Insight Equity completed its acquisition and simultaneous combination of A.P. Plasman Inc. and Invotronics Inc. The purchase price was not disclosed. In connection with the transaction, A.P. Plasman Inc. and Plasman Corp LLC also closed an asset based revolving credit facility entered into by A.P. Plasman Inc., as Canadian Borrower, Plasman Corp LLC, as U.S. Borrower, and Bank of America, N.A. (acting through its Canada branch), as agent acting for itself and on behalf of a syndicate of lenders. A.P. Plasman Inc. and Plasman Corp LLC also entered into a term credit facility with GSO Capital Partners and a syndicate of lenders. As a result of the acquisition, Insight Equity holds a controlling interest in the combined entity with management maintaining a meaningful ownership position.
Insight Equity was represented by Goodmans LLP in Canada with a team that included Michael Partridge, Ryan Szainwald, Chat Ortved and Shazia Banduk (corporate); Celia Rhea, Vanessa Yeung, Derek Bulas, Cathy Costa, Lianna Yeung (banking); David Veneziano and Kenneth Saddington (tax); Tom Macdonald (real estate/environmental); Jana Steele (pensions & benefits); Amalia Berg Trister (IP) and Michelle Dobranowski (employment & labour); and by Hunton & Williams LLP in the US with a team that included Sean Ducharme, Brian Hager and Megan Kaufman (corporate); Alex McGeoch (tax); Kimberly Magee and Hillary Peet (banking) and J.C. Chenault (employment and labour).
A.P. Plasman and APP Capital Inc. were represented by Friedman & Associates LLP in Canada with a team that included William Friedman and Mitchell Finkelstein (corporate); and in the US by Warren Matthews of Burr & Forman LLP.
Invotronics was represented by Morrison Brown Sosnovitch LLP in Canada with a team that included Wes Brown and Samantha Chapman (corporate).
GSO Capital Partners was represented by McCarthy Tétrault LLP in Canada with a team that included Richard Higa, Justin Lapedus, Heidi Gordon and David Jachimowicz; and in the US by King & Spalding LLP with a team that included Michael Rupe (financial restructuring); Todd Holleman, Brett Moskowitz, Mary Santanello, Tyler Wolf and Deborah Enea (finance) and Rick Bange and Maggie Drozd (corporate).
Bank of America, N.A. (acting through its Canada branch) was represented by Norton Rose Canada LLP in Canada with a team that included Kevin Morley, Serge Levy, John Naccarato, Aditya Rebbapragada, Carla Machado and Keldeagh Lindsay; and in the US by Goldberg Kohn Ltd., with a team that included Joel Brown and Laura Jakubowski.