0.913 in cash per share and the issuance of 244.662 million ordinary Canacol shares. The deal was announced on October 15, 2012 and closed on December 21, 2012.
  • Enerplus Corp. of Alberta raised its interest in the Sleeping Giant Elm Coulee field in Montana to 90% from 70%, by acquiring a further 20% stake for USD 119 million in cash. The deal was announced on December 10, 2012 and closed on December 20, 2012.
  • Timbercreek US Multi-Residential Opportunity Fund # 1 of Ontario acquired 1,380 residential units located in Texas, Virginia, and North Carolina for an estimated USD 95.4 million. The deal closed on December 27, 2012.
  • Algonquin Power & Utilities Corp of Ontario acquired the remaining 49.9% stake which it did not already own in California Pacific Electric Co, a California-based electric utility company, from its joint venture partner, Emera Inc., in exchange for 16 million shares of Algonquin common stock valued at USD 92.96 million. The deal closed on December 21, 2012.
  • Pure Multi-Family REIT LP of British Columbia acquired Prairie Creek Villas, a Texas owner and operator of apartment buildings, for USD 52.5 million in cash. The deal was announced on October 2, 2012 and closed on October 11, 2012.
  • Pure Multi-Family REIT LP of British Columbia acquired a Texas multi-family apartment community known as Bear Creek for USD 49.35 million in cash. The deal was announced on October 31, 2012 and closed on October 31, 2012.
  • RioCan Real Estate Investment Trust of Ontario acquired an 85% interest in Louetta Central Shopping Center, a Texasbased owner and operator of shopping centers, from Urdang Value-Added Fund II LP and RCG Ventures LLC for USD 31 million in cash. The deal closed on November 6, 2012.
  • ONCAP Management Partners LP of Ontario, an affiliate of Onex Corp., acquired Bradshaw International Inc., a California-based wholesaler of kitchen utensils and cleaning products, from Arbor Private Investment Co LP. The deal was announced on December 28, 2012. The terms of the deal were not disclosed.
  • Red-D-Arc Ltd. of Ontario acquired D&D Power LLC, a Texas-based provider of equipment rental services. The deal closed on December 27, 2012. The terms of the deal were not disclosed.
  • Samuel, Son & Co. Ltd. of Ontario acquired Frontier Steel Co., a Pennsylvania-based manufacturer and wholesaler of processed steel plates. The deal closed on December 22, 2012. The terms of the deal were not disclosed.
  • Boshart Industries Inc. of Ontario acquired Flomatic Corp., a New York-based manufacturer and wholesaler of heck valves, foot valves and automatic hydraulic control valves, from Watts Water Technologies, Inc. The deal closed on December 21, 2012. The terms of the deal were not disclosed.
  • Cambridge Mercantile Group of Ontario agreed to acquire Global Exchange Group Inc., a New Jersey-based provider of payment outsourcing services, from Fulton Financial Corp. The deal was announced on December 19, 2012. The terms of the deal were not disclosed.
  • Stantec Inc. of Alberta acquired Landmark Survey & Mapping Inc., a Pennsylvania-based provider of surveying and mapping services. The deal closed on December 14, 2012. The terms of the deal were not disclosed.
  • IBI Group, Inc. of Ontario acquired M E Companies Inc., an Ohio-based provider of management and engineering services. The deal closed on December 12, 2012. The terms of the deal were not disclosed.
  • Mac's Convenience Stores LLC, a wholly owned subsidiary of Alimentation Couche-Tard Inc. of Québec, agreed to acquire 29 convenience stores, located in Illinois, Missouri and Oklahoma. The deal was announced on December 10, 2012. The terms of the deal were not disclosed.
  • Constellation HomeBuilder Systems Inc. of Ontario, a wholly-owned unit of Constellation Software Inc., acquired Salar, Inc., a Maryland-based developer of electronic clinical documentation and billing software. The deal closed on December 5, 2012. The terms of the deal were not disclosed.
  • Constellation HomeBuilder Systems Inc. of Ontario, a wholly-owned unit of Constellation Software Inc., acquired Honeywell POMS Corp, a Virginia-based provider of web based production management control services, from Honeywell International Inc. The deal closed on December 5, 2012. The terms of the deal were not disclosed.
  • Brookfield Residential Properties Inc. of Alberta agreed to acquire Playa Capital Co. LLC, a California-based real estate development firm. The deal was announced on December 4, 2012. The terms of the deal were not disclosed.
  • Constellation Homebuilder Systems Inc. of Ontario, a unit of Constellation Software Inc., acquired Z57, Inc., a Californiabased provider of real estate internet marketing services. The deal closed on December 4, 2012. The terms of the deal were not disclosed.
  • Medical Facilities Corp. of Ontario acquired a 51% interest in Arkansas Surgical Hospital, L.L.C., an Arkansas-based owner and operator of hospitals, for approximately USD 36.2 million in cash. The deal was announced on November 13, 2012 and closed on November 30, 2012.
  • MFC Industrial Ltd. of British Columbia agreed to acquire the remaining 30% stake, which it did not already own, in ACC Resources Co LP, a New Jersey-based wholesaler of cement. The deal was announced on November 29, 2012. The terms of the deal were not disclosed.
  • Teachers' Private Capital, a unit of Ontario Teachers' Pension Plan, acquired Plano Molding Co., an Illinoisbased manufacturer of plastic storage products, from Tinicum Capital Partners II LP. The deal was announced on November 28, 2012. The terms of the deal were not disclosed.
  • Ridley Inc. of Manitoba, a wholly owned unit of Fairfax Financial Holdings Ltd., acquired Stockade Brands Inc., a Kansas-based manufacturer of livestock supplements. The deal closed on November 28, 2012. The terms of the deal were not disclosed.
