On December 18, 2009, Ottawa-based Allen-Vanguard Corporation completed its recapitalization and acquisition by Contego AV Investments LLC, an affiliate of US private equity investment firm, Versa Capital Management, Inc. (collectively, "Versa"). The purchase price was not disclosed. On September 12, 2009, Allen-Vanguard announced that it had entered into an agreement with Versa and its senior secured lenders pursuant to which Versa would provide both equity and debt capital to Allen-Vanguard, become the 100% owner of the company and take the company private. The agreement provided for the restructuring and reduction of Allen-Vanguard's existing senior secured credit facilities and their replacement with a multi-year credit agreement, as well as a new revolving credit facility and documentary credit facility. On December 9, 2009, Allen-Vanguard commenced a court process for approval of the transaction under the Companies' Creditors Arrangement Act. A meeting of Allen-Vanguard's creditors was held the same day at which the CCAA plan was unanimously approved. A final hearing for Court approval of the transaction was held and concluded on December 16, 2009. The transaction closed on December 18, 2009. Allen-Vanguard manufactures and markets counter-terrorist equipment systems to governments and private-sector clients worldwide. The independent directors of Allen-Vanguard were represented by Fasken Martineau with a team that included Aubrey Kauffman and Jon Levin.