Simpson Thacher Represents Service King in $200 Million Senior Notes Offering
09.29.14
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Simpson Thacher represented Midas Intermediate Holdco II, LLC and its subsidiaries (collectively, “Service King”) in connection with a Rule 144A/Regulation S offering of $200 million aggregate principal amount of their 7.875% Senior Notes due 2022. Service King used the net proceeds of the offering to repay all of the outstanding borrowings under its bridge loan facility.
Service King is one of the largest owners and operators of collision repair centers in the United States. Established in 1976 and headquartered in Dallas, Service King currently serves customers at 177 locations across 20 states. Service King is controlled by affiliates of The Blackstone Group and The Carlyle Group.
The Simpson Thacher team for the transaction included Patrick Baron, Siobhan Lam, Ryan Castillo and Daniel Avezbaki (Capital Markets); Alden Millard and Brian Gluck (Credit); Wilson Neely, Elizabeth Cooper, Lauren Colasacco and Ben Baucom (M&A); Gary Mandel and Devin Heckman (Tax); Greg Grogan and Patricia Adams (Executive Compensation and Employee Benefits); Michael Isby (Environmental); and Samantha Himelman (Intellectual Property).