Mitel in its sale to affiliates of Searchlight Capital Partners for US$2 billion

On November 30, 2018, Mitel Networks Corporation announced the successful completion of the previously announced transaction in which affiliates of funds advised by Searchlight Capital Partners, L.P. acquired all of the outstanding common shares of Mitel (the “Shares”) for US$11.15 per share in cash, without interest and less any applicable withholding taxes, valued at approximately US$2 billion, including Mitel’s net debt.

Mitel will become a privately held company, which is expected to provide the company with additional flexibility to accelerate its move-to-the-cloud strategy.

Mitel is a global leader in business communications. Mitel provides cloud and on-site communications and collaboration software, services, and solutions.

Searchlight is a global private investment firm with offices in New York, London and Toronto. Searchlight seeks to invest in businesses where their long-term capital and strategic support accelerate value creation for all stakeholders.

Osler, Hoskin & Harcourt LLP represented Mitel with a team that was led by Jeremy Fraiberg and included Alex Gorka (Corporate); Firoz Ahmed and Alex Klyguine (Tax); and Michelle Lally and Kaeleigh Kuzma (Competition and Investment Canada).