Latham Advises Golub Capital on US$810 Million Broadly Syndicated LBO Financing to Support the Acquisition of Rough Country by TSG Consumer Partners

Firm represented the direct lender in the financing.

August 19, 2021

Golub Capital Markets LLC (Golub Capital) acted as Left Lead Arranger, Administrative Agent, and Joint Bookrunner on an US$810 million broadly syndicated loan facility to support the acquisition of Rough Country, a manufacturer and marketer of aftermarket suspension products and off-road accessories, by TSG Consumer Partners, LLC (TSG). The US$810 million facility for TSG's acquisition of Rough Country from Gridiron Capital LLC consisted of a US$585 million first lien term loan, US$175 million second lien term loan, and US$50 million revolver. Jefferies served as Joint Lead Arranger and Joint Bookrunner on the transaction. Golub Capital has served as Administrative Agent to Rough Country since Gridiron Capital's June 2017 buyout of the company, supporting five additional transactions during that period.

New York banking partners Alfred Xue and Conray Tseng led the Latham team that represented Golub Capital in the financing, with associates Kamal Nesfield, Aditi Sharma, and Ed Prevost. Advice was also provided on tax matters by Century City/Orange County partner Sam Weiner, with Houston associate Mike Rowe; on uniform commercial code matters by New York partner Larry Safran and New York counsel Brian Rock; and on IP matters by New York partner Jeffrey Tochner.

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