On January 20, 2022, Connor, Clark & Lunn Infrastructure (“CC&L Infrastructure”) announced the acquisition of a majority interest in Landmark Student Transportation Inc. Landmark's existing shareholders will retain a significant equity interest in the business and its current management team will continue to oversee its operations and growth.

Terms of the transaction were not disclosed.

Landmark is a North American owned and operated company that provides school districts with safe, reliable, contracted student transportation services.

CC&L Infrastructure invests in middle-market infrastructure assets with highly attractive risk-return characteristics, long lives and the potential to generate stable cash flows. It is a part of Connor, Clark & Lunn Financial Group Ltd., a multi-boutique asset management firm whose affiliates collectively manage approximately C$100 billion in assets.

Torys acted as counsel to Connor, Clark & Lunn with a team that included Huw Evans, Philip Symmonds, Justin Crawford, Mike Meguid and Melissa Lowy (corporate/M&A), Tom Zverina and Michelle Holmes (financing), Darryl Hiscocks and Brad Tartick (pensions and employment), Chris Caparelli and Omar Wakil (antirust), Charlene Schafer and Leslie Blumer (real estate), Michael Fortier (environmental), Ed Fan (IP) and Molly Reynolds (privacy).

Blakes acted as counsel to Landmark Student Transportation.