Simpson Thacher recently represented the lenders and initial purchasers in connection with the acquisition financing for Triumph Group Inc.’s $1.7 billion acquisition of Vought Aircraft Industries, Inc. The cash portion of the merger consideration was funded in part with the proceeds from a $350 million term loan B credit facility, arranged by RBC Capital Markets, and an offering, led by RBC Capital Markets and UBS Securities LLC, of $350 million aggregate principal amount of 8.625% Senior Notes due 2017.
Triumph is a leading manufacturer of and provider of repair and maintenance services for aerospace systems and components. The Vought acquisition expands the company’s capabilities into complex aerostructures and products and creates a market leading tier one capable supplier of aircraft components and aerostructures.
The Simpson Thacher team for the transaction included: Patrick Ryan, Alexandra Kaplan, Jill Kalish, Sarah Hong and Matt Rogers (Credit), Ken Wallach, Mark Brod, Will Golden and David Shapiro (Capital Markets), Adeeb Fadil (Environmental), Jamin Koslowe and Jennifer Pepin (Executive Compensation and Employee Benefits), Meryl Rosen and Mindy Lok (IP), Scott Dyer (Labor), Mardi Merjian and Beatie Branch (Real Estate), and Jonathan Cantor and Andrew Purcell (Tax). Summer Associate Jeffrey Lieberman and Paralegals Chris Stone and William McGuire also provided valuable assistance.