Deluxe’s $960 Million Acquisition of First American Payment Systems

Simpson Thacher represented JPMorgan Chase Bank, N.A., as lead arranger and administrative agent, in providing financing for the acquisition, and J.P. Morgan Securities LLC, as representative of the initial purchasers for the offering.

Deluxe Corporation (“Deluxe”) completed the financing for the acquisition of FAPS Holdings, Inc., which including a new $1,155 million term loan credit facility and a $500 million revolving credit facility. 

In addition, Deluxe completed an offering of $500 million aggregate principal amount of 8% Senior Notes due 2029. The net proceeds of the credit facilities and the notes offering were used, in part, to finance the acquisition.

Deluxe’s solutions help businesses pay and get paid, accelerate growth and operate more efficiently. For more than 100 years, Deluxe customers have relied on Deluxe’s solutions and platforms at all stages of their lifecycle, from start-up to maturity. Deluxe’s scale supports millions of small businesses, thousands of vital financial institutions and hundreds of the world’s largest consumer brands, while processing more than $2.8 trillion in annual payment volume.

The Simpson Thacher team included Jessica Tuchinsky (Picture) and Cristina Gonzalez (Banking and Credit); Art Robinson, David Azarkh and Catherine Ciriello (Capital Markets); Jon Cantor and Brian Mendick (Tax); Jennifer Neilsson and Alyssa Ohanian (Executive Compensation and Employee Benefits); Genevieve Dorment and Kate Mirino (Intellectual Property); Michael Isby (Environmental); Keith Noreika and Adam Cohen (Bank Regulatory); Abram Ellis and Avia Gridi (Regulatory); and Jennie Getsin (Blue Sky). Summer Associate Matthew Acosta also provided valuable assistance.

Involved fees earner: David Azarkh – Simpson Thacher & Bartlett; Jonathan Cantor – Simpson Thacher & Bartlett; Catherine Ciriello – Simpson Thacher & Bartlett; Adam Cohen – Simpson Thacher & Bartlett; Genevieve Dorment – Simpson Thacher & Bartlett; Abram Ellis – Simpson Thacher & Bartlett; Jennie Getsin – Simpson Thacher & Bartlett; Cristina Gonzalez – Simpson Thacher & Bartlett; Michael Isby – Simpson Thacher & Bartlett; Brian Mendick – Simpson Thacher & Bartlett; Kate Mirino – Simpson Thacher & Bartlett; Jennifer Neilsson – Simpson Thacher & Bartlett; Keith Noreika – Simpson Thacher & Bartlett; Alyssa Ohanian – Simpson Thacher & Bartlett; Arthur Robinson – Simpson Thacher & Bartlett; Jessica Tuchinsky – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: J.P. Morgan Securities LLC; JP Morgan Chase & Co.;

Author: Martina Bellini

Deluxe’s $960 Million Acquisition of First American Payment Systems

Simpson Thacher represented JPMorgan Chase Bank, N.A., as lead arranger and administrative agent, in providing financing for the acquisition, and J.P. Morgan Securities LLC, as representative of the initial purchasers for the offering.

Deluxe Corporation (“Deluxe”) completed the financing for the acquisition of FAPS Holdings, Inc., which including a new $1,155 million term loan credit facility and a $500 million revolving credit facility. 

In addition, Deluxe completed an offering of $500 million aggregate principal amount of 8% Senior Notes due 2029. The net proceeds of the credit facilities and the notes offering were used, in part, to finance the acquisition.

Deluxe’s solutions help businesses pay and get paid, accelerate growth and operate more efficiently. For more than 100 years, Deluxe customers have relied on Deluxe’s solutions and platforms at all stages of their lifecycle, from start-up to maturity. Deluxe’s scale supports millions of small businesses, thousands of vital financial institutions and hundreds of the world’s largest consumer brands, while processing more than $2.8 trillion in annual payment volume.

The Simpson Thacher team included Jessica Tuchinsky (Picture) and Cristina Gonzalez (Banking and Credit); Art Robinson, David Azarkh and Catherine Ciriello (Capital Markets); Jon Cantor and Brian Mendick (Tax); Jennifer Neilsson and Alyssa Ohanian (Executive Compensation and Employee Benefits); Genevieve Dorment and Kate Mirino (Intellectual Property); Michael Isby (Environmental); Keith Noreika and Adam Cohen (Bank Regulatory); Abram Ellis and Avia Gridi (Regulatory); and Jennie Getsin (Blue Sky). Summer Associate Matthew Acosta also provided valuable assistance.

Involved fees earner: David Azarkh – Simpson Thacher & Bartlett; Jonathan Cantor – Simpson Thacher & Bartlett; Catherine Ciriello – Simpson Thacher & Bartlett; Adam Cohen – Simpson Thacher & Bartlett; Genevieve Dorment – Simpson Thacher & Bartlett; Abram Ellis – Simpson Thacher & Bartlett; Jennie Getsin – Simpson Thacher & Bartlett; Cristina Gonzalez – Simpson Thacher & Bartlett; Michael Isby – Simpson Thacher & Bartlett; Brian Mendick – Simpson Thacher & Bartlett; Kate Mirino – Simpson Thacher & Bartlett; Jennifer Neilsson – Simpson Thacher & Bartlett; Keith Noreika – Simpson Thacher & Bartlett; Alyssa Ohanian – Simpson Thacher & Bartlett; Arthur Robinson – Simpson Thacher & Bartlett; Jessica Tuchinsky – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: J.P. Morgan Securities LLC; JP Morgan Chase & Co.;

Author: Martina Bellini