WM Capital, BASE Equity Partners close IWG privatization

IWG Technologies Inc. has completed previously announced plan of arrangement with WM Capital Management, Inc., as guarantor, and 1096777 B.C. Ltd., the acquirer, an entity controlled by BASE Equity Partners, L.P. and WM.

1096777 B.C. Ltd has acquired all of the issued and outstanding shares of IWG for $0.43 in cash per share for aggregate consideration of approximately $16.8 million.

PenderFund Capital Management Ltd. was the single laregest shareholder controlling approximately 16.2% of IWG outstanding shares.

Working Capital Corporation acted as financial advisor to IWG Technologies Inc. in connection with the transaction. McCullough O’Connor Irwin LLP and McMillan LLP acted as legal counsels to IWG and the purchaser respectively.

photo credit: IWG Technologies

Ted Liu

Ted Liu, M.Sc. (Mining, Queen's), MBA (Finance, Toronto), is the Editor of Private Capital Journal, CanadaMetals.ca, TechWire.ca, and the former Editor of Canadian Private Equity. Ted has been passionately tracking Canadian private capital industry since 1992, having most recently served as Research Director for The Canadian Venture Capital and Private Equity Association (CVCA).

Ted is the architect of CVCA infobase, and is the architect of CPE Media's Financings.ca, Canada's most sophisticated and advanced all private capital and public market financing database.