  • Spin Master Ltd. of Ontario acquired Wild Planet Entertainment Inc., a California-based manufacturer, wholesaler and retailer of toys. The deal closed on November 26, 2012. The terms of the deal were not disclosed.
  • An investor group, comprised of Kilmer Capital Partners of Ontario, TerraNova Partners LP of Ontario, and the management of Compact Power Equipment Centers Inc. (Compact), acquired an undisclosed majority interest in Compact, a South Carolina-based manufacturer and wholesaler of light construction equipment. The deal closed on November 22, 2012. The terms of the deal were not disclosed.
  • Mitre Media Corp of Alberta acquired MunicipalBonds. com LLC, a Connecticut-based provider of e-commerce information services. The deal closed on November 16, 2012. The terms of the deal were not disclosed.
  • CSA Group of Ontario acquired Orb Optronix Inc., a Washington-based manufacturer and wholesaler of LED testing and measurement equipment. The deal closed on November 16, 2012. The terms of the deal were not disclosed.
  • Stantec Inc. of Alberta acquired Corzo Castella Carballo Thomson Salaman, a Florida-based provider of engineering services. The deal was announced on November 12, 2012 and closed on November 30, 2012. The terms of the deal were not disclosed.
  • Lasso Data Systems Inc. of British Columbia acquired UFollowUp LLC, a Washington, D.C.-based developer of customer management software. The deal closed on November 12, 2012. The terms of the deal were not disclosed.
  • Fraser Milner Casgrain LLP of Ontario merged with SNR Denton LLP, an Illinois-based provider of legal services. The deal closed on November 8, 2012. The terms of the deal were not disclosed.
  • CAE Healthcare of Québec, a unit of CAE Inc., acquired Blue Phantom, a Washington-based provider of ultrasound handson training models and comprehensive education solutions services. The deal closed on November 6, 2012. The terms of the deal were not disclosed.
  • Dakar Resource Corp. of British Columbia agreed to acquire the entire share capital of Proteus Energy Corp., a Californiabased oil and gas exploration and production company. The deal was announced on November 6, 2012. The terms of the deal were not disclosed.
  • Jonas Software Inc. of Ontario, a unit of Constellation Software Inc., acquired MediaBox Communications Inc., a Georgia-based developer of on-demand software, from Conecture Technologies LLC. The deal closed on November 6, 2012. The terms of the deal were not disclosed.
  • Miranda Gold Corp of British Columbia acquired Kilby Flats projects, a Nevada-based a gold mining property. The deal closed on November 1, 2012. The terms of the deal were not disclosed.
  • Triphase Research & Development I Corp. of Ontario acquired Nereus Pharmaceuticals Inc., a California-based biotechnology company. The deal closed on October 23, 2012. The terms of the deal were not disclosed.
  • Avison Young Inc. of Ontario acquired Thomas Linderman Graham Inc., a North Carolina-based real estate agency. The deal was announced on October 12, 2012 and closed on October 31, 2012. The terms of the deal were not disclosed.
  • Livingston International Inc. of Ontario, a wholly-owned unit of Livingston International Income Fund, acquired Norman G. Jensen Inc., a Minnesota-based provider of customs brokerage services. The deal closed on October 12, 2012. The terms of the deal were not disclosed.
  • RSI International Systems Inc. of British Columbia acquired Information Systems Inc., a Minnesota-based developer of property management software, from DBM Software Inc. The deal closed on October 10, 2012. The terms of the deal were not disclosed.
  • Solium Capital Inc. of Alberta acquired OptionEase Inc., a California-based developer of regulatory applications software. The deal was announced on October 8, 2012 and closed on November 15, 2012. The terms of the deal were not disclosed.
  • Avison Young Inc. of Ontario acquired The Walsh Co LLC, a New Jersey-based provider of representation and project management services. The deal closed on October 3, 2012. The terms of the deal were not disclosed.
  • Creation Technologies LP of British Columbia, acquired Aisling Industries, a California-based manufacturer of printed circuit boards. The deal closed on October 3, 2012. The terms of the deal were not disclosed.
  • Borealis Infrastructure Inc. of Ontario agreed to acquire Midland Cogeneration Venture LP, a Michigan-based owner and operator of a cogeneration plant, from EQT Funds Management Ltd, a unit of EQT Partners BV, and Fortistar LLC. The deal was announced on October 2, 2012. The terms of the deal were not disclosed.
  • Ganz Inc. of Ontario acquired Midwest-CBK, a Tennesseebased manufacturer and retailer of scented candles, from MVP Group International Inc. The deal closed on October 2, 2012. The terms of the deal were not disclosed.
  • Cellteck, Inc. of Ontario acquired Eos Petro, Inc., a Delawarebased oil and gas exploration and production company, in a stock deal. The deal closed on October 12, 2012. The terms of the deal were not disclosed.
  • Kingsway Financial Services Inc. of Ontario acquired certain tangible and intangible assets and liabilities of Intercontinental Warranty Services, Inc., a Florida-based insurance company. The deal closed on November 19, 2012. The terms of the deal were not disclosed.
  • Canada Pension Plan Investment Board of Ontario together with BC Partners Ltd. acquired Suddenlink Communications, a Missouri-based cable system operator, for USD 6.6 billion in cash. The deal closed on Nov 20, 2012.
  • Brookfield Asset Management Inc. of Ontario acquired a majority stake in Verde Realty, a Texas-based real estate investment trust, for USD 886 million in cash. The deal closed on December 21, 2012.

