ONCAP Completes $155M Sale of CSI Global Education to Moody's

On November 22, 2010, ONCAP completed the sale of CSI Global Education Inc. (“CSI”), Canada's leader in financial education and testing services, to Moody's Corporation in a transaction valued at approximately $155 million.

ONCAP is the mid-market private equity platform of Onex, one of North America's oldest and most successful investment firms committed to acquiring and building high-quality businesses in partnership with talented management teams. Onex manages investment platforms focused on private equity, real estate and credit securities. In total, Onex manages approximately US$13 billion.

CSI is a leading provider of financial learning, credentials and certification in Canada, providing courses in finance, securities, mutual funds, financial derivatives and wealth management. CSI is also the exclusive provider of the required course for qualification as a licensed securities dealer in Canada.

Moody's is the parent company of Moody's Investors Service, which provides credit ratings and research covering debt instruments and securities, and Moody's Analytics, which offers software, advisory services and research for credit and economic analysis and financial risk management.
ONCAP and CSI were represented by Goodmans LLP with a team led by Susan Garvie and including Ryan Szainwald and Daniel Mahler (corporate/M&A); Jon Northup and Jarrett Freeman (tax) and Jana Steele (pensions & benefits).

Moody's was represented in Canada by Davies Ward Phillips & Vineberg LLP with a team that included Darren Wasylucha and Anthony Spadaro (corporate/M&A); Mark Katz and Anita Banicevic (competition); Christopher Anderson (tax) and Natasha vandenHoven (pensions & benefits); and in the US by Simpson Thacher & Bartlett LLP with a team that included Gary Horowitz, Patrick Dowd and Matthew Rogers, Kate Renaud and Louis Pastor (M&A); Lori Lesser and Mindy Lok (intellectual property) and Nancy Mehlman and Seojung Park (tax).

The Bank of Nova Scotia, as administrative agent to the Bank of Nova Scotia and Bank of Montreal, was represented by Fasken Martineau DuMoulin LLP with a team that included John Torrey and David Ferris (banking & finance).

Lawyer(s)

Ryan Szainwald David H. Ferris Mark C. Katz Natasha A. vandenHoven Jarrett Freeman Gary I. Horowitz John W. Torrey Anita Banicevic Jana Rae Steele Susan A. Garvie Daniel Mahler Anthony Spadaro Jon Northup Christopher Anderson

Firm(s)

Goodmans LLP Davies Ward Phillips & Vineberg LLP Simpson Thacher & Bartlett LLP Fasken Martineau DuMoulin LLP