The firm represented J.P. Morgan Securities LLC, Barclays Capital Inc., Deutsche Bank Securities Inc., Citigroup Global Markets Inc., RBS Securities Inc. and UBS Securities LLC, as the initial purchasers of $315 million of 8.000% Senior Notes due 2021, the proceeds of which were used to finance a portion of the acquisition of CPG International Inc. (“CPG”) by funds affiliated with private equity firms Ares Management LLC and Teachers’ Private Capital. The firm also represented Deutsche Bank AG New York Branch, as administrative agent and collateral agent, in connection with a new $125 million revolving credit facility, and Barclays Bank PLC, as administrative agent and collateral agent, in connection with a new $625 million new term loan facility for CPG.
CPG is a leading manufacturer of highly engineered, premium low maintenance material building products designed to replace wood, metal and other traditional materials in a variety of building applications. CPG sells its products into the residential repair and remodel, residential new construction, commercial and institutional and industrial end markets under the brand names AZEK, TimberTech, Scranton Products and Vycom.
The Simpson Thacher team for the transactions included: Art Robinson, David Azarkh and John Freese (Capital Markets); Patrick Ryan, Jessica Tuchinsky, Doug Brown and Kevin Elliott (Credit); Adam Wells (Tax); Zara Ohiorhenuan (IP); Jamin Koslowe and Sarah Naseman (Executive Compensation and Employee Benefits); Mardi Merjian (Real Estate) and Timothy Mulvihill (Environmental).