Private Equity Activity

  • Borealis Infrastructure Management Inc. of Ontario, agreed to acquire a 49% stake in four wind farm assets of EDP Renovaveis SA, an owner and operator of wind farms, and a unit of Energias de Portugal SA, for USD 230 million in cash and stock. The wind farm assets are located in Minnesota, Illinois, Texas and Oregon. The deal was announced on November 6, 2012.
  • Canada Pension Plan Investment Board of Ontario acquired a 19.779% stake in Halcón Resources Corp., a Texas-based oil and gas exploration and production company, for USD 7.16 per share in cash, or a total value of USD 300 million. The deal was announced on October 22, 2012 and closed on December 6, 2012.
  • Ivanhoé Cambridge Inc. of Québec, acquired a 49.9% stake in 1411 Broadway, a 40-story office tower located in Manhattan, from The Swig Co., LLC for an estimated USD 360 million. The deal closed on November 19, 2012.
  • Northleaf Capital Partners Ltd. of Ontario along with coinvestor Mason Wells Inc. acquired Whitehall Specialties, a Wisconsin-based producer of custom analog and processed cheese products. The deal closed on November 26, 2012. The terms of the deal were not disclosed.
  • OMERS Private Equity of Ontario, through its portfolio company, Accelerated Holdings, LLC, acquired Illinois-based Newsome Physical Therapy, Premier Physical Therapy, and WorkSport Rehabilitation Services. The deal closed on October 9, 2012. The terms of the deal were not disclosed.

