Andlauer Healthcare Group Acquires 100% of Boyle Transportation and Remaining 51% of Skelton USA
|Areas||Banking and Finance Law, Corporate Finance and Securities|
Goodmans LLP acted for Andlauer Healthcare Group Inc. (TSX: AND) ("AHG" or the "Company") in connection with its acquisitions (the "Acquisitions") of 100% of T.F. Boyle Transportation, Inc. ("Boyle Transportation") and 51% of Skelton USA Inc. ("Skelton USA"), increasing AHG's aggregate ownership of Skelton USA to 100%.
The purchase price for Boyle Transportation was approximately US$80 million (subject to customary purchase price adjustments) and was satisfied through the issuance of 522,116 subordinated voting shares and cash of approximately US$60 million. The purchase price for the 51% interest in Skelton USA was approximately C$50 million and was satisfied through the issuance of 518,672 subordinated voting shares and cash of approximately $25 million. AHG financed the cash portion of the purchase price for the Acquisitions with the proceeds of its recently completed equity offering.