Certarus Ltd. completes acquisition by Superior Plus Corporation for C$1.05B
May 31, 2023
1.05 Billion CAD
On May 31, 2023, Certarus Ltd. ("Certarus") completed their previously announced definitive arrangement agreement to be acquired by Superior Plus Corporation ("Superior") for C$1.05 billion. Superior will acquire all the outstanding common shares of Certarus and the Certarus shareholders will receive C$353 million in cash and C$500 million of Superior common shares priced at $10.25 per share, representing approximately 17% pro forma ownership.
Certarus Ltd., based in Calgary, Alberta provides on-road low carbon energy solutions through a fully integrated CNG, renewable natural gas and hydrogen platform.
Superior Plus Corporation, based in Toronto, Ontario, is a distributor and marketer of propane and distillates and related products and services, servicing over 890,000 customer locations in the U.S. and Canada.
McCarthy Tetrault advised Certarus with a team led by Jason Gudofsky that included Michael Caldecott, Niki Iatrou, Gideon Kwinter, Erin Keogh (Competition).