On April 29, 2015, Mitel Networks Corporation, a global leader in business communications, acquired Mavenir Systems, Inc., creating a global leader in converged IP communications. Mitel expects to expand its total addressable market by approximately US$14 billion by 2018, positioning the company to capitalize on increasing demand for 4G LTE services. In conjunction with the acquisition, Mitel completed financing of a US$710-million credit facility consisting of a US$660-million term loan maturing in April 2022 and an undrawn US$50-million revolving credit facility maturing in April 2020.
The Mitel team was led by Greg Hiscock (General Counsel) and Abi Sills (Assistant General Counsel). Osler, Hoskin & Harcourt LLP represented Mitel on all aspects of financing the transaction and as Canadian M&A counsel with a team comprising Craig Wright and Alex Gorka (M&A); Richard Borins, Michele Moss, Nathan Whitaker, Kevin Whittam and Marta Rochkin (financial services) and Paul Seraganian, Gregory Wylie and Jennifer Lee (tax). Paul, Weiss, Rifkind, Wharton & Garrison LLP represented Mitel as M&A counsel with a team comprising Adam Givertz, Stephen Lamb, Steve Centa, Didier Malaquin, Doron Beeri, Cara Grisin, Ian Hazlett, Eyal Peled, Sal Perrotto, Richard Quay, Andrea Quek, Justin Shuler, Rebecca Vaslianu and Kyle Zimmerman (corporate); Mena Kaplan, Scott McKinney and Malcolm Wells (intellectual property); Scott Sontag and Lee Hepner (tax); Andrew Gaines, Lisa Eisenberg, Craig Olshan (employee benefits); Bill O’Brien (environmental); Mitchell Berg, Peter Borock and Ruobing Chen (real estate); Richard Elliot (regulatory) and Andrew Gordon, Laura Bower, Daniel Mason and Matthew Stachel (litigation).
Mavenir Systems Inc. was represented by Melanie Klint, Associate General Counsel and by Alan Bickerstaff, Michael Sullivan and Matt Wade of Andrews Kurth LLP, as well as William Aaronson, Rachel Kleinberg, Jeffrey Crandall, Stephen Pepper, Joseph Hadley, Scott Luftglass, John Weinstein and Yitz Segal of Davis Polk & Wardwell LLP.
White & Case LLP represented the lenders in the US with a team comprising Scott Zemser, David Ridley, Corinne Milliken and Quan Zhou. Borden Ladner Gervais LLP represented the lenders in Canada with a team comprising Alec Zimmerman, Shane Pearlman, Brandon Evenson and Marian Bournas.