Altus Group Income Fund Acquires UK-based Edwin Hill

On October 1, 2007, Altus Group Income Fund completed its acquisition of Edwin Hill, a top-performing national property consulting partnership in the United Kingdom. The acquisition was completed for aggregate consideration of approximately $54,000,000. Altus financed the acquisition with cash and equity issued from treasury, the cash being raised from cash on hand and a new credit facility of $82,500,000. The acquisition of Edwin Hill marks the first international acquisition by Altus, which has grown rapidly across Canada since going public in 2005.

Altus was represented in-house by its general counsel, Rose Oushalkas. Altus' external Canadian counsel was Goodmans LLP with a team led by Kari MacKay and including Ryan Szainwald, Jaclyn Seidman and Lee Waxberg (corporate/M&A); Celia Rhea and Greg Aronson (banking); Alan Bowman and David Veneziano (tax). Altus' external UK counsel was Bird & Bird led by Simon Fielder.
Edwin Hill was represented by Wedlake Bell in the UK with a team led by Tony Lane and including Tim Bird, Julian Yew, Richard Isham and Robin Dabydeen.

Bank of Montreal, agent for the lenders, was represented in Canada by Fraser Milner Casgrain LLP by Michael Wunder and Heidi Clark with the assistance with Kevin von Bargen and Cynthia Hickey, and by Neil Katz for Quebec matters, and in the UK by Simon Babar and Andrew Spence of Lovells LLP.