Blackstone’s €425 Million Financing of Schenck Process’s Acquisition


Simpson Thacher is advising Blackstone on the financing of its acquisition of Schenck Process, including a high yield bond offering and senior secured credit facilities.

The acquisition is scheduled to close at the end of 2017.

Blackstone used the net proceeds from this offering primarily to finance a portion of the acquisition of Schenck Process, a leading global provider of equipment and mission-critical solutions to diverse markets, including minerals and metals, construction and energy, and food, chemicals and plastics. Headquartered in Germany, the core competencies of Schenck Process are in customer-centric application development, complex and business-critical solution engineering and high-quality aftermarket services. Its customers rely on Schenck Process’ products and services to increase production efficiency and functionality in process-critical areas of their business where reliability is paramount.

The Simpson Thacher team included Gil Strauss (Picture), Noam Baruch Katz, J. Hillyer Jennings, Luiz Arthur (Tuca) Bihari and Alice Prinsley (Capital Markets); Antti Pesonen, Kavita Davis, Katie Geraghty and Alexander Volsky (Credit); Clare Gaskell, Ying Yi Soh and Christopher Vallance (M&A); and Meredith Jones and William Smolinski (Tax).

Involved fees earner: Gil Strauss – Simpson Thacher & Bartlett; Noam Baruch Katz – Simpson Thacher & Bartlett; Hillyer Jennings – Simpson Thacher & Bartlett; Luiz Arthur Bihari – Simpson Thacher & Bartlett; Antti Pesonen – Simpson Thacher & Bartlett; Kavita Davis – Simpson Thacher & Bartlett; Katie Geraghty – Simpson Thacher & Bartlett; Alexander Volsky – Simpson Thacher & Bartlett; Clare Gaskell – Simpson Thacher & Bartlett; Ying Yi Soh – Simpson Thacher & Bartlett; Christopher Vallance – Simpson Thacher & Bartlett; Meredith Jones – Simpson Thacher & Bartlett; William Smolinski – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: Blackstone;