Date Closed

November 30, 2018

Lead Office

Toronto

Value

1.48 Billion USD

On November 30, 2018, Searchlight Capital Partners, L.P. acquired Mitel Networks Corporation. Credit Suisse AG, Cayman Islands Branch as administrative and collateral agent and a syndicate of lenders provided US$1.38 billion in debt financing and US$100 million senior secured revolving facility to Searchlight Capital Partners, L.P. Credit Sussie Loan Funding LLC, BMO Capital Markets Corp., and TD Securities (USA) LLC acted as Joint Lead Arrangers and Joint Bookrunners.The acquisition will help Mitel accelerate its move-to-the-cloud strategy and drive the next phase of its growth by utilizing Searchlight's expertise and financial resources. 

Mitel is a telecommunications company providing combined communications solutions for businesses. As a market leader in more than 100 countries, Mitel powers two billion business connections allowing its users to better connect and collaborate. Its move-to-the-cloud strategy aspires to support businesses in being more innovative, simplifying communication, staying flexible, agile and scalable while keeping costs down.

Searchlight Capital is a private investment firm operating across North America and Europe.

McCarthy Tétrault advised Credit Suisse AG with a team led by Justin Lapedus that included D.J. Lynde, Noel Chow, Stephen Curran, James-Scott Lee and Ana Badour (Financial Services), Christopher Langdon, Heba Al-Shakarchi, Alyssa Novoselac, Grant Buchanan and Eriq Yu (Business), James Gage (Bankruptcy and Restructuring), Stefanie Morand (Tax), Kelleher Lynch and Deron Waldock (Pensions).