Mergers and Acquisitions

iCON Infrastructure in its agreement to acquire Capstone Infrastructure for $480 million

iCON Infrastructure
Key Contact
Christopher Murray

Partner, Corporate, Toronto

Team
Alex Gorka

Partner, Corporate, Toronto

Justin Dharamdial

Partner, Emerging and High Growth Companies, Toronto

Joyce M. Bernasek

Partner, Financial Services, Toronto

Marta Rochkin

Partner, Financial Services, Toronto

Jacob A. Sadikman

Partner, Commercial, Toronto

Elliot A. Smith

Partner, Construction & Infrastructure, Toronto

Marissa Kirsh

Partner, Project Finance, Toronto

Firoz Ahmed

Partner, Tax, Toronto

Kaeleigh Kuzma

Partner, Competition/Antitrust and Foreign Investment, Calgary

On January 20, 2016, Irving Infrastructure Corp., a subsidiary of iCON Infrastructure Partners III, L.P., a fund advised by UK-based iCON Infrastructure LLP, entered into a definitive arrangement agreement with Capstone Infrastructure Corporation. iCON Infrastructure is an independent investment firm focused on investments in infrastructure businesses across Europe and North America with over €1 billion under management.

The agreement provides for the acquisition of all issued and outstanding common shares of Capstone and Class B exchangeable units of Capstone’s subsidiary MPT LTC Holding LP for $4.90 cash per share or unit, as applicable. The acquisition will be completed by way of a plan of arrangement under the British Columbia Business Corporations Act. The total equity value of the transaction is approximately $480 million.

Osler is representing iCON with a team led by Christopher Murray and included Alex Gorka, Justin Dharamdial, Daniel Fombonne and Michele Qu (Corporate); Joyce Bernasek and Marta Rochkin (Financial Services); Jacob Sadikman, Elliot Smith and Marissa Kirsh (Construction); Firoz Ahmed and Drew Morier (Tax); Peter Glossop and Kaeleigh Kuzma (Competition).

Value
$480 million
Date Closed
April 29, 2016
Lead Office
Toronto
Key Contact
Christopher Murray

Partner, Corporate, Toronto

Team
Alex Gorka

Partner, Corporate, Toronto

Justin Dharamdial

Partner, Emerging and High Growth Companies, Toronto

Joyce M. Bernasek

Partner, Financial Services, Toronto

Marta Rochkin

Partner, Financial Services, Toronto

Jacob A. Sadikman

Partner, Commercial, Toronto

Elliot A. Smith

Partner, Construction & Infrastructure, Toronto

Marissa Kirsh

Partner, Project Finance, Toronto

Firoz Ahmed

Partner, Tax, Toronto

Kaeleigh Kuzma

Partner, Competition/Antitrust and Foreign Investment, Calgary