Simpson Thacher represented the initial purchasers, led by J.P. Morgan Securities LLC, in the sale of an aggregate principal amount of $625 million 6.250% Senior Notes due 2032 and aggregate principal amount of $625 million 6.625% Senior Notes due 2035 by Group 1 Automotive, Inc. (“Group 1”). Group 1 intends to use the net proceeds of the offering, together with cash on hand, to fund the purchase price for its previously announced acquisition of certain dealership assets and related real estate from Hennessy Automobile Companies, Inc. and certain of its affiliates and to pay related fees and expenses.
Group 1 owns and operates 256 automotive dealerships, 319 franchises, and 33 collision centers in the United States and the United Kingdom that offer 38 brands of automobiles. Through its dealerships and omni-channel platform, Group 1 sells new and used cars and light trucks; arranges related vehicle financing; sells service contracts; provides automotive maintenance and repair services; and sells vehicle parts.
The Simpson Thacher team included David Azarkh, Patrick Baron, Jeffrey C. Cole and Marlena Choupo (Capital Markets); Jonathan Cantor and Sean Largey (Tax); Chandler Gerard-Reimer and Jennifer Park (Intellectual Property); Pasco Struhs (Executive Compensation and Employee Benefits) and Andrew Pagliughi (Blue Sky).