Epiq Systems to launch $1.3 billion credit facility on Thursday

By Sara Rosenberg

New York, Sept. 6 – Epiq Systems Inc. set a bank meeting for Thursday to launch its $1,295,000,000 credit facility, according to a market source.

Bank of America Merrill Lynch, Goldman Sachs Bank USA, Antares Capital, Ares Capital Management LLC and Golub Capital LLC are the leads on the deal.

The facility consists of a $100 million revolver and a $1,195,000,000 seven-year covenant-light term loan B.

Proceeds will be used to help fund the buyout of the company by OMERS Private Equity and Harvest Partners LP for $16.50 per share in cash. The transaction has a total value of about $1 billion, including assumed debt obligations.

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

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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