Alectra’s acquisition of Hydro One Brampton was named “Infrastructure & Utilities Deal of the Year” for 2017 at last Friday’s Canadian Dealmaker’s Awards. Gowling WLG is proud to have advised Alectra and its predecessor PowerStream on the CDN$607-million acquisition from the Province of Ontario.
Following the acquisition, which closed on Feb. 28, 2017, Alectra is now the largest municipally owned electricity utility in Canada (based on the total number of customers served), and the second-largest municipally owned utility in North America. Alectra itself was formed on January 31, 2017, as a result of the three way merger between PowerStream, Enersource, and Horizon Utilities .
Gowling WLG’s Alectra team was composed of Robert Hull, Edward Johnston, Leila Burden Nixon, Sachin Seth, Paul Carenza (tax), Cara Stoller and Andrew Zed. Hull, Carenza and Stoller attended the awards gala at Toronto’s Fairmont Royal York Hotel along with Paul Harricks, Ian Mondow, Sachin Seth, and David Torchetti.
Hosted annually by Lexpert in partnership with Deloitte, Thomson Reuters Financial, and The Globe and Mail, the Canadian Dealmaker’s Award honours the top deals from the previous years. Winners are chosen based on a number of criteria, including the overall financial soundness of the transaction, the impact on the success and/or transformation of the company, complexity of the deal, and overall excellence in the execution of the deal.
Members of Gowling WLG’s Canadian M&A Group serve as trusted advisers to a range of Canadian and multinational clients — both publicly traded and privately held — across all major industry sectors including energy. Combining legal knowledge and strategic acumen with an in-depth understanding of your business and sector, our top-tier professionals deliver tailored strategies designed to maximize you commercial opportunity.