Western Energy Services Corp. completes acquisition of IROC Energy Services Corp.

Closing Date: 4/22/2013

Value: C$150 million

On April 22, 2013, Western Energy Services Corp. (Western) acquired all of the outstanding securities of IROC Energy Services Corp. (IROC) by way of a plan of arrangement under the Canada Business Corporations Act (the Arrangement).

Pursuant to the Arrangement, Western acquired all of the outstanding shares of IROC in exchange for a combination of cash in the amount of $62.9 million and 12,352,832 Western common shares.  The total transaction value was approximately $184.8 million, including the assumption of approximately $37.9 million in debt, transaction costs and the cancellation of stock options and restricted share units.

BLG represented Western with a team that included Brian Roberts, Ross Freeman, Jonathan Doll, Scott Cedergren and Nav Dhaliwal.