CANADIAN TRANSACTIONS INTO EUROPE

M&A Activity

  • AEA Investors LP and Teachers' Private Capital of Ontario purchased Dematic Group Sarl, a Luxembourg-based logistics equipment maker, from Triton Advisers Ltd. The deal closed November 13, 2012. The terms of the deal were not disclosed.
  • Brookfield Infrastructure Partners of Ontario purchased Inexus, a UK-based utility and infrastructure provider, from Challenger Infrastructure Fund, for USD 55 million. The deal closed on October 19, 2012.
  • North Plains Systems of Ontario acquired VYRE Limited, a UK-based provider of marketing resource management and brand asset management software. The deal closed on December 6, 2012. The terms of the deal were not disclosed.

Private Equity Activity

  • Teralys Capital of Québec announced a $15 million investment in Iris Capital III, a France-based international venture capital fund. The deal was announced on October 23, 2012.

UNITED STATES TRANSACTIONS INTO CANADA

M&A Activity

  • Spectra Energy Corp of Texas agreed to acquire the entire share capital of Express-Platte Pipeline System, an Albertabased owner and operator of crude oil pipelines, from Borealis Infrastructure Inc., Ontario Teachers' Pension Plan and Kinder Morgan Energy Partners LP. The consideration consists of USD 1.25 million in cash and the assumption of USD 240 million in liabilities. The deal was announced on December 11, 2012.
  • WDCC Enterprises Inc. of Pennsylvania, a wholly-owned unit of WESCO International Inc., acquired EECOL Electric Corp., an Alberta-based wholesaler of electrical products, for an estimated USD 1.166 billion in cash. The deal was announced on October 27, 2012 and closed on December 12, 2012.
  • Gilead Sciences Inc. of California agreed to acquire YM Biosciences Inc., an Ontario-based biotechnology company, for USD 2.95 per share in cash, or a total value of USD 472.673 million, via a scheme of arrangement. The deal was announced on December 12, 2012.
  • Argonaut Gold Inc. of Nevada acquired the entire share capital of Prodigy Gold Inc., a British Columbia-based gold and uranium mining company, in a stock swap transaction valued at USD 348 million, via a scheme of arrangement. The deal was announced October 15, 2012 and closed on December 11, 2012.
  • Trio Merger Corp. of New York agreed to acquire the entire share capital of SAExploration Holdings, Inc., an Albertabased provider of seismic data acquisition services, from CLCH, LLC. The consideration consists of USD 7.504 million in cash, USD 17.508 million in promissory notes, up to a further USD 10.272 million in earnout payments, and the issuance of 6.448 million Trio common shares valued at USD 66.768 million. The deal was announced on December 11, 2012.
  • American Tire Distributors Inc. of North Carolina acquired Triwest Trading Ltd., an Alberta-based wholesaler of tires and wheels, from Alberta Inc., for an estimated USD 97.5 million. The deal closed on November 30, 2012.
  • The Hillman Cos. Inc. of Ohio, a unit of Oak Hill Capital Partners LP, agreed to acquire the entire share capital of H. Paulin & Co. Ltd., an Ontario-based manufacturer and wholesaler of industrial fasteners, automotive parts, bolts, nuts, screws and fluid system components, for USD 28.003 per share in cash, or a total value of USD 95.819 million, via a scheme of arrangement. The deal was announced on December 18, 2012.
  • Louisiana-Pacific Corp. of New York signed a letter of intent to acquire the remaining 50% interest, which it did not already own, in Peace Valley OSB, a British Columbia-based manufacturer of oriented strand boards, for an estimated USD 75 million. The deal was announced on November 28, 2012.
  • Cupric Canyon Capital LLC of Arizona, agreed to acquire the remaining 81.447% interest, which it did not already own, in Hana Mining Ltd., a British Columbia-based copper and silver mining company, from Pala Investments Holdings Ltd. and other shareholders, for USD 0.825 per share in cash, or a total value of USD 67.06 million, via a scheme of arrangement. The deal was announced on October 24, 2012.
  • Knape & Vogt Manufacturing Co. of Michigan, a majorityowned unit of Wind Point Partners, acquired the furniture components business of CompX International Inc., an Ontario-based manufacturer of fabricated metal products, for an estimated USD 59 million in cash. The deal closed on December 28, 2012.
  • Vishay Precision Group Inc. of Pennsylvania agreed to acquire George Kelk Corp., an Ontario-based manufacturer of electronic measuring equipment, for USD 50.731 million in cash. The deal was announced on December 18, 2012.
  • PR Newswire Inc. of New York acquired a 50% interest in CNW Group Ltd., an Ontario-based provider of electronic newswire services, from PA Group Ltd. for USD 48.728 million in cash. The deal closed on November 1, 2012.
  • FLIR Systems Inc. of Oregon acquired the entire share capital of LOREX Technology Inc., an Ontario-based manufacturer, developer and wholesaler of video surveillance products, for USD 1.308 per share in cash, or a total value of USD 48.277 million, via a scheme of arrangement. The deal was announced on October 25, 2012 and closed on December 20, 2012.
  • Mill Road Capital LP of Connecticut acquired the entire share capital of PRT Growing Services Ltd., a British Columbiabased owner and operator of seedling nurseries, for USD 4.468 per share in cash, or a total value of USD 44.562 million. The deal was announced on November 2, 2012 and closed December 14, 2012.
  • BNSF Logistics LLC of Arizona, a unit of Burlington Northern Santa Fe Corp., agreed to acquire Albacor Shipping Inc., an Ontario-based provider of shipping services. The deal was announced on December 28, 2012. The terms of the deal were not disclosed.
  • Lockheed Martin Corp. of Maryland acquired CDL Systems Ltd., an Alberta-based developer of aerospace software. The deal closed on December 21, 2012. The terms of the deal were not disclosed.
