Activant $380 million credit facility to launch Wednesday

By Sara Rosenberg

New York, April 7 - Activant Solutions Inc. is scheduled to hold a bank meeting on Wednesday to launch its proposed $380 million senior secured credit facility, according to a market source.

Deutsche Bank, JPMorgan and Lehman are the lead banks on the deal, with Deutsche the left lead.

The facility consists of a $40 million revolving credit facility and a $340 million term loan, the source said.

Proceeds will be used to help fund the leveraged buyout of Activant by Hellman & Friedman LLC and Thoma Cressey Equity Partners.

The transaction is subject to customary regulatory approvals, as well as satisfaction of other customary closing conditions, and is expected to close by May 8.

Activant, currently owned by HM Capital Partners LLC, is an Austin, Texas-based technology provider of business management solutions.

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