J2 Management Acquires A.G. Simpson Automotive

On December 13, 2002, J2 Management Corp. completed its acquisition of all the outstanding shares of A.G. Simpson Automotive Inc. This acquisition followed the successful restructuring of A.G. Simpson Automotive and A.G. Simpson Co. Ltd. under the Companies’ Creditors Arrangement Act and A.G. Simpson’s U.S. subsidiaries under Chapter 11 of the U.S. Bankruptcy Code, as well as a corporate reorganization of A.G. Simpson Automotive.

In connection with the share acquisition, J2 Management received acquisition financing and ongoing operating financing from GMAC Commercial Credit Corporation – Canada and GMAC Business Credit LLC in the aggregate amount of approximately $38 million.

Fraser Milner Casgrain LLP acted for J2 Management, with a team that included Jeff Barnes, Jim Janetos, Ted Shoub and Josh Yarmus (corporate), Joseph Marin and Heidi Clark (banking) and Brian Carr, Leila Dabir and Zahra Nurmohamed (tax).

In Canada, A.G. Simpson was represented by in-house counsel Lisa Boulton and Michael Tile, and by Davies Ward Phillips & Vineberg LLP with a team that included Jay Swartz, Cameron Rusaw, Tarne Whiteley and Raphael Pollak (corporate/insolvency), Matthew Gottlieb and Matthew Milne-Smith (litigation), David Dell and Yoon Han (real estate) and Colin Campbell and Siobhan Monaghan (tax). In the U.S., A.G. Simpson was represented by Robert Weisberg and Christopher Grosman of Carson, Fischer.

Paul Mills, Q.C., of Mills & Mills LLP, Carolyn Kolers of Goodman and Carr LLP, Richard Wozenilek of WeirFoulds LLP and Michael Rotsztain of Torys LLP represented the individual shareholders of A.G. Simpson Automotive.

GMAC Commercial Credit and GMAC Business Credit were represented in the U.S., by Honigman Miller Schwartz and Cohn LLP with a team led by Donald Baty, Jr., and in Canada, by Steven Weisz and Simon Finch of Blake, Cassels & Graydon LLP.