On July 23, 2003, Illumina Partners Inc. acquired the majority of the assets of Silex Inc. through its wholly owned subsidiary of Mississauga, Ontario-based Silex Innovations Inc. The value of the deal is confidential. Silex Innovations specializes in the design, manufacture and supply of silencer applications and exhaust components.
Toronto-based Illumina, specializes in corporate turnarounds, with a primary interest in acquiring a significant equity position in small- to medium-sized companies that require repositioning, in order to leverage its extensive operational experience.
Silex Innovations and Illumina were represented by Davies Ward Phillips & Vineberg LLP, with a team that included Derek Vesey and Daniela Liscio. Segal & Partners Inc. in Toronto, acting as court appointed receiver and manager of the property and assets of Silex Inc., was represented by Fraser Milner Casgrain LLP with a team that included Shayne Kukulowicz, John Russo and Jane Percival.