Looking back on 2021 | The transactions that marked the year
What a year for Langlois! Following the merger with Séguin Racine, Lawyers, our business law team has grown considerably. We now have over 40 members on the team, including 26 lawyers specializing in capital markets, mergers and acquisitions, real estate, and taxation.
In 2021, many prominent companies chose Langlois to assist them in their various transactions, both here and abroad. In the wake of a booming transactional market, the value of the transactions for which Langlois acted in 2021 totalled more than C$8 billion! This sum includes medium and large-sized transactions closed for clients operating in Quebec as well as multinationals.
Our firm is now well positioned to meet the business law needs of companies of all sizes and to handle any type of transaction. To learn about the team’s work over the past year, we invite you to read on and check out our website for more details.
- Capital markets
- Mergers and acquisitions
- Real estate
- Corporate and commercial sector
- Cross-border transactions
The capital markets were very active throughout 2021 and so was Langlois. Here is a representative sample of our work in this sector in 2021:
- Represented GardaWorld Security Corporation in its issuance of US$500 million in senior unsecured notes in the North American market.
- Represented a group of investors, including the Family office Code C, in a $60 million private investment in Vosker, a world leader in video monitoring technology.
- Represented Laboratoire LSL, an issuing pharmaceutical company, in connection with a private placement of $5 million worth of debentures with Industrial Alliance.
- Advised a Québec engineering company in the acquisition of a minority interest and a loan from an investment fund for a value of $15 million.
- Advised a borrower in setting up a $125 million syndicated loan.
- Represented Fleming Capital Corporation in obtaining a bridge loan in support of a £3.6 billion hostile bid for the multinational G4S plc.
- Participated in the arrangement of a financing by the Fédération des Caisses Desjardins du Québec for a pig insemination center.
- Represented GardaWorld Security Corporation, a multinational, in connection with syndicated loans for US$450 million of additional credit facilities.
- Represented an issuer from Kenya in connection with the private placement of secured notes worth US$20 million in the African market.
- Represented issuer Imperial Mining Group, a public scandium exploration company, in several private placements for a total value of more than $7.4 million.
Mergers and acquisitions
2021 was a record year for mergers and acquisitions across Canada and particularly in Quebec. Here is a representative sample of our work in this sector in 2021:
- Advised Sesami Technologies in its various acquisitions in the United States and Europe worth nearly $900 million.
- Represented The Green Organic Dutchman Holdings Ltd. in the sale of the majority of the assets of its subsidiary located in Valleyfield (industrial and agricultural land, greenhouses, support buildings and related equipment) for $27 million.
- Advised Whelan Corporation in the purchase of assets in the United States valued at over US$70 million.
- Advised iGuzzini illuminazione S.P.A., a global leader in architectural lighting, in its repurchase of the shares of a European lighting systems distributor.
- Represented Fleming Capital Corporation in its £3.6 billion hostile bid for the multinational G4S Plc.
- Advised Signalisation GW in the purchase of a service company with operations across the province of Quebec for nearly $10 million.
- Assisted a Japanese law firm in the sale of shares of a company specialized in cryptocurrency mining with two centres in Quebec for nearly $7 million.
- Advised a strategic buyer in the approximatively $50 million purchase of Liberty Group, a leading Canadian alarm services company.
- Advised a buyer in the purchase of a company specializing in the preparation and online sale of ready-to-eat food and meals for $6 million.
- Advised the sellers of all the shares of an industrial products retailer for $26 million.
- Advised a major Quebec manufacturer in its acquisition of a competitor for $11 million.
- Advised Pelican International in its acquisition of a U.S. company specializing in inflatable kayaks for US$10 million.
- Advised an engineering company in the acquisition of a minority interest by an investment fund valued at $15 million.
- Advised a buyer in the purchase of a company specializing in the production of architectural lighting in Quebec for $50 million.
An abundance of available capital and a favourable low interest rate environment made 2021 a pivotal year in the real estate and financing sector. Here is a representative sample of our work in this sector in 2021:
- Represented Pelican International in the negotiation of a commercial lease for a 250,000 sq. ft manufacturing warehouse in Varennes, Québec.
- Established a limited partnership with three investors to acquire a vacant lot in downtown Québec City to build an 82-unit rental building for $26 million.
- Established a limited partnership with nine investors to acquire a vacant lot in the Montcalm district of Québec City to build a 60-unit rental building and six townhouses for $32 million.
- Assisted a real estate developer in obtaining the required authorizations from the Ministry of Culture and Communications and a zoning change from Québec City authorities to build a 50-unit Airbnb hotel complex in Québec City’s Old Port for $22 million.
- Represented a real estate developer in the acquisition of several buildings in Old Québec for a total of $10 million.
- Assisted a private real estate investment trust in acquiring land in the Lévis region to build 500 residential rental units for a total investment of $250 million in four phases.
- Assisted a real estate developer in acquiring land to build 120 single-family homes in the northern suburbs of Québec City.
- Arranged financing by the Fédération des Caisses Desjardins du Québec for a pig insemination center.
- Assisted a real estate developer in acquiring land for redevelopment in downtown Québec City for $8 million.
Corporate and commercial sector
Despite the pandemic, Quebec companies are doing very well in several industries. Here is a representative sample of our work in this sector in 2021:
- Advised a public company in the industrial sector in connection with the conclusion of a service contract to supply parts for the operation and maintenance of its plants and equipment, worth several hundred million dollars.
- Assisted shareholders in a major corporate reorganization and the establishment of a restaurant industry strategic group.
- Advised a security systems installer in the negotiation of a major master service agreement worth several million dollars.
- Assisted the majority shareholders of a family business operating in the construction industry in the sale of their shares to other family members for $3.6 million.
- Assisted a client in the reorganization of its shareholdings in an auto body company worth $2.5 million.
In recent years, the firm has been expanding its practice with foreign companies. In 2021, we worked with several companies and handled significant transactions, including:
- Advised one of the largest cooperatives in France on increasing its investment and acquiring control of a Quebec dairy company, in parallel with a French public investment bank acquiring a stake in the enterprise.
- Advised a Dutch company—a leading steel supplier in the shipbuilding industry—in setting up a branch in Quebec and expanding its North American operation.
- Advised a Belgian company—a global leader in developing and marketing curtain fabrics for entertainment venues and other purposes—in setting up a branch in Quebec and expanding into North America.
- Advised a major Quebec-based manufacturer on all its acquisitions in Quebec and abroad, including the United States and Australia.
We look forward to working with you in 2022!