February 01, 2023

Xebec cross-border restructuring

Goodmans LLP represented Sullair, LLC as the successful purchaser of the California Compression business of Xebec, pursuant to a competitive sales process conducted as part of the cross-border restructuring proceedings of Xebec Adsorption Inc. under the CCAA in Canada and Chapter 15 in the United States.

Founded in Michigan City, Indiana, Sullair has been on the leading edge of compressed air solutions and is part of the Hitachi Industrial Equipment Systems Co., Ltd. compressor portfolio.

Xebec was a leading global provider of sustainable gas solutions with significant operations across Canada, the United States and worldwide. Headquartered in Montréal, Québec, the Xebec Group operated 5 manufacturing facilities, 15 cleantech service centres, and two research and development facilities in North America.

Goodmans LLP continues to be a leader in the corporate and M&A space, bringing strength to advising major multinational corporates and financial institutions involved in high-value, multi-jurisdictional M&A, reorganisations and corporate governance matters. — The Legal 500 Canada
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One interviewee reported "I chose to work with them because of their expertise in Canadian restructurings and their practical, hands-on approach," further praising the team as "very knowledgeable, business-minded and commercial." — Chambers Canada
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Clients remark, "Goodmans provides strong advice that is creative yet practical. They have tremendous experience and are commercially savvy." — Chambers Canada
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One client noted, "Goodmans practices at the highest level. The team really understands the market and clients' business objectives."
— Chambers Canada
Clients note, "Tremendous quality and depth of talent top to bottom... The best younger partners and senior leaders in the market." — IFLR1000
On the Restructuring Group, interviewees say, “They are the best of the best in insolvency matters. Extremely knowledgeable on all matters, incredibly well prepared and very thorough.” — IFLR1000
One client noted, "The restructuring team at Goodmans is hands down the best in Canada. They are extremely commercial, smart and always demonstrate excellent judgment." — IFLR1000
Clients remark, "Goodmans' greatest asset is the breadth and depth of their team. Other law firms may have one or two top-notch lawyers, but no other law firm matches for overall team strength." — IFLR1000

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