US and European MI members advise private equity fund on re-structuring prior to sale of health club chain
Two MI members joined forces to advise a US Private Equity Fund on the complex re-structuring of one of its investments, a Canadian health club chain, ahead of its multi-million dollar sale. Luxembourg and New York members, The Adriaansen Firm and Morrison Cohen respectively, worked on the project for 18 months to prepare for the sale of the investment held through Luxembourg.
The business comprised 25 clubs across Canada with over 600 employees.
Clive Mieville, MI managing director said; “This project demonstrates that no matter how complex or challenging, MI can pull together an expert team in the right place at the right time. Here the MI team worked collaboratively and in a creative manner to resolve US and Luxembourg tax and company issues to ensure the client could achieve their goals.”
The Adriaansen Firm was represented by senior partner and tax specialist Robert Adriaansen while corporate partner Henry Zangara represented Morrison Cohen.