McLeod Law is acting as transactional counsel and strategic legal advisor to SM2 Holdings Ltd. (dba SM2 Capital Partners), the founder of Fortress Insurance Company, in the sale of its entire equity stake in Fortress Insurance Company. SM2 Holdings has agreed to sell its equity position in Fortress Insurance Company to The Western Investment Company of Canada Limited (TSXV: WI).

The transaction is yet to close, and the completion of the transaction is subject to a number of conditions including acceptance of the TSX Venture Exchange, shareholder approvals, regulatory approvals and various other conditions.

Speaking about McLeod Law's role, S. (Rishi) Chakraborty notes: "Naim Ali and his family office sought our advice early into the transaction process. Transactions like these are transformative for families and go beyond the formulaic nature of corporate transactions. I am proud of the work our team did and the strategic advice and counsel we have provided and continue to provide to SM2 Holdings and its board of directors." 

Following the closing of the transaction, Mr. Naim Ali will be nominated as SM2 Holding's representative on the board of directors of The Western Investment Company of Canada Limited. SM2 Holdings will continue to retain one seat on the board of directors of Fortress Insurance Company.

The McLeod Law team was led by S. (Rishi) Chakraborty and Laura Wynnyk (M&A and Securities Law) and included strategic guidance and counsel from Brian Rogers (Counsel)

Red the full press release here.