Transactions & Cases Detail
Toromont buys Hewitt Group for C$1.0177B
Real Property / Construction
1.0177 Billion CAD
On August 28, 2017, the Hewitt Group announced that it has entered into a definitive agreement to sell its businesses and net operating assets to Toromont Industries Ltd. in exchange for consideration of C$917.7 million cash plus the issuance of 2.25 million Toromont shares (nominally C$100 million based on 10 day average share price as at signing) for a total consideration of C$1.0177 billion.
Hewitt Equipment Limited is the authorized Caterpillar dealer for the province of Québec, Western Labrador and the Maritimes, as well as the Caterpillar lift truck dealer for most of Ontario. It is also the MaK dealer for Québec, the Maritimes and the Eastern seaboard of the United States, from Maine to Virginia.
McCarthy Tétrault LLP acted as legal and strategic advisor to the Hewitt Group with a team led by David McAusland, Karl Tabbakh and Hadrien Montagne, that included Louis-Charles Filiatrault, Bianca Déprés, Thomas Etienne, Tamara Shabazova (Corporate), Cindy Vaillancourt, Selina Lee-Andersen (Environment), Jacques Rousse, Lorraine Allard, Diana Theophilopoulos (Employment/Pension Plan), Sébastien Thomas (Real Estate), Marie-France Gagnon, Étienne Guertin and Eve Tessier (Financing).