Simpson Thacher Represents Goldman Sachs and Credit Suisse in Financing for Fifth Third Processing Solutions’ Acquisition of NPC Group, Inc.
12.07.10
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Simpson Thacher recently represented Goldman Sachs Lending Partners LLC and Credit Suisse AG, Cayman Islands Branch in connection with the financing of Fifth Third Processing Solutions, LLC’s (“FTPS”) acquisition of NPC Group, Inc. (“NPC”). The financing commitments entered into in connection with the acquisition consist of $1.725 billion of first lien secured credit facilities and $200 million of second lien secured credit facilities.
FTPS is one of the leading payment processors in the United States with $753 million in pro forma 2009 net revenue and operations in both the merchant acquiring and financial institution/EFT segments. NPC is a full-service merchant acquirer focused on small to mid-sized merchants in the US, headquartered in Louisville, KY.
The proceeds of the credit facilities were used to finance the acquisition and to refinance certain existing indebtedness.
The Simpson Thacher team included Justin Lungstrum, Frank Huck, Wendy Wu and Jordan Taylor (Credit); Art Robinson, Edward Chung, James Doyle and Till I. Lefranc (M&A); Jonathan Cantor and Amie Broder (Tax); Wonda Quinn (Executive Compensation and Employee Benefits); and Marcela Robledo (Intellectual Property).