Armtec Infrastructure Inc. Completes Sale of Business

Goodmans LLP represented the leading infrastructure and construction materials enterprise Armtec Infrastructure Inc. and its affiliates ("Armtec") in the completion of a going-concern sale of substantially all of its assets to Armtec LP, an affiliate of Brookfield Capital Partners Fund III L.P. ("Brookfield"), in exchange for a release from approximately $200 million in secured debt obligations owing to Brookfield.  The transaction was completed pursuant to an asset sale under the Companies Creditors Arrangement Act ("CCAA").

The transaction resulted in the continuation of the Armtec business without disruption, the assumption of all employees and employee obligations, and the assumption of all trade obligations, ultimately resulting in a highly successful outcome for the Armtec business and many of its stakeholders.