Epiq reveals structure on roughly $1.3 billion credit facility

By Sara Rosenberg

New York, Aug. 9 – Epiq Systems Inc. has received a commitment for a $1,295,000,000 credit facility to help fund its acquisition by OMERS Private Equity and Harvest Partners LP, according to a PREM14A filed with the Securities and Exchange Commission on Tuesday.

The facility consists of a $100 million revolver and a $1,195,000,000 term loan, the filing said.

Bank of America Merrill Lynch and Goldman Sachs Bank USA are the joint lead arrangers and joint bookrunners for the credit facilities.

The commitment is from Bank of America, Goldman Sachs, Antares Capital, Ares Capital Management LLC and Golub Capital LLC.

Other funds for the transaction will come from up to $490 million in equity.

Under the agreement, Epiq is being bought for $16.50 per share in cash. The transaction has a total value of about $1 billion, including assumed debt obligations.

Upon completion of the buyout, Epiq will be combined with DTI, an Atlanta-based legal process outsourcing company majority-owned by OMERS.

Closing is expected in the fourth quarter, subject to customary conditions, including receipt of shareholder and regulatory approvals.

Epiq is a Kansas City, Kan.-based provider of integrated technology and services for the legal profession.

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