Birch Hill Equity Partners Acquires Sleep Country Canada Income Fund

On September 24, 2008, 7019416 Canada Inc., an acquisition company formed by Birch Hill Equity Partners Management Inc. and Westerkirk Capital Inc., completed the acquisition of Sleep Country Canada Income Fund in a transaction valued at approximately $356 million. The acquisition was implemented by way of a takeover bid for all of the issued and outstanding units of Sleep Country Canada Income Fund, at a price of $22 per unit.

Birch Hill's legal team was led in-house by Lori Evans, general counsel. Birch Hill was also represented by Stikeman Elliott LLP with a team that included Rod Barrett, David Weinberger, Michael Burkett and Jeremy Ehrlich (corporate/ securities), and Craig Mitchell and Sarah Horan (banking).

Sleep Country was represented by a legal team from Davies Ward Phillips & Vineberg LLP that included Jay Swartz, Mindy Gilbert, Jennifer Grossklaus, Aaron Hunter, and Kateryna Yason (corporate/securities); Derek Vesey and Chrissy Giannoulias (corporate/banking) and Daniela Liscio (US corporate/banking).

The special committee of the board of trustees of Sleep Country was represented by Goodmans LLP with a team that included Jonathan Lampe, Robert Vaux and Brad Ross (corporate) and Jarrett Freeman (tax).

The Toronto-Dominion Bank provided acquisition financing for the transaction and was represented by a legal team from Osler, Hoskin & Harcourt LLP that included Michael Matheson and Tara Elliott (banking).