Alta Equipment Group’s $315 Million Debut Senior Secured Notes Offering

Simpson Thacher represented the initial purchasers in the offering.

Alta Equipment Group Inc. (“Alta”) executed its offering of $315 million aggregate principal amount of 5.625% Senior Secured Second Lien Notes due 2026. Alta intends to use the net proceeds from the offering, together with the proceeds of new borrowings under its credit facilities, to repay all of the outstanding borrowings under its second lien term loan facility, to refinance a portion of its ABL facility and floor plan facility and to pay related fees and expenses. The offering was upsized from $300 million to $315 million.

Alta owns and operates one of the largest integrated equipment dealership platforms in the United States. Through its branch network, it sells, rents and provides parts and service support for several categories of specialized equipment, including lift trucks and aerial work platforms, cranes, earthmoving equipment and other material handling and construction equipment.

The Simpson Thacher team advising J.P. Morgan Securities LLC, as representative of the initial purchasers, included David Azarkh (Picture), Sung Bum Cho and Ben Carson (Capital Markets); Soogy Lee and Jonathan Pall (Collateral); Jennifer Neilsson (Executive Compensation and Employee Benefits); Melanie Jolson (Intellectual Property); Jonathan Cantor and Zachary Fialkow (Tax); Mike Isby (Environmental); and Jennie Getsin (Blue Sky).

Involved fees earner: David Azarkh – Simpson Thacher & Bartlett; Jonathan Cantor – Simpson Thacher & Bartlett; Ben Carson – Simpson Thacher & Bartlett; Sung Bum Cho – Simpson Thacher & Bartlett; Zachary Fialkow – Simpson Thacher & Bartlett; Jennie Getsin – Simpson Thacher & Bartlett; Michael Isby – Simpson Thacher & Bartlett; Melanie Jolson – Simpson Thacher & Bartlett; Hyang-Sook Lee – Simpson Thacher & Bartlett; Jennifer Neilsson – Simpson Thacher & Bartlett; Jonathan Pall – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: J.P. Morgan Securities LLC;

Author: Martina Bellini