199 Bay St, Suite 4000, Commerce Court West, Toronto, ON
Year called to bar: 1996 (ON)
Michael is frequently recognized as one of Canada's leading M&A lawyers, having advised on many of Canada's highest-profile M&A transactions as well as numerous middle-market transactions over 25 years. Michael's practice focuses on international inbound as well as domestic merger & acquisition transactions. He acts for offerors, targets and significant shareholders on negotiated and unsolicited domestic and cross-border acquisition transactions. He has advised on many of Canada's highest-profile M&A transactions, including BHP Billiton/Potash, CNOOC/Nexen, Onex/WestJet and the Hudson's Bay privatization, as well as numerous middle-market transactions. Michael frequently acts for financial sponsors in both platform and roll-up transactions. Recent examples of his experience include advising Sycamore Capital on its acquisition of the Canadian businesses of Lowe’s Companies and Audax Capital on its sale of LifeMark to George Weston as well as its acquisition of Thermogenics. Michael also regularly acts for special committees and boards in connection with corporate governance matters, internal investigations and related party transactions.
On May 24, 2017, Swander Pace Capital, a leading private equity firm specializing in investments in consumer product companies, completed the sale of its significant equity stake in Kicking Horse Coffee to the Lavazza Group, who, with this transaction, holds an 80-per-cent interest in the company, which was valued at $215 million.
On June 21, 2017, Odyssey Investment Partners, LLC (Odyssey), a leading middle-market private-equity firm completed the sale of its shares of the parent company and certain subsidiaries of Safway Group (Safway) to Brand Energy & Infrastructure Services, Inc. (Brand).
On May 25, 2017, Sirius XM Canada Holdings Inc. completed its statutory plan of arrangement whereby all its shares were acquired by a corporation, 2517835 Ontario Inc., owned by Slaight Communications Inc., Obelysk Media Inc. and Sirius XM Radio Inc. Sirius XM Canada Holdings also announced that it will be redeeming all of its outstanding 5.625 per cent senior unsecured notes due April 23, 2021, at a redemption price equal to 102.813 per cent of the principal amount of the Existing Notes plus accrued and unpaid interest.
On May 1, 2017, all of the issued and outstanding common shares of Halogen Software Inc. (“Halogen”) were acquired by Saba Software Inc. (“Saba”), Vector Capital and its affiliates (“Vector”), and Michael Slaunwhite, Halogen’s founder, executive chairman and largest shareholder.
On June 1, 2016, Westport Innovations Inc. (Westport) and Fuel Systems Solutions, Inc. (Fuel Systems) completed a merger under Delaware law whereby Fuel Systems shareholders received 2.4755 common shares of Westport for each share of Fuel Systems common stock.
On November 5, 2015, Hydro One Limited, the largest electricity transmission and distribution company in Ontario, announced the closing of its initial public offering by way of secondary sale pursuant to which the Province of Ontario offered 81,100,000 common shares at $20.50 per share for total gross proceeds to the Province of approximately $1.66 billion. This was the biggest Canadian IPO in the last 15 years.
On December 31, 2015, Centric Health Corporation completed the divestment of its physiotherapy, rehabilitation and medical assessment businesses to an affiliate of Audax Private Equity, a member of the Audax Group, for $245 million plus up to $5 million in contingent consideration.
HealthLease Properties Real Estate Investment Trust (HealthLease) was acquired by Health Care REIT, Inc. (HCN) for $14.20 (US$13.01) per unit in cash, representing an aggregate transaction value of approximately $1 billion (US$950 million). HealthLease's portfolio consisted of 53 properties (14 in two Canadian provinces and 39 in eight US states) of seniors housing, post-acute care and long-term care facilities.