Milbank Advises on Advent’s Acquisition of TSG

Milbank LLP is advising a group of financial institutions in connection with Advent International’s acquisition of Transaction Services Group (a payment processing and business management software group). The financing consists of a unitranche facility and capex facility and a super senior RCF. The transaction is subject to customary closing conditions.

This transaction represents Advent building upon its significant investment experience in the payments and software industries, and illustrates the increasing popularity of the unitranche product in the European market.

The Milbank team is being led by Global Leveraged Finance/Capital Markets partner Suhrud Mehta with support from special counsel Miko Bradford and associates Rahul Chatterji, Laura Bonamis and Michael Gatter, Corporate associates Anna Bryant and Cormac Kerins, Tax special counsel Matthew Mortimer and associate James Seddon.