  • Rockwater Energy Solutions Inc. of Texas acquired Vencor Production Testing Ltd, an Alberta-based provider of production testing services. The deal closed on December 18, 2012. The terms of the deal were not disclosed.
  • InSite Wireless Group, LLC of Virginia acquired a 54% interest in Turris Sites Inc., an Ontario-based owner and operator of wireless tower sites. The deal closed on December 17, 2012. The terms of the deal were not disclosed.
  • Sims Metal Management Ltd of New York acquired Genesis Recycling Ltd., a British Columbia-based wholesaler of scrap materials. The deal closed on December 6, 2012. The terms of the deal were not disclosed.
  • Nuance Communications Inc. of Massachusetts acquired Accentus Inc., an Ontario-based provider of medical transcription services, from High Road Capital Partners. The deal closed on December 4, 2012. The terms of the deal were not disclosed.
  • Transplace Inc. of Texas, a unit of CI Capital Partners LLC, acquired Torus Freight Systems, an Ontario-based provider of logistic services. The deal closed on December 4, 2012. The terms of the deal were not disclosed.
  • Packaging Dynamics Corp. of Illinois acquired De Luxe Group Inc., a Québec-based manufacturer and wholesaler of paper products. The deal closed on November 30, 2012. The terms of the deal were not disclosed.
  • Google Inc. of California acquired BufferBox Inc., an Ontariobased provider of e-commerce services. The deal closed on November 30, 2012. The terms of the deal were not disclosed.
  • Willis North America Inc. of New York, a unit of Willis Group Holdings PLC, agreed to acquire Avalon Actuarial Inc., a Québec-based provider of actuarial benefit consulting services. The deal was announced on November 29, 2012. The terms of the deal were not disclosed.
  • Bullhorn Inc. of Massachusetts, a wholly-owned unit of Vista Equity Partners LLC, acquired Maxhire Solutions, a British Columbia-based developer of recruiting software. The deal closed on November 28, 2012. The terms of the deal were not disclosed.
  • Swander Pace Capital LLC of California acquired Benevito Foods Inc., an Ontario-based manufacturer and wholesaler of frozen baked products. The deal closed on November 28, 2012. The terms of the deal were not disclosed.
  • Stanley Black & Decker Inc. of Connecticut acquired Abmast Inc., a Québec-based manufacturer of depressed center grinding and cut-off wheels. The deal closed on November 23, 2012. The terms of the deal were not disclosed.
  • Swank Audio Visuals of Missouri merged with PSAV Presentation Services, an Ontario-based provider of presentation services. The deal closed on November 13, 2012. The terms of the deal were not disclosed.
  • DORMA Group North America of Pennsylvania, a unit of DORMA GROUP, acquired Rutherford Controls International Corp., an Ontario-based manufacturer of security components. The deal closed on November 13, 2012. The terms of the deal were not disclosed.
  • Connor Clark & Lunn Real Return Income Fund of Delaware merged with ING Floating Rate Senior Loan Fund, an Ontario-based closed-end investment fund. The deal closed on November 12, 2012. The terms of the deal were not disclosed.
  • The Riverside Co. of New York acquired Prairie West Terminal Ltd., a Saskatchewan-based provider of grain storage services. The deal closed on November 9, 2012. The terms of the deal were not disclosed.
  • Hub International Ltd. of Illinois acquired Huestis Commercial Insurance Ltd., a New Brunswick-based insurance agency. The deal closed on November 5, 2012. The terms of the deal were not disclosed.
  • Landmark Distribution LLC of California agreed to acquire Landmark Trade Services, an Ontario-based provider of customs brokerage and freight forwarding services. The deal was announced on October 30, 2012. The terms of the deal were not disclosed.
  • AFS Technologies, Inc. of Arizona acquired MEI Computer Technology Group Inc., a Québec-based developer of trade promotion software. The deal closed on October 23, 2012. The terms of the deal were not disclosed.
  • DayStar Technologies, Inc. of California agreed to acquire Grasshopper Energy Corp., an Ontario-based provider of energy efficiency financial incentive management and turnkey solar power solution services. The deal was announced on October 22, 2012. The terms of the deal were not disclosed.
  • Sysco Corp. of Washington, D.C. agreed to acquire the Distargo division of Metro Inc., a Québec-based owner and operator of grocery stores and drug stores. The deal was announced on October 22, 2012. The terms of the deal were not disclosed.
  • PGA Tour Inc. of Florida acquired Canadian Professional Golf Tour, an Ontario-based provider of golf tournament services. The deal closed on October 19, 2012. The terms of the deal were not disclosed.
  • AppDirect LLC of California acquired Enterprise jBilling Software Ltd., an Ontario-based developer of billing software. The deal closed on October 16, 2012. The terms of the deal were not disclosed.
  • Xtra Energy Corp. of Florida acquired OilShale International Corp., an Alberta-based oil and gas exploration and production company. The deal was announced on October 16, 2012 and closed on October 23, 2012. The terms of the deal were not disclosed.
  • Pentair Ltd. of Minnesota, through its Aquatic Systems global business unit, acquired Point Four Systems Inc., a British Columbia-based provider of engineered solutions services. The deal closed on October 15, 2012. The terms of the deal were not disclosed.
  • Anderson Trucking Service, Inc. of Minnesota acquired Waylon Transport, Ltd., an Alberta-based provider of logistics and international transportation services. The deal was announced and closed on October 11, 2012. The terms of the deal were not disclosed.

