Winston & Strawn Lawyers Represent Rent-A-Center in $1.3 Billion Privatization Merger
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Left to right: Winston & Strawn partners Todd J. Thorson and Thomas W. Hughes[/caption] A team of lawyers from the Dallas office of Winston & Strawn helped guide Texas-based Rent-A-Center in a $1.3 billion merger with the Florida-based private equity firm Vintage Capital. As part of the deal, the private equity firm will purchase the rent-to-own company’s common stock for $15 a share. Rent-A-Center provides consumer electronics, computers and furniture to customers under flexible rental-purchase agreements. It owns approximately 2,400 stores in the United States, Mexico, Canada and Puerto Rico. Rent-A-Center’s board of directors recently approved of the transaction—through which the company will become privately held, and its common shares no longer listed on any public market. The transaction, which represents a total consideration of $1.3 billion including net debt, is expected to close by the end of 2018. Rent-A-Center was represented in the deal by lead attorneys Thomas W. Hughes and Todd J. Thorson, partners in the Dallas office of Winston & Strawn. The team also included partner Jeff Cole, and associates Melissa D. Kalka and Josh Merrill. Rent-A-Center’s board of directors were represented by a team of attorneys from Sullivan & Cromwell, including Alison S. Ressler, Scott C. Campbell, Oliver A. Lane, Ari B. Blaut, Jeannette E. Bander, and Eric H. Queen. Lawyers from Wilson Sonsini Goodrich & Rosati served as legal advisers to Vintage Capital in the deal.
