skip to main content





Back to all Representative Matters
Aug 5, 2014

A&B Advises on Sale of National Park’N Fly Car Park Business in Canada


The current owners of Canada’s largest off-airport and only national car park company, Park’N Fly, recently completed the sale of their parking business assets, including all real estate used in connection with the business located in Montreal, Ottawa, Toronto, Edmonton and Vancouver, along with goodwill and other operating assets, to a joint venture led by Cheung Kong Infrastructure Holdings Limited and Cheung Kong (Holdings) Limited, both companies whose shares are traded on the stock exchange of Hong Kong, each owning a 50% interest.
 
Park’N Fly provides off-airport car park solutions in Toronto, Montreal, Edmonton, Ottawa and Vancouver. It operates its off-airport car park business in Vancouver through a joint venture and licenses its brand name to the Halifax International Airport Authority (“HIAA”) for use in HIAA’s off-airport car park.
 
After winning an auction process conducted by the sellers’ financial advisors with assistance by the Ontario counsel to the seller, the purchasers’ joint venture acquired the national business assets and operations as well as the license agreement with HIAA. The acquisition included two separate transactions, one for the assets and business located in Canada (other than Vancouver), which was owned entirely by entities controlled by one family and one for the assets and business located in Vancouver, which was owned by the same family together with another seller equally. 
 
The family owning the vast majority of the business being sold was primarily represented by Aird & Berlis LLP with a team led by Martin Kovnats and including Jeffrey Merk, Matthew Liberatore, Andrew Magnus and Mathew Goldstein (Corporate and M&A), Hayden Solomons, Sandra Dos Santos and Aaron Silver (Real Estate), Jack Bernstein and Francesco Gucciardo (Tax) and Barbra Miller (Employment and Benefits).

Related Representative Matters

Representative Matters
Creso Pharma Completes Proposed Acquisition of Mernova Joel M. Rose, Jesse Rosensweet and Barbara Worndl Mar 21, 2018 Creso Pharma Limited (ASX: CPH) expanded into the Canadian market with the acquisition of Mernova Medicinal Inc. Mernova is a Nova Scotia-based privately-held company that has applied for a medical cannabis cultivation licence under Health Canada’s Access to Cannabis for Medical Purposes Regulati...
Representative Matters
Graycliff Partners Acquires North American Logistics Group Joel M. Rose, Joanne C. Coldwell, Jeremy D. Burke, Dennis M. O'Leary, Michael F. Horvat and Barbara Worndl Mar 21, 2018 Graycliff Partners, an independent investment firm with a focus on mid-market private equity opportunities, completed the acquisition of North American Logistics Group LLC, a transportation and warehousing entity with a presence in Western Canada and Ontario.
Representative Matters
Baird Capital Partners Completes Acquisition of Litecorr Global Inc. Joel M. Rose, Jesse Rosensweet, Stephen Zolf, Dennis M. O'Leary, Michael F. Horvat, Fiona Brown and Barbara Worndl Mar 21, 2018 Baird Capital Partners, a private equity firm based in Chicago, acquired Litecorr Global Inc., a leading edge developer/manufacturer of LED lighting products for use in a variety of applications across a range of industries.