Investor Group Co-Led by CAI Completes Privatization of CCS Income Trust
November 19, 2007
Toronto, Montreal, Vancouver, New York - November 19, 2007 - CAI Capital Partners & Co. III, L.P. and its related entities ("CAI") is pleased to announce the closing, on November 14, 2007, of the previously announced take private transaction of CCS Income Trust ("CCS") with its CEO, founder, and largest unitholder, David Werklund, together with an investor group co-led by CAI that includes Goldman Sachs Capital Partners, Kelso & Company, Vestar Capital Partners and O.S.S. Capital Management. CAI's investor group includes British Columbia Investment Management Corporation, Alberta Investment Management, certain other CAI Limited Partners, and CIBC Capital Partners. The transaction, valued at approximately $3.5 billion, is one of the largest ever privatizations of a Canadian income trust. CCS now operates under the name CCS Corporation.
About CCS
CCS, founded in 1984 and headquartered in Calgary Alberta, provides waste management, well servicing and environmental remediation services to upstream and downstream oil and gas companies in Canada and the U.S. Recognized as an industry leader, CCS has approximately 3,000 employees and provides a diverse number of services across four divisions: CCS Midstream Services, CCS Energy Marketing, HAZCO Environmental Services, and Concord Well Servicing.
www.ccscorporation.ca
About CAI
Founded in 1989, CAI is a private equity firm with a North American investment mandate specializing in buyouts, restructurings and acquisitions where its broad operational and financial expertise and ready access to capital position it as a valued partner for proven, motivated management teams. CCS represents the 22nd business in which CAI has invested since its inception. To date, CAI's three funds have invested or placed with co-investors a total of $1.3 billion in equity or equity-related investments to help fund growth and corporate transition.
www.caifunds.com.
For additional information contact:
| CAI Peter Gottsegen Managing Partner 212.319.3055 pgottsegen@caifunds.com |
CAI |
CCS Shauna Lowry Corporate Communications 403.231.1127 slowry@ccscorporation.ca |