Trimac Income Fund completes C$90 million initial public offering
Torys acted as counsel to Ontario Teachers' Pension Plan Board, which disposed of its interest in Trimac's Canadian trucking business and Bulk Plus business as part of the transactions, with a team that included Matthew Cockburn and Michael Akkawi (corporate) and John Unger (tax).
On February 25, 2005, Trimac Income Fund completed its initial public offering of trust units for proceeds of approximately C$90 million. The offering proceeds were used by the fund to indirectly acquire interests in the Trimac Transportation Services bulk trucking business in Canada and the Bulk Plus transportation logistics business in North America. The Trimac corporate structure was extensively reorganized as part of the transactions.
The offering was underwritten by a syndicate of underwriters led by TD Securities and RBC Capital Markets and including Sprott Securities, CIBC World Markets, Scotia Capital and First Associates Investments.