Simpson Thacher represented Unilabs SubHolding AB (publ), a wholly owned subsidiary of Unilabs Holding AB (“Unilabs”), an Apax portfolio company, in connection with (i) a Rule 144A and Regulation S offering of €155 million aggregate principal amount of its existing 5.75% Senior Notes due 2025 (the “Notes”); and (ii) the syndication of an incremental €190 million senior term loan facility. The offering of the Notes closed on October 16, 2017. Unilabs used the net proceeds from the offering of the Notes, together with the borrowings under the term loan facilities, to (i) finance the amounts payable in connection with the previously announced acquisition of Base Holding; (ii) finance a portion of the consideration payable in respect of the previously announced acquisitions of CGC, Blufstein, Scientific Clinical Laboratories and other recently acquired companies; (iii) pay certain costs, fees and expenses in connection with the foregoing; and (iv) fund cash to Unilabs’ balance sheet for general corporate purposes, including acquisitions.
Unilabs is one of Europe’s leading suppliers of clinical laboratory testing and medical diagnostic imaging services to private and public healthcare providers, local governments, insurance companies, pharmaceutical companies and the general public.
The Simpson Thacher team included Nick Shaw, Carol Daniel, Noam Katz, Pelin Demirdere Eski and Donovan Westbrook (Capital Markets); Kate Sinclair and Jason Lim (Credit); and Meredith Jones and Jasmine Hay (Tax).