Ultra Electronics Acquires MilComm

On September 27, 2002, Ultra Electronics Holdings plc, the U.K.-based aerospace and defence electronics group, acquired all the issued share capital of CMC Electronics Military Communications Inc. (MilComm), a Montreal-based supplier of UHF military radios and systems, from CMC Electronics Inc. Cash consideration was $52.9 million, subject to certain adjustments. Financing for the purchase was satisfied by a loan from Barclays Bank plc.

Ultra Electronics was represented by Stikeman Elliott, with a team that included John Leopold, Kevin Kyte, Peter Castiel, Adam Atlas and Richard Farris (corporate), Robert Hogan and Marie-Andrée Beaudry (tax), Michel Legendre and Gary Nachshen (pensions and benefits), Josée Gravel (real estate), Monique Lussier (environment), Patrick Essiminy and Mireille Bergeron (employment) and Jason Gudofsky and Debbie Salzberger (regulatory).

CMC was represented by in-house counsel Jean-Denis Roy and Maria Balafoutis, by Torys LLP with a team that included Stephen Donovan, Donna Parish, Michael Akkawi, David Nowak and Guy Berman (corporate), John Unger (tax), Len Griffiths and Dennis Mahony (environmental), Robin Coster (intellectual property) and Jay Holsten (antitrust and competition), and by Ogilvy Renault in Montreal with a team that included Norman Steinberg and Dominique Fortin (corporate), Miguel Manzano (real estate), Martin Rochette (pensions and benefits) and Louise Laplante and Gilles Touchette (employment).