Transactions and Cases

Alinda Capital Partners completes C$1.74 billion acquisition of UE Waterheater Income Fund

Torys represented Alinda Capital Partners with a team that included James Scarlett, Krista Hill, Bernays Barclay, Allen Yi, Kelly Kwan, Adam Slavens and Beverley Liske (M&A); Corrado Cardarelli (tax); Adam Delean, Tom Zverina and Milosz Zemanek (debt financing); Mitch Frazer, Stacey Parker-Yull and Tara Sastri (pension and employment); Kim Kowalik and Danielle Townley (real estate); Eric Boehm, Tanya Baytor and Teresa Reguly (IP and technology); Michael Fortier (environmental); Jay Holsten and Sue-Anne Fox (competition); Phil Mohtadi (Investment Canada); and Bill Estey (research).

On June 28, 2007, Alinda Capital Partners LLC completed its acquisition of all of the assets of UE Waterheater Income Fund (TSX: UWH.UN) for approximately C$1.74 billion. The transaction followed Alinda's April 16 announcement that it had entered into a definitive agreement to acquire UE Waterheater Income Fund, including UE's previously announced acquisition of Voxcom Income Fund, an Edmonton-based owner of security alarm services. Alinda Capital Partners is a privately held investment firm based in New York that specializes in investments in infrastructure assets. RBC Capital Markets provided financial advice to Alinda Capital Partners on the transaction. UE Waterheater Income Fund, based in Toronto, indirectly held, through UE Waterheater Operating Trust, the water heater rental business of Union Energy LP and its related commercial activities.