GI Partners’ $1.1 Billion Acquisition of Orbcomm

Simpson Thacher represented affiliates of GI Partners in the transaction.

GI Partners entered into its definitive agreement to acquire ORBCOMM Inc. (“Orbcomm”). Under the terms of the agreement, shareholders will receive $11.50 in cash per share of Orbcomm’s common stock in an all-cash transaction that values Orbcomm at approximately $1.1 billion, including net debt. The transaction is expected to close in the second half of 2021.

ORBCOMM (Nasdaq: ORBC) is a global leader and innovator in the industrial Internet of Things, providing solutions that connect businesses to their assets to deliver increased visibility and operational efficiency. The company offers a broad set of asset monitoring and control solutions, including seamless satellite and cellular connectivity, unique hardware and powerful applications, all backed by end-to-end customer support, from installation to deployment to customer care. ORBCOMM has a diverse customer base including premier OEMs, solutions customers and channel partners spanning transportation, supply chain, warehousing and inventory, heavy equipment, maritime, natural resources, and government.

Founded in 2001, GI Partners is a private investment firm based in San Francisco, California. The firm has raised over $26 billion in capital from leading institutional investors around the world to invest in private equity, real estate and data infrastructure strategies. The data infrastructure team invests primarily in hard asset infrastructure businesses underpinning the digital economy.

The Simpson Thacher team representing GI Partners included Christopher May (Picture), Ravi Purohit, Kyle Kreshover, Zain Rifat and Siwei Yang (Corporate); Adam Shapiro and Catherine Burns (Credit); Jeannine McSweeney and Jake Phillips (ECEB); Sophie Staples and Abigail Hopper (Tax); Lori Lesser and Melanie Jolson (IP); Michael Isby (Environmental); and Dennis Loiacono (Real Estate).

Involved fees earner: Catherine Burns – Simpson Thacher & Bartlett; Abigail Hopper – Simpson Thacher & Bartlett; Michael Isby – Simpson Thacher & Bartlett; Melanie Jolson – Simpson Thacher & Bartlett; Kyle Kreshover – Simpson Thacher & Bartlett; Lori Lesser – Simpson Thacher & Bartlett; Dennis Loiacono – Simpson Thacher & Bartlett; Christopher May – Simpson Thacher & Bartlett; Jeannine McSweeney – Simpson Thacher & Bartlett; Jacob Phillips – Simpson Thacher & Bartlett; Ravi Purohit – Simpson Thacher & Bartlett; Zain Rifat – Simpson Thacher & Bartlett; Adam Shapiro – Simpson Thacher & Bartlett; Sophie Staples – Simpson Thacher & Bartlett; Siwei Yang – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: GI Partners;

Author: Martina Bellini