Vroom’s $300 Million Acquisition of United Auto Credit Corporation

Simpson, Thacher & Bartlett advised Vroom, Skadden, Arps, Slate, Meagher & Flom advised United Auto Credit Corporation on the deal.

United Auto Credit Corporation (UACC) has entered into a definitive agreement to be acquired by Vroom, an innovative ecommerce platform that offers a better way to buy and sell used vehicles, for $300 million in cash, subject to adjustment based upon UACC’s closing book value. 

Vroom is an innovative, end-to-end ecommerce platform for buying and selling used vehicles.

UACC is a leading, nationwide technology-enabled non-prime auto lender serving the independent dealer market.

The Simpson Thacher team included Lee Meyerson (Picture), Ravi Purushotham, Beth DiSciullo, Carina Kan and Jule Walsh (M&A); Larry Moss, Linda Barrett and Garrick Ehlers (Executive Compensation and Employee Benefits); Jonathan Goldstein and Eli Shalam (Tax); Adam Cohen and Spencer Sloan (Financial Regulatory); Genevieve Dorment and Corina McIntyre (IP); Peter Guryan and Kelly Karapetyan (Antitrust); and John Schueller (Securitization).

The Skadden team included Financial Institutions and M&A partner Sven Mickisch, counsel Matthew Nemeroff, and associates Makala Kaupalolo and David Moon; Executive Compensation and Benefits partner Shalom Huber; and Tax partner Jessica Hough (Washington, D.C.) and associate Robert Stevenson (Washington, D.C.). All attorneys are based in New York unless otherwise noted.

Involved fees earner: Linda Barrett – Simpson Thacher & Bartlett; Adam Cohen – Simpson Thacher & Bartlett; Elizabeth Disciullo – Simpson Thacher & Bartlett; Genevieve Dorment – Simpson Thacher & Bartlett; Garrick Ehlers – Simpson Thacher & Bartlett; Jonathan Goldstein – Simpson Thacher & Bartlett; Peter Guryan – Simpson Thacher & Bartlett; Carina Kan – Simpson Thacher & Bartlett; Kelly Karapetyan – Simpson Thacher & Bartlett; Corina McIntyre – Simpson Thacher & Bartlett; Lee Meyerson – Simpson Thacher & Bartlett; Laurence Moss – Simpson Thacher & Bartlett; Ravi Purushotham – Simpson Thacher & Bartlett; John Schueller – Simpson Thacher & Bartlett; Eli Shalam – Simpson Thacher & Bartlett; Spencer Sloan – Simpson Thacher & Bartlett; Jule Walsh – Simpson Thacher & Bartlett; Jessica Hough – Skadden Arps Slate Meager & Flom; Shalom Huber – Skadden Arps Slate Meager & Flom; Makala Kaupalolo – Skadden Arps Slate Meager & Flom; Sven Mickisch – Skadden Arps Slate Meager & Flom; HyunSik Moon – Skadden Arps Slate Meager & Flom; Matthew Nemeroff – Skadden Arps Slate Meager & Flom; Robert Stevenson – Skadden Arps Slate Meager & Flom;

Law Firms: Simpson Thacher & Bartlett; Skadden Arps Slate Meager & Flom;

Clients: United Auto Credit Corporation; Vroom;