June 2, 2010

Wellspring Capital Completes Sale of Dave & Buster's to Oak Hill

As announced yesterday, Paul, Weiss client Wellspring Capital Management, LLC completed the sale of Dave & Buster's, Inc. to Oak Hill Capital Partners. Oak Hill is investing in partnership with the management team of Dave & Buster's. In connection with the closing of the acquisition by Oak Hill Capital Partners, Dave & Buster's closed its previously announced $200 million issuance of 11% Senior Notes due 2018 and its new senior secured credit facility consisting of a $150 million term loan and a $50 million revolving credit facility. The Paul, Weiss team representing Wellspring includes corporate counsel Claudine Meredith-Goujon and associates Sebastian Chan, Krista Ann McDonough, Adam Shevell, Frank Steinherr and Steven Werier; real estate associate Julia Milne; employee benefits associates Lauri Penn and Michelle Zimmerman-Day; tax associates John Hynes and Cristine Maisano; and environmental counsel William O'Brien. Partners involved included partners Eric Goodison, Peter Fisch, Peter Rothenberg , Ray Russo, James Schwab and Larry Witdorchic.