OTPPB and Affiliate Invest in Neptune Technology Group

On April 1, 2003, the Ontario Teachers’ Pension Plan Board (OTPPB) and its affiliate, York Street Mezzanine Partners, L.P., invested in Neptune Technology Group Inc. OTPPB co-invested with a syndicate of investors led by CSFB unit Donaldson, Lufkin & Jenrette. The aggregate investment by the syndicate was US$100 million. The investment involved the acquisition of senior subordinated notes, which incorporated both traditional mezzanine debt and high-yield features, and convertible preferred stock. The investment will give the investors collectively a 20 per cent equity interest in the company, which remains controlled by Investcorp.

OTPPB was represented by Torys LLP, under the direction of in-house counsel Michael Padfield. The Torys team included Joseph Romagnoli, Mike Amm, Peter Keenan and Stephanie Weissglas.
Investcorp and Neptune Technology Group were represented by Gibson, Dunn & Crutcher LLP, with a team that included Michael Greaney, Joerg Esdorn, Frederick Walters and Anne Cox in New York and Matthew Pirnot in Los Angeles. Donaldson, Lufkin & Jenrette was represented by Latham & Watkins LLP, with a team that included Steven Della Rocca, Ian Blumenstein, David Blue and James Barri in New York.