United Site Services Completes Exchange Offer
10.01.24
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Simpson Thacher represented PJT Partners LP, as dealer manager, in connection with the offer by Vortex Opco, LLC (the “Issuer”), a subsidiary of United Site Services, Inc., to exchange any and all of the outstanding 8.000% Senior Notes due 2029 of PECF USS Intermediate Holding III Corporation for (i) either (A) the Issuer’s first lien “first out” senior secured term loans or (B) the Issuer’s first lien “first out” floating rate senior secured notes due 2030 and (ii) the Issuer’s first lien “third out” 8.000% senior secured notes due 2030.
United Site Services is the largest provider of portable sanitation services and complementary site solutions in the United States, providing the largest equipment fleet and deploying a standardized servicing methodology that ensures consistent quality and safety of on-site equipment use.
The Simpson Thacher team for the transaction included John O’Connell, David Azarkh, Patrick Baron, Evan Zuckerman, Melissa Lewis, John Strubing and Rebecca Carroll (Capital Markets); Soogy Lee, Jon Pall, Dov Gottlieb and Ian Kitts (Collateral); Jonathan Cantor (Tax); Pasco Struhs (Executive Compensation and Employee Benefits); and Paige Brinton (Intellectual Property).