Simpson Thacher represented Academy Sports + Outdoors (“Academy”) in connection with its recent offering of $500 million aggregate principal amount of 8%/8¾% Senior Notes due 2018, as well as related internal restructuring transactions. Academy used the net proceeds from this offering to pay an approximately $485.8 million distribution to its parent, New Academy Holdings Company, LLC, an entity controlled by Kohlberg Kravis Roberts & Co. LP.
Headquartered in Katy, Texas, Academy is one of the nation’s largest sporting goods and outdoor stores offering a broad selection of quality products at everyday low prices. Academy has 156 locations in the Southeast United States with approximately 16,000 associates and generated more than $3.0 billion in revenue in 2011.
The Simpson Thacher team included: Richard Fenyes, Joseph Kaufman, Daniel Bae, Joia Lee and Joe Ronca (Capital Markets); Marni Lerner, Michael T. Holick and Matthew T. Farrell (M&A); James Cross and Chris Bell (Credit); Katharine Moir, Jason Vollbracht and Jodi L. Sackel (Tax); Krista McManus (Real Estate); Andrea Wahlquist and Jennifer McGroarty (Executive Compensation and Employee Benefits); Lori Lesser and Genevieve Dorment (Intellectual Property); and Adeeb Fadil (Environmental).
