Jan. 15, 2020 - The official Annual Report under the Investment Canada Act (ICA) for the fiscal year 2018-19 was released at the end of 2019. This document sets out various statistics and other noteworthy developments during that time frame (i.e., April 1, 2018 to March 31, 2019) relating to the two review...
Toromont Industries Ltd. Acquires Hewitt Equipment
Davies represented Toromont Industries Ltd., a diversified industrials company providing specialized capital equipment and ongoing support in various sectors, in its $1-billion acquisition of Hewitt Equipment, the Caterpillar equipment dealer for Québec, Western Labrador and the Maritimes.
The acquisition is Toromont’s largest transaction in 56 years, expanding its Caterpillar dealership and strengthening its expertise in the mining, construction, power systems and forestry sectors. Upon close of the acquisition, Toromont’s Caterpillar dealership will operate 120 branches, giving the company one of the largest sales territories in the Caterpillar dealer network.
The Davies team on this transaction included Cam Rusaw, Steve Cutler, Janet Ferrier, Jared Solinger, Sylvie Samson, Xavier Plamondon and Jeffrey Li (M&A); Alexandria Pike and Laura Weingarden (Environmental); Raj Juneja and Andrew Ellis (Tax); David Reiner and Joseph Jarjour (Real Estate); and Jessica Bullock (Pensions/Employment).
Dec. 23, 2019 - In his own version of the pre-holiday rush, the Canadian Commissioner of Competition has in the last several days challenged one merger transaction and entered into a consent agreement to preserve assets pending his review of another. The Commissioner’s latest actions reflect and reinforce the...