Simpson Thacher recently represented American Tire Distributors, Inc. in connection with the financing for its acquisition of Hercules Tire & Rubber Company, including (i) the amendment of American Tire’s asset based credit facility, (ii) the private offering of $225.0 million aggregate principal amount of senior subordinated notes due 2018 and (iii) the sale of $50.0 million of common stock of Accelerate Parent Corp., American Tire’s indirect parent.
American Tire is the leading replacement tire distributor in North America, providing a critical range of services to enable tire retailers to effectively service and grow sales to consumers. Through its network of 131 distribution centers in the United States (U.S.) and Canada, American Tire offer access to an extensive breadth and depth of inventory, representing approximately 40,000 stock-keeping units (SKUs) to approximately 72,000 customers (approximately 62,000 in the U.S. and 10,000 in Canada).
The Simpson Thacher team included Brian Steinhardt, Eli Isak, Brett Pearlman and Spencer Sloan (Banking and Credit); Ed Tolley, Brian E. Rosenzweig and Mitchell Ryan (Capital Markets); Andrew Smith, Chi Pan and Gabriela Botifoll (M&A); and Jonathan Cantor (Tax).