Transaction|July 6, 2007
Canada Cartage Diversified Income Fund completes sale of CCD LP to Nautic Partners VI
Torys acted as counsel to Canada Cartage with a team that included Jamie Scarlett, Aaron Emes, Andrew Prodanyk and Melissa Ewert (corporate), Corrado Cardarelli and Richard Johnson (tax), David Dell, Kimberley Kowalik and Renée Laliberté (real estate), Dennis Mahony and Michael Fortier (environmental), Christina Medland and Mitch Frazer (pension and employment), Amanda Balasubramanian and Nadine Rockman Katz (lending), Jay Holsten (competition) and Philip Mohtadi (Investment Canada).
On July 6, 2007, Canada Cartage Diversified Income Fund (TSX: TRK.UN), a leading national provider of dedicated trucking services, completed the sale of a 67% interest in CCD LP to companies formed and indirectly owned by Nautic Partners VI, LP. In addition to the 67% that Canada Cartage Diversified Income Fund held, the fund also sold a portion of 33% of interests that had been held privately and by management. The total acquisition cost for the transaction was approximately C$140 million. Concurrently with the acquisition, new credit facilities were established with a syndicate of Canadian banks led by the Canadian Imperial Bank of Commerce. CCD is a national provider of transportation services, specializing in outsourced, customer-located, dedicated trucking services. Nautic Partners, LLC is a private equity firm based in Rhode Island that focuses on investments in business services, manufacturing, healthcare and communications.