The Firm represented the arrangers, including JPMorgan Chase Bank, N.A. and Bank of America, N.A, in providing committed financing for the announced acquisition of the construction materials business of Stavola Holding Corporation (“Stavola) by Arcosa, Inc. (“Arcosa”). The financing consists of $1.2 billion of bridge facility commitments and a backstop of Arcosa’s $600 million revolving credit facility.
Arcosa is a provider of infrastructure-related products and solutions with leading brands serving construction, engineered structures and transportation markets in North America. Stavola is an aggregates-led and vertically integrated construction materials company primarily serving the New York-New Jersey Metropolitan Statistical Area (“MSA”) through its network of five hard rock natural aggregates quarries, twelve asphalt plants and three recycled aggregates sites. The acquisition expands the footprint of Arcosa’s construction materials business into the nation’s largest MSA.
The Simpson Thacher team included Dan Kay, Alexander Kleinhaus-Resisi, Robert Meyer, In Young Kim and James Wheeler (Credit); John O’Connell, Ben Pittenger, Jessica Ryan and Khalia Williams (Capital Markets); Michael Isby (Environmental); Alysha Sekhon (Intellectual Property); Jon Cantor and Kris Liu (Tax); Pasco Struhs (ECEB); and Andrew Pagliughi (Blue Sky).