Cole Schotz is based in Hackensack, New Jersey and was founded in 1928. The firm operates seven offices in six states: New Jersey, New York, Delaware, Maryland, Florida and Texas.
The firm is recognized by IFLR1000 for its restructuring and insolvency work in Delaware. The firm advised Augustus Energy Resources with filing for Chapter 11 bankruptcy. The firm also advised the second lien note holders in connection with the Chapter 11 of Bon-Ton Stores, a department chain.
Headquartered in Philadelphia, Pennsylvania where it was founded in 1904, Duane Morris operates 21 offices across the US, including in Atlanta, Chicago, Houston, Los Angeles, San Francisco and New York. The firm has robust M&A, capital markets, banking and restructuring practices that handle clients across the country. Among Duane Morris’s industry focuses are healthcare, pharmaceuticals and banking and financial services.
Over the past year Duane Morris added a significant number of new attorneys to multiple offices. The most publicised of these additions came in January 2017, when Duane Morris’s Los Angeles office absorbed boutique firm Horgan Rosen Beckham & Coren. As a result, the firm acquired six corporate and banking attorneys: partners Arthur Coren, Khoi Dang, Alan Rosen and Jerome Walker and associates Justin Santarosa and Steven Sweeney. Separately, Duane Morris also added M&A partner Robert Kadlec in Los Angeles.
Meanwhile, the firm added banking and finance partner Robert Horwath in Chicago, corporate partner Michael Gallagher in Philadelphia and M&A partner Michael Hardy in Baltimore.
Duane Morris also works on key bankruptcy matters out of its Wilmington office. Michael Lastowski, managing partner of the Wilmington office is a key partner of the firm. He advised Mineral Interest Plaintiffs in the Chapter 11 proceeding of Triangle USA Petroleum. The firm also advised the official committee of unsecured creditors on the Chapter 11 case of Real Alloy, a third-party aluminum recycling company.
In Chicago, Duane Morris advises lenders on middle market banking transactions. The firm can be seen advising big names like Canadian Imperial Bank of Commerce (CIBC) and JPMorgan, but also advises more regional and local players like Byline Bank, a Chicago-based bank and Wintrust a Rosemont, Illinois-based bank.
Many of the firm’s transactions are either syndicated financings, acquisition financings or healthcare financings. In the healthcare sector, the firm advised CIBC with multiple healthcare financings and advised PrivateBank in a $128 million financing to a borrower group involving skilled nursing homes. In the syndicated financing space, the firm advised JPMorgan in the $160 million financing to West Liberty Foods. The firm also advised First Midwest Bank on a $22 million and a $27 million acquisition financing.
Duane Morris has built its restructuring practice representing clients in all aspects of the bankruptcy and restructuring area. While the practice began advising creditors and acquirers, they’ve recently developed a debtor practice as well to add to their broad practice. Complex commercial Chapter 11 cases comprise the majority of their transactions for the firm’s Boston lawyers, which can be highlighted in their dealing with the Canadian construction giant Aecon in their Chapter 11 case filed by Westinghouse Electric Company and certain affiliates in the Southern District of New York. While their Boston restructuring practice deals with some of the largest transactions in the field, the majority of their transactions are multijurisdictional and don’t necessarily focus on businesses in Boston.
The firm’s capital markets practice routinely represents issuers, underwriters, placement agents, investment banks and investors in public and private offerings in a variety of transactions. The team also consists of a number of lawyers with previous SEC staff experience, offering thorough and in-depth perspectives for its clients. The team’s experience can be exhibited in its representation of Unitil, a publicly listed utility holding company, in its $90 million private offering of senior notes by three of its subsidiaries to large institutional investors.
The firm’s Boston M&A team stays active in many transactions across the US as well as overseas, which can be exhibited in its representation of BlueCat Networks, a leading Canadian information technology infrastructure company, in its sale to Madison Dearborn Partners, one of Canada’s largest technology transactions in the last year.
The firm’s banking practice handled several highlight deals from its Philadelphia office, including representing the Pennsylvania Turnpike Commission on an $800 million financing and borrower PeroxyChem in connection with a $180 million credit facility.
The Duane Morris capital markets group was particularly active in the previously mentioned pharmaceuticals space, representing biotechnology company Immunome on a $20 million stock offering, among other deals with industry clients led from the Philadelphia office.
Like the capital markets team the M&A group saw pharmaceutical industry work, including advising Prinston Pharmaceutical on its acquisition of a North Carolina drug manufacturing plant from Par Pharmaceutical.
“Duane Morris does a superb job for us on our corporate work, including general corporate governance matters and M&A. We engaged them for a recent domestic acquisition and from a responsiveness and value standpoint we could not have selected a better firm. The attention to detail, industry (healthcare) knowledge at a macro and micro level, and availability of other specialists was critical to executing on a short time frame.” – M&A
“Very strong practice with excellent practitioners.” – Restructuring and insolvency
“One of the best lawyers I have worked with.”
“Sandra is a master of driving deals to execution, engaging all necessary players on time, within budget and with no time wasted. She is extremely collaborative but also understands what will be important to the client.”
Morris Nichols Arsht & Tunnell, founded in 1930, is considered one of the top firms for restructuring and insolvency deals in the Delaware market. The firm is also a top player for M&A in Delaware. Based in Wilmington, the firm is a member of TerraLex, a legal network which has over 600 offices in 100 countries.
It is clear from the firm’s transactional record that it remains a go-to firm for clients partaking in or approaching Chapter 11 bankruptcies. The firm advises a range of parties including debtors, creditors, acquirers, ad hoc and others. The firm advised Calera Capital, a private equity firm, on the $1 billion chapter 11 restructuring of its portfolio company Modular Space Corporation, a provider of temporary and permanent modular buildings. The firm also advised Hercules Offshore, a Houston-based oil driller, on its Chapter 11, valued at $521 million. Additionally, the firm advised Oaktree on Molycorp’s $1.7 billion Chapter 11. The firm advised the ad hoc committee of term loan lenders on Sports Authority’s Chapter 11.
The firm also has a robust M&A practice, where it often advises on alternative entities matters and serves as Delaware co-counsel on giant international deals. The firm works in a range of sectors and advises both acquirers and sellers. The firm advised Bayer, a pharmaceuticals company, on its $66 billion acquisition of Monsanto, an agrochemical company. The firm also advised Baker Hughes, an oil and gas company on the $7.4 billion combination with General Electric.
The firm’s M&A practice also has a significant private equity component. The firm has advised clients such as TPG, Colony, Oak Hill, BlackRock, Vanguard and Prudential