Borealis and Kilmer Acquire Vansco Electronics

On September 3, 2004, Borealis Private Equity Limited Partnership, Borealis (QLP) Private Equity Limited Partnership and Kilmer Capital Fund LP teamed up to acquire the assets and undertaking of Winnipeg-based Vansco Electronics Ltd., a designer, manufacturer and distributor of electronic controls and technology for use in the agricultural and construction equipment, recreational and military vehicle, and bus and truck market sectors. The acquisition, the amount of which was undisclosed, was effected through a newly-formed Manitoba limited partnership, Vansco Electronics LP.

Borealis, Kilmer and the Vansco Electronics LP were represented by McMillan Binch, Stikeman Elliott and Thompson Dorfman Sweatman. The McMillan Binch team was led by Chris Germanakos and Ted Scott, and included Pollyanna Lord, Mary-Ann Haney, Laura Stoddard and Ryan Morris (tax), James Doris and Susan Nickerson (pensions), John Clifford and Neil Campbell (competition), Andrea Onn and David Slan (real estate), Mike Peterson and Holly Agnew (environment), Bruce McWilliam (technology), Stéphane Thiffeault (employment) and Jamie Wilks (commodity tax). The Stikeman Elliott team was led by Samantha Horn in Toronto, and included Geneviève Lavertu in Montreal and Eugene Derenyi in Ottawa. The Thompson Dorfman team was led by Doug Forbes, and included Elmer Gomes, Robin Kersey, Adrian Frost and Barry MacTavish.

The vendor and founders, Ed and Terry Van Humbeck, were represented in Winnipeg by D’Arcy & Deacon, with a team led by Richard Rice, which included Michael Willcock, Roger Gripp, Jonathan Goldenberg and Michael Werier; and by special counsel Cy Fien, Jody Langhan, Don Bowes, Derek Cumming and Kelly Beattie of Fillmore Riley.

Vansco management was represented by James Ferguson of Aikins, MacAulay & Thorvaldson.
On the financing, Borealis and Kilmer were represented by Edward Ra, Michael Hollinger and Richard Goodman of McMillan Binch.

The Bank of Nova Scotia, which provided financing on the acquisition, was represented by Fasken Martineau DuMoulin with a team that included Brian Wright, John Torrey, David Johnson and Mark Camilleri (banking), Dan Law (real estate), Rosalind Cooper (environmental) and Mitchell Thaw (taxation).