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.
MI fields cross-Canada legal team for U.S. real estate environmental company acquisition of 140 properties
Calgary member Scott Venturo called on the MI network to advise its client, a U.S. real estate/environmental remediation corporation, on the acquisition of 140 properties across Canada from a major oil company. Because each Canadian province has its own Land Titles registration system and requirements, the client needed to retain agents in each of the ten Provinces where land would be acquired.
- Reviewing three agreements between the buyer and the seller.
- All conveyancing matters including title review, title insurance, registration of transfers and verifying registration and reporting.
- Post-closure sale of properties and ongoing environmental advice.
- Taxation and incorporation support.
Daniel R Horner, corporate partner and energy specialist at Scott Venturo who led the MI team said; “For the client needing cross Canada advice it was easy for us to deliver a seamless service through the MI network. In addition to delivering high quality advice in a complex situation, the client could also rely on the top level environmental expertise required. They got the right support on the ground exactly when they needed it”.
Other MI Canadian firms involved were Vancouver based Lindsay Kenney represented by banking partner Mark Von Marksfeld and Toronto‘s Macdonald Sager Manis represented by real estate/commercial partner Jordan Cohen.