A skilled practitioner, Devon assists clients on a variety of commercial transactions, with a focus on fund formation, financings, and mergers and acquisitions.
Devon advises clients on their ongoing securities and corporate law obligations and has significant experience representing fund sponsors on all aspects of the fund formation process.
Acted for Hydrostor Inc., a developer of Advanced Compressed Air Energy Storage (A-CAES) projects, in securing a US$37-million growth financing to advance their global pipeline of utility-scale energy storage projects, including equity, debt, an asset acquisition, cash commitments, a project development partnership with Meridiam, a global infrastructure developer, and a strategic technology partnership with Baker Hughes, a GE Company.
Business Development Bank of Canada
Acting for Business Development Bank of Canada in connection with the Government of Canada's Venture Capital Catalyst Initiative, which involves the formation of certain venture capital fund-of-funds. Teralys Capital Innovation Fund, Northleaf Venture Catalyst Fund II and Kensington Venture Fund II, three of the five venture capital fund-of-funds established under the VCCI program, had their initial closings in 2018.
Canadian Imperial Bank of Commerce, The Bank of Nova Scotia, ING Capital and a syndicate of lenders
Acted for Canadian Imperial Bank of Commerce, The Bank of Nova Scotia, ING Capital and a syndicate of lenders in the US$550-million senior secured credit facilities made available to Hudbay Minerals Inc. and Hudbay Peru SAC.
Birch Hill Equity Partners
Acted for Birch Hill Equity Partners in its acquisition of CCM Hockey from Adidas.
Plenary Health Phase 1C LP
Acted for Plenary Health Phase 1C LP in its approximately $685-million fixed-price contract to design, build, finance and maintain the Centre for Addiction and Mental Health (CAMH) Phase 1C redevelopment project in Toronto, Ontario. The redevelopment project will see the construction of approximately 655,000 square feet of new build space contained in two modern buildings along Queen Street West in Toronto. The project is expected to achieve a Leadership in Energy and Environmental Design (LEED) Gold certification for design excellence and sustainability.
Canada Pension Plan Investment Board
Acted for the Canada Pension Plan Investment Board (CPPIB) in its $1.175-billion acquisition of a 50% interest in Canadian office portfolio from Oxford Properties Group (Oxford). Oxford will continue to manage the properties on behalf of the partnership. The transaction brings the total size of the jointly owned Oxford-CPPIB office portfolio to over 12 million square feet.
Oxford Park Group
Acted for Oxford Park Group in the formation of PointNorth Capital LP, a fund that continued Oxford Park's strategy of making special situation investments. PointNorth targets investments in the debt and equity of Canadian companies that are experiencing financial or operational challenges, are in out-of-favour sectors or are otherwise in need of change. OMERS, one of Canada's largest pension plans, made a significant capital commitment to PointNorth.
Manulife Financial Corporation
Acted for the Manufacturers Life Insurance Company in connection with the establishment of credit facilities to finance the construction and long-term operations of the Aria Solar Project, a 9-MW ground-mount solar project located in Springwater, Ontario, which had been awarded a 20-year power purchase contract under Ontario's Feed-in Tariff Program.
Agnico Eagle Mines Limited
Acted for Agnico Eagle Mines Limited in connection with its successful acquisition by plan of arrangement of TSX-V listed company Soltoro Ltd. for total consideration of approximately $32 million, consisting of shares of Agnico Eagle, cash and shares of a newly-formed SpinCo. As a result of the transaction, Agnico Eagle acquired the exploration projects held by Soltoro in Jalisco State, Mexico, including the El Rayo silver-gold project.
Acted for Plenary Infrastructure ERMF GP, which was awarded a contract by Metrolinx to design, build, finance and maintain the new East Rail Maintenance Facility, a $859.2-million project located in Whitby, Ontario.