On June 4, 2007, the Canadian building materials distribution division of Weyerhaeuser Company Limited was acquired by private investment firm Platinum Equity, LLC through a Canadian subsidiary named Broadleaf Logistics Company. As part of the leveraged acquisition, Broadleaf Logistics Company closed an asset-based revolving credit facility in an aggregate amount of $155 million. The revolving credit facility was provided by CIT Business Credit Canada Inc., as agent, and by a syndicate of lenders including CIT Business Credit Canada Inc., Bank of America, N.A. (acting through its Canada branch), Wachovia Capital Finance Corporation (Canada) and Wells Fargo Foothill Canada, ULC.
Platinum Equity, LLC and Broadleaf Logistics Company were represented in Canada by Stikeman Elliott LLP with a team consisting of Jamie Davis and Kelly Niebergall and in the United States by McGuireWoods LLP with a team consisting of Gary Samson and Matthew Wrysinski.
CIT Business Credit Canada Inc., as agent, was represented by Ogilvy Renault LLP with a team consisting of Kevin Morley, David Amato and Cerise Latibeaudiere.