Simpson Thacher is representing Vroom (NASDAQ: VRM) in its acquisition of United Auto Credit Corporation (“UACC”) for $300 million, subject to customary adjustments. The transaction is expected to close late in the fourth quarter of 2021 or early in the first quarter of 2022, subject to regulatory approvals and other customary closing conditions.
Vroom is an innovative, end-to-end ecommerce platform for buying and selling used vehicles.
UACC is a leading, nationwide technology-enabled non-prime auto lender serving the independent dealer market.
The Simpson Thacher team includes Lee Meyerson, Ravi Purushotham, Beth DiSciullo, Carina Kan and Jule Walsh (M&A); Larry Moss, Linda Barrett and Garrick Ehlers (Executive Compensation and Employee Benefits); Jonathan Goldstein and Eli Shalam (Tax); Adam Cohen and Spencer Sloan (Financial Regulatory); Genevieve Dorment and Corina McIntyre (IP); Peter Guryan and Kelly Karapetyan (Antitrust); and John Schueller (Securitization).