Shearman & Sterling advised Goldman Sachs, as first lien and second lien Administrative Agent, on a $1.275 billion first lien term loan facility, a $200 million first lien revolving credit facility, and a $275 million second lien term loan facility for WWEX Unit Topco Holdings, LLC, as Borrower, to finance the merger of GlobalTranz and Worldwide Express, to finance working capital and general corporate purposes.
The combination of the two companies was backed by an investor consortium led by CVC Capital Partners, including Providence Equity Partners, PSG Capital and Ridgemont Equity Partners.
Worldwide Express is the second-largest privately held freight brokerage in the country, arranging the delivery of more than 25 million small package, less-than-truckload and truckload shipments annually.
GlobalTranz is a technology-driven freight brokerage company specializing in less-than-truckload, truckload, third-party logistics and expedited shipping services. GlobalTranz is leading the market in innovative logistics technology that optimizes the efficiency of freight movement and matches shipper demand and carrier capacity in near real-time.
The Shearman & Sterling team below included Arshia Asif and Nicholas Kho.