GMP Capital Inc. (GMP) (TSX: GMP) completed the acquisition of FirstEnergy Capital Corp. (FirstEnergy), an industry leader in the global energy sector. The combination of GMP and FirstEnergy creates a premier franchise in the global energy and Canadian independent brokerage spaces.
Concurrent with closing, GMP combined its existing energy franchise with FirstEnergy, and rebranded the franchise as GMP FirstEnergy.
On closing, GMP issued 11,161,671 GMP common shares to FirstEnergy shareholders, with the remaining balance of the consideration to be paid to FirstEnergy shareholders in the form of a five-year promissory note. A significant portion of the common shares issued to FirstEnergy shareholders are subject to an escrow agreement and will vest over a four-year period.
GMP is a leading independent diversified financial services firm headquartered in Toronto, Canada, providing a wide range of financial products and services to a global client base.
GMP FirstEnergy is an industry leader in the global energy sector providing financial advisory and investment services to a broad range of corporate clients and sophisticated investors worldwide.
GMP was represented in-house by Krista Coburn, General Counsel and assisted by Goodmans LLP with a team that included Francesca Guolo, Kari MacKay, Robert Vaux, Andrea Tsoulogiannis and Resa Jacob (corporate), Jon Northup and Ken Saddington (tax), Richard Annan (competition) and Amalia Berg (IP).
FirstEnergy was represented by Burnet, Duckworth & Palmer LLP with a team that included Grant Zawalsky, Kelsey Clark, Lindsay Cox and Paul Mereau (corporate), Denise McMullen (tax), Gina Ross (employment), Jody Wivcharuk (competition) and George Wowk (IP).