News  ›  Article

Farris LLP: Vancouver's Law Firm

News

01 September 2010

David Selley and Mohammad Manki Act for ComWest Enterprise Corp. in $22 million business acquisition

Farris partner David Selley along with Mohammad Manki and James Campbell assisted their client ComWest Enterprise Corp. in financing and closing a $22 million acquisition of Winnipeg-based Peerless Garments LP, Canada’s leading manufacturer of protective harsh weather outerwear for military personnel.  Founded in 1940, Peerless is the leading supplier of severe weather garments to the Canadian Forces.

TSX Venture Exchange listed company ComWest acquired a 90% interest in Peerless from TSX-listed Newport Partners Income Fund.  The acquisition was financed by way of secured term and operating loan facilities provided by a Canadian chartered bank and by a private placement of $6 million of units of ComWest consisting of common shares and warrants exercisable for convertible preferred shares.

‹ Back

E-Newsletter