McKenna Long & Aldridge LLP Advises Just Energy in its Acquisition of Hudson Energy Services

ATLANTA, May 12 /PRNewswire/ -- McKenna Long & Aldridge LLP (MLA) announced today that it advised client Just Energy in its acquisition of Hudson Energy Services (Hudson).  The transaction closed on May 7, 2010.  The transaction was valued at approximately $304 million.

"Our firm's deep experience in U.S. and Canada business transactions uniquely positioned us to assist Just Energy in this acquisition, and we are honored that they entrusted us to assist them in their strategic efforts in the U.S.," said Ann-Marie McGaughey, the lead partner on the deal.

Just Energy, which is based in Toronto, is one of North America's leading independent natural gas and electricity retailers and providers of green energy.  Just Energy's business involves the sale of natural gas and electricity to residential and commercial customers under long-term fixed-price or price-protected contracts. Hudson is a privately held energy marketing company operating in New York, New Jersey, Illinois and Texas, primarily focused on the small to mid-size commercial customer market. The acquisition will enhance Just Energy's growth in the small to mid-size commercial energy marketing segment in North America.

Under the terms of the transaction, Just Energy acquired all of the equity of Hudson Parent Holdings LLC and Hudson Energy Corp. Just Energy funded the acquisition by entering into an agreement to sell to a syndicate of underwriters led by RBC Capital Markets, GMP Securities L.P. and CIBC World Markets Inc., as joint bookrunners, $330 million aggregate principal amount of convertible debentures.

The legal advisory team was led by MLA partners Ann-Marie McGaughey and David Brown and associate Kristen Beystehner. The MLA team worked closely with Jonah Davids, Vice President and General Counsel of Just Energy.

About the Canada-U.S. practice

MLA is a trusted advisor to governments and businesses on both sides of the border on all matters pertaining to Canada-U.S. commerce, complex border management issues, and a myriad of security issues that may impact supply chains, logistics and the bilateral public policy agenda. Attorneys and professionals in our Canada-U.S. practice include a former U.S. ambassador to Canada, the former chief of staff of the U.S. ambassador, and professionals who have held key positions at the U.S. Department of Commerce, the Overseas Private Investment Corporation, the U.S. Trade Representative office and Congress.

About McKenna Long & Aldridge LLP

McKenna Long & Aldridge LLP is an international law firm with 475 attorneys and public policy advisors. The firm provides business solutions in the areas of complex litigation, corporate, environmental, energy, and climate change, finance, government contracts, health care, intellectual property and technology, international law, public policy and regulatory affairs, and real estate.

SOURCE McKenna Long & Aldridge LLP

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