Slaughter and May advised The Vitec Group plc on its acquisition of Audix LLC

Slaughter and May advised The Vitec Group plc (“Vitec”) on the USD 47 million bank financing package for its recently announced acquisition of Audix LLC (“Audix”). Vitec is an international provider of premium branded hardware products and software solutions for the content creation market, whilst Audix is a leading manufacturer of professional microphones and headphones.

The financing package comprises a USD 47 million term loan facility maturing in 2025, with the first repayment due in June 2022. The facility was arranged by Citibank, N.A., London Branch, National Westminster Bank plc, UniCredit Bank AG, London Branch and Wells Fargo Bank, N.A., London Branch. Vitec were also advised by Rothschild & Co.

Slaughter and May acted as lead deal counsel with support from local counsel in a number of jurisdictions, including Mori Hamada & Matsumoto (Japan), BonelliErede (Italy), Gilbert + Tobin (Australia), Morrison Cohen LLP (USA), Hogan Lovells US LLP (USA) and Dickie, McCamey & Chilcote, P.C. (USA).