EdgeStone Capital Partners’ Equity Fund, together with an individual entrepreneur, acquired Richards Packaging Inc., a manufacturer and distributor of glass and plastic bottles throughout Canada and the U.S. The deal, arranged by Newpoint Capital Partners, closed on November 22, 2002, and its value is undisclosed. In addition to the equity funding provided by the fund and the individual entrepreneur, financing for the transaction was provided by a senior debt facility from LaSalle Business Credit/ABN AMRO Bank and a mezzanine debt facility, which was jointly funded by Crown Capital Partners Inc. and EdgeStone’s Mezzanine Fund.
Torys LLP acted for the equity fund and the acquisition vehicle on the acquisition, the equity placement and the senior and mezzanine credit arrangements, with a team that included Cameron Koziskie, Rose Bailey, Scott Kraag, Jamie Koumanakos, Erin Toole and Vicki Carrier, and assisted by Steve Donovan (corporate), Jane Helmstadter (real property), John Unger (tax), Dennis Mahony (environmental) and Christina Medland (employment). Lipman, Zener & Waxman LLP in Toronto represented the vendors of Richards Packaging, with a team that included Allan Lipman, Brad Miller and Melissa Lipman, assisted by Myles Waxman (real property).
Borden Ladner Gervais LLP represented LaSalle Business Credit/ ABN AMRO on the senior debt facility, with a team that included Frank Callaghan, Howard Silverman, Simon Wormwell and Carlyn Klebuc, with Daniel Gendron assisting on Quebec issues. Bruce Berning and Michael Fletcher of Tonkon Torp LLP in Portland, Oregon acted for the senior lenders in the U.S. Goodmans LLP represented Crown Capital and EdgeStone’s Mezzanine Fund on the mezzanine debt facility, with a team that included Jean Anderson, David Wiseman, Shauna MacDougall, Donald Henderson and Caroline Goss.