LEXPERT MAGAZINE
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JUNE 2018 15
INDUSTRY ANALYSIS
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CORPORATE TRANSACTIONS OF IMPORTANCE
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2
Financials
2
Pipelines
Consumer Services Energy & Power Pipelines
Aerospace & Defence Automotive Materials
Utilities Financials Health Research
Media & Entertainment Recreation & Leisure Advertising & Marketing
2
Construction & Engineering
Utilities Financials Health Research
Media & Entertainment Recreation & Leisure Advertising & Marketing
E-Commerce Construction & Engineering
Consumer Staples
2
Consumer Goods
Consumer Goods Consumer Goods Consumer Goods
E-Commerce Construction & Engineering
Consumer Staples
COLAS ACQUIRES MILLER
MCASPHALT GROUP
CLOSING DATE: FEBRUARY 22, 2018
Colas Canada completed the acquisition of the Miller McAsphalt
Group on February 28, 2018.
e Miller McAsphalt Group is a major player in road construc-
tion and bitumen distribution in Canada.
is transaction is part of Colas's long-term strategy to continue
its development in North America. e North American market has
strong growth prospects given the significant construction and main-
tenance needs for transportation infrastructure.
e acquisition of Miller McAsphalt will allow Colas Canada to
expand its geographic coverage, strengthening its presence in Ontario
and significantly increasing its bitumen storage and distribution ca-
pacity across Canada.
Colas Canada was represented by Stikeman Elliott LLP with a
team that included Claire Zikovsky and Michael Ball (corporate/
M&A), Frank Mathieu and Adam Drori (tax), Stefan Fews, Mistrale
Lepage-Chouinard and Fannie Tremblay (real estate), Larry Cobb
and Myriam Fortin (environmental), Howard Rosenoff, Maxime
Jacquin and Patrick Morin (banking), Eveline Poirier, Nancy Ram-
alho and Charif El-Khouri (employment), Paul Collins, Ashley Pi-
otrowski, William Wu (competition) and Jonathan Auerbach (IP).
Miller McAsphalt was led by in-house Senior Counsel, Richard
Grant, and John Connon (Goodmans LLP) and was assisted by a
team at Goodmans that included Matthew Segal and Randy McAu-
ley (corporate/M&A), Ken Herlin, Bram Green and Tyler D'Angelo
(real estate/leasing), Alan Bowman and Michael Royal (tax), Richard
Annan and Michael Koch (competition/Investment Canada Act)
and Catherine Lyons (environmental) and a team at Miller McAs-
phalt that included Stacey Stoneham (Counsel) and Mike Bigioni
(General Counsel).
e financing for the acquisition was provided pursuant to senior
credit facilities offered by a syndicate of lenders for which HSBC
Bank Canada acted as administrative agent. Such lenders were repre-
sented by Blake, Cassels & Graydon LLP, with a team comprising
Simon Finch and Jennifer Hancock (financial services).
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
WOLF MIDSTREAM ACQUIRES
MEG ENERGY'S 50% INTEREST
IN ACCESS PIPELINE AND 100%
INTEREST IN THE STONEFELL TERMINAL
CLOSING DATE: MARCH 22, 2018
On March 22, 2018, Wolf Midstream Inc. (Wolf Midstream) suc-
cessfully closed the acquisition from MEG Energy Corp. (MEG)
of MEG's 50-per-cent ownership interest in Access Pipeline and a
100-per-cent ownership interest in the Stonefell Terminal for $1.52
billion, including capital commitments of approximately $90 mil-
lion. Wolf Midstream also completed an amendment and restate-
ment of its senior secured credit facilities, which were upsized on the
date of the acquisition to $1.5 billion, in order to provide debt financ-
ing for the acquisition.
Following this acquisition, Wolf Midstream will own 100 per cent
of Access Pipeline in addition to being its sole operator. is agree-
ment includes an initial 30-year commitment from MEG, pertaining
to transportation services on Access Pipeline and the use of Stonefell
Terminal. e Access Pipeline system includes pipelines that trans-
port blended bitumen and diluent between the Christina Lake area
of northeastern Alberta and Edmonton, while the Stonefell Termi-
nal connects MEG's production facilities through the Access Pipeline
system to multiple markets.
Wolf Midstream is a Calgary-based energy infrastructure company
led by a focused team of industry veterans. e Wolf Midstream team
ed Peter Feist, Shayla Harlev, Jakub Wronski, Alexander Miachika,
Arnie Fridhandler, Adam Borenstein and James McDonough (cor-
porate), Andrew Yoon and Brian Drozda (banking and finance),
Heather Emmel and Aman Singh (capital markets), Mark Schwed
and Emily Cummins (tax), Michael Nissan, Steven Margolis, Aman-
da Rosenblum and John Kleinjan (executive compensation and ben-
efits); Jeffrey Osterman, Mary Lentowski and Jennifer Yoon (technol-
ogy & IP transactions), Annemargaret Connolly, John O'Loughlin
and omas Goslin (environmental), and Vadim Brusser and Jona-
than Cheng (anti-trust), Ted Posner (regulatory) and Elliot Gan-
chrow (real estate).
e Financing Parties were represented in Canada by Blake, Cas-
sels & Graydon LLP, with a team that included Alexis Levine, Jen-
nifer Ruddick and Nora Bercovici (financial services), Ross McKee,
Madison Wosminity and Yousaf Khan (securities), Linc Rogers,
Chris Burr and Kelly Peters (bankruptcy and insolvency), Jonathan
Khan (environmental), Lindsay McLeod (pensions) and Jeffrey Sha-
fer (tax).
e Financing Parties were represented in the United States by Ca-
hill, Gordon & Reindel LLP, with a team that included Lisa Col-
lier, Sarah Walton, Andrew Lyon, Kostantinos Skordalos and Marc
Lashbrook.
