The Firm represented Snow Phipps Group, LLC, a New York-based private equity firm, in connection with its acquisition of LTI Flexible Products, Inc. (“LTI Boyd”) from Sentinel Capital Partners. Senior debt financing was provided by a syndicate led by GE Capital Corporation and Keybank National Association; subordinated notes financing was provided by Pennant Park Investment Corporation and Morgan Stanley Credit Partners.
LTI Boyd designs, manufactures and distributes high performance, custom engineered components in the heavy truck, recreational vehicle, enterprise electronics, off-highway, aerospace, consumer electronics, medical and other industrial markets.
The Simpson Thacher team included Andrew Smith, Amie Siebert, Danielle Kantor (M&A); Tristan Brown, Linda Barrett (Executive Compensation and Employee Benefits); Michael Vernace, Hayley Urkevich, Aditya Basrur (Credit); Xavier Kowalski, Benjamin Wells, Bruce Sun (Capital Markets); Adeeb R. Fadil, Noreen Lavan (Environmental); Lori Lesser, Samantha Himelman (IP); Elisa Alcabes (Litigation); Krista McManus (Real Estate); Noah Beck, Devin Heckman (Tax); J. Scott Dyer (Labor); Michael Naughton and Ken Ehrhard (Antitrust). The team also received valuable assistance from summer associates Brian Novell and Daniel Areshenko.