Private Equity Activity

  • Coles Hill, LLC of Virginia acquired a 33.782% stake in Virginia Energy Resources Inc., a British Columbia-based mineral mining company. The deal closed on October 9, 2012. The terms of the deal were not disclosed.
  • KSL Capital Partners, LLC of Colorado agreed to acquire a 23.986% stake in Whistler Blackcomb Holdings Inc., a British Columbia-based owner and operator of ski and snowboard resorts, from Intrawest ULC for USD 12.819 per share in cash, or a total value of USD 116.558 million. The deal was announced on December 3, 2012.
  • An investor group including, among other investors, Providence Equity Partners of Rhode Island and Madison Dearborn Partners LLC of Illinois acquired Q9 Networks Inc., an Ontario-based IT provider, from ABRY Partners, LLC. The deal closed on October 17, 2012. The terms of the deal were not disclosed.
  • Kohlberg Kravis Roberts & Co. of New York invested USD 74.9 million in Westbrick Energy Ltd., an Alberta-based oil and gas explorer. The deal was announced on November 19, 2012.
  • Life Sciences of Florida agreed to invest in MethylGene Inc., a Québec-based biopharmaceutical company, as part of a private placement of USD 26.1 million in capital stock. The deal was announced on November 21, 2012.
  • Kayne Anderson Mezzanine Partners of California made a USD 20 million investment in Alberta-based DIRTT Environmental Solutions Ltd., a manufacturer of agile interior construction solutions. The deal closed on December 13, 2012.
  • Berkshire Partners LLC of Massachusetts acquired an undisclosed minority stake in Farm Boy Inc., an Ontariobased wholesaler of produce and meat. The deal closed on November 13, 2012. The terms of the deal were not disclosed.

