Since its founding in 1877 in Pittsburgh, Reed Smith has grown into a market leading firm in Pennsylvania and New Jersey. It has also expanded to 30 offices across three continents. In the United States, the firm has 18 offices in 10 states. Pittsburgh remains the firm’s headquarters and is one of its largest offices.
Focusses / specialisms
The firm is best known in Pennsylvania and New Jersey for its powerhouse financial and corporate teams.
In banking the team advises borrowers and lenders in acquisition financing, refinancing and general working capital financing.
The firm also has a structured financing practice, where the team has expertise in CLOs, RMBS’, commercial mortgage loans, ABS’ and securitizations.
The M&A practice is mainly based in the New York, Chicago, Los Angeles, Princeton, Pittsburgh, Philadelphia, San Francisco and Silicon Valley offices. It acts on the buy and sell side in strategic acquisitions.
The restructuring and insolvency team represents trustees, creditors and debtors in out of court restructurings and Chapter 11 and 15 proceedings.
Key clients
Key clients for the firm include Santander, Hutchinson, Wind Point Partners, Acrotech Biopharma, Vista Outdoor, Avis Budget Group, Carmeuse Lime, BNY Mellon, LDR Industries, Oakfabco, Shore Suven Pharma, Robindale Energy Services, KeyBank and South Carolina Electric & Gas Company.
Research period review: 30th edition (2019/2020)
During the research period the banking team acts for borrowers and lenders mostly in general working capital financing.
The structured finance team advised clients in commercial mortgage loans and CLOs. In M&A, the team advised strategic clients in acquisitions on both the buy and sell side.
The restructuring and insolvency team represented a large amount of trustees in Chapter 11 proceedings. It did also work on some out of court restructurings and distressed M&A proceedings.
Regarding lateral movements, the banking team brought over partner Elizabeth Tabas Carson from Dechert. The M&A practice saw the arrival of partner of Andrew Douglass, who came from Polsinelli. In restructuring and insolvency, the firm brought over partners Keith Aurzada and Michael Cooley from Bryan Cave as well as partner Mandip Englund from Linklaters. Partner Andrea Pincus left the practice to move in-house.
In 2019, the firm added an office in Dallas. It also continued its European expansion the following year by opening an office in Brussels.
Deal highlights: 30th edition (2019/2020)
Commonwealth of Puerto Rico restructuring
First Commonwealth Bank acquisition of 14 Santander Bank branches
