TriWest acquires Broda Group

TriWest Capital Partners, in partnership with the senior management team, acquired Broda Group Inc. (formerly Broda Construction Inc.) from Stuart Olson Inc. by way of a combination of an acquisition of assets and shares. The purchase price was $39 million.

Broda is a heavy construction company specializing in earthwork and civil construction, aggregate processing and concrete production. Pursuant to the transaction, TriWest, one of Canada's leading private equity firms, acquired a majority interest in Broda and members of Broda's senior management team acquired a minority interest.

The Stuart Olson team consisted of David LeMay, Daryl Sands, Evan Johnston, Joette Decore, James Hirsch and Michael UnRuh. Norton Rose Fulbright Canada LLP acted as counsel to Stuart Olson, with a team led by Marcus Archer that included Dion Legge, Darren Hueppelsheuser, Danielle Maksimow, Bernette Ho, Bradley Schneider, Robert Joseph, Meredith MacDonald and Mario Babic.

Broda's management team was led by Gordie Broda and included Russell Clunie Jr. McDougall Gauley LLP acted as Canadian counsel to Broda's management team, with a team led by David McKeague, QC.

The TriWest team was led by Mick MacBean, Ryan Giles and Dave Connolly of TriWest. TriWest was represented by Bennett Jones LLP, with a team led by Bryan Haynes that included Karen Keck, Scott Bodie, Pat Brennan, Jim D'Andrea, John Batzel, Stephen Burns, Jeremy Russell, Adam Scrivens, Michael Ramsay and Kristopher Simard.

Alberta Treasury Branches provided certain credit facilities to assist in the acquisition. ATB was represented by Borden Ladner Gervais LLP, with a team led by Daniel Sears that included Shauna Crothers and Nolan Ritzel.