ASIA TRANSACTIONS INTO CANADA

M&A Activity

  • CCM Group Ltd of Singapore signed a Memorandum of Understanding to acquire the entire share capital of Canasea Oil & Gas Ltd., a Saskatchewan-based oil and gas exploration and production company, from Canasea Petrogas Group Holdings Ltd. The deal was announced on December 14, 2012. The terms of the deal were not disclosed.

Private Equity Activity

  • Mitsui & Co., Ltd of Japan acquired a 30% stake in a portfolio of renewable energy power generation projects located in Canada which was developed and operated by GDF SUEZ Canada, an affiliate of the global energy group GDF SUEZ S.A. The deal closed on December 14, 2012 and the terms of the deal were not disclosed.

EUROPE TRANSACTIONS INTO CANADA

M&A Activity

  • Glencore International PLC of Switzerland acquired the entire share capital of Viterra Inc., a Saskatchewan-based provider of grain handling services, for USD 16.467 per share in cash, or a total value of USD 6.121 billion, via a scheme of arrangement. The deal closed on December 17, 2012.
  • Enbridge Inc. of France agreed to acquire a 50% stake in a wind project of EDF EN Canada, located in Quebec, for USD 172.187 million. The deal was announced on December 20, 2012.
  • RSA Insurance Group PLC of England acquired L'Union Canadienne Compagnie D'Assurances, a Québec-based insurance agency, from Co-operators General Insurance Co., for USD 146 million in cash. The deal closed on October 1, 2012.
  • Hochschild Mining PLC of England launched a tender offer to acquire the entire share capital of Andina Minerals Inc., an Ontario-based gold, silver and copper mining company, for USD 0.799 per share in cash, or a total value of USD 103.386 million. The offer was launched on November 16, 2012 and the deal closed on January 11, 2013.
  • Bunzl PLC of England acquired McCordick Glove & Safety Inc., an Ontario-based wholesaler of personal protective equipment. The deal closed on December 19, 2012. The terms of the deal were not disclosed.
  • Foster Wheeler AG of Switzerland acquired Three Streams Engineering Ltd., an Alberta-based provider of engineering services. The deal closed on November 28, 2012. The terms of the deal were not disclosed.
  • Bayer Healthcare AG of Germany, a unit of Bayer AG, agreed to acquire Radimetrics Inc., an Ontario-based developer of medical imaging software. The deal was announced on November 26, 2012. The terms of the deal were not disclosed.
  • Aker Solutions ASA of Norway agreed to acquire Thrum Energy Inc., a Newfoundland-based provider of asset integrity management services. The deal was announced on November 22, 2012. The terms of the deal were not disclosed.
  • ZM Industries Ltd. of England acquired Chantier Davie Canada Inc., a Québec-based manufacturer of ships, from Upper Lakes Group Inc. The deal closed on November 22, 2012. The terms of the deal were not disclosed.
  • Caldic B.V. of the Netherlands acquired Nealanders International Inc., an Ontario-based producer and wholesaler of food ingredients. The deal closed on October 2, 2012. The terms of the deal were not disclosed.

Private Equity Activity

  • Carillion PLC of England acquired a 49% stake in The Bouchier Group, an Alberta-based provider of construction and site management services, for USD 38.328 million in cash. The deal closed on December 12, 2012.
  • Octagon 88 Resources Inc. of Switzerland acquired a 22% stake in CEC North Star Energy Ltd., an Alberta-based oil and gas exploration and production company, from Zentrum Energie Trust AG for USD 63 million in restricted common stock. The deal was announced on October 15, 2012 and closed on December 24, 2012.
  • A consortium comprised of Stephan Cretier, Founder, Chairman and CEO of Garda World Security Corp. (Garda), and a subsidiary of funds advised by Apax Partners, a United Kingdom private equity firm, acquired the Class A shares of Garda for USD 1.1 billion, including assumed debt. The deal closed on November 13, 2012.

Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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