Simpson Thacher represented Morgan Stanley Senior Funding, Inc., as lead arranger and bookrunner, in connection with committed financing for Brunswick Corporation (“Brunswick”) (NYSE: BC) to finance Brunswick’s announced acquisition of Power Products – Global Marine & Mobile business (“Power Products”) for total consideration of $910 million in cash.
The committed debt financing will also be used to refinance Power Product’s existing credit facilities.
Brunswick Corporation is a market leader in the marine, fitness and billiards industries. Power Products is a leading provider of branded electrical products, such as battery and power management and digital switching, to marine and other recreational and specialty vehicle markets.
The acquisition is expected to close in the third quarter of 2018, subject to customary approvals and closing conditions.
The Simpson Thacher team includes Patrick Ryan (Picture), Ismael Duran and Christine Marshall (Credit); Art Robinson, John Ericson and John O’Connell (Capital Markets); and Ed Chung (M&A).
Involved fees earner: Patrick Ryan – Simpson Thacher & Bartlett; Ismael Duran – Simpson Thacher & Bartlett; Christine Marshall – Simpson Thacher & Bartlett; Arthur Robinson – Simpson Thacher & Bartlett; John Ericson – Simpson Thacher & Bartlett; John O’Connell – Simpson Thacher & Bartlett; Edward Chung – Simpson Thacher & Bartlett;
Law Firms: Simpson Thacher & Bartlett;
Clients: Morgan Stanley Senior Funding, Inc.;