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Wellspring Capital Agrees to Sell Dave & Buster's to Oak Hill Capital
Paul, Weiss client Wellspring Capital Management, LLC announced today that it will sell Dave & Buster's, Inc. to Oak Hill Capital Partners for an aggregate value of approximately $570 million. Oak Hill is investing in partnership with the management team of Dave & Buster's, led by the company's CEO, Steve King. The transaction is set to be completed in the second quarter of 2010.
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.