Slaughter and May advised The Vitec Group plc on its acquisition of Savage Universal Corporation

Slaughter and May advised The Vitec Group plc (“Vitec”) on the USD 53 million bank financing package for its recently announced acquisition of Savage Universal Corporation (“Savage”). Vitec is an international provider of premium branded hardware products and software solutions for the content creation market, whilst Savage is a global market leader in providing backgrounds to professional photography studios.

The financing package comprises a USD 53 million term loan facility maturing in 2024, 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.