Skip to main content

PLEASE NOTE: For everyone’s safety, Fasken recommends anyone on-site at our Canadian offices be familiar with the COVID-19 recommendations in place which may include one or more of the following: social distancing, hand sanitizing, wearing a mask in common areas and proof of full vaccination. These measures apply to lawyers, staff, clients, service providers and other visitors.

Client Work

Cossette acquired by Mill Road Capital in US$115 million deal

Fasken
Reading Time 2 minute read Subscribe

Overview

Client

Cossette Communication Group Inc.

On December 23, 2009, Mill Road Capital, L.P., a Connecticut-based private equity fund, completed its acquisition of Cossette Inc. by way of an amalgamation between Cossette and an indirect subsidiary of Mill Road. The entity resulting from the transaction will continue as Cossette Inc. The acquisition price of approximately $115 million ($8.10 per share) was financed through a combination of an equity contribution by Mill Road, roll-over equity contributions by senior management of Cossette, senior secured credit facilities provided by Bank of Montreal and an equity contribution and mezzanine debt financing by BMO Capital Corporation. The transaction was the result of a bid process coordinated by BMO Capital Markets, Cossette's financial advisors. Mill Road's all cash offer prevailed over a hostile takeover bid that had been made by a group led by Cosmos Capital Inc. Cossette is a leading marketing and communications company, with offices in Québec City, Montreal, Toronto, Vancouver, Halifax, New York, Irvine, Los Angeles, London and Shanghai, offering a full range of leading-edge communication services to clients of all sizes, including some of the most prestigious brands in the world. Cossette's team was led by Kimberley Okell, Vice President, Legal Affairs and Corporate Secretary, and assisted by Fasken Martineau with a team comprised of Robert Paré, Marie-Josée Neveu, Catherine Isabelle, Frédéric Boucher, Pierre-Étienne Simard, Jean Michel Lapierre and Jean-François Séguin (M&A and corporate), Gilles Carli, Alain Ranger and Thomas Copeland (tax), Douglas New (regulatory), Louis Bernier, Jasmin Marcotte and Lyne Duhaime (labour) and Pierre Lefebvre, Eleni Yiannakis and Juliana Fox (litigation).

Team

    Subscribe

    Receive email updates from our team

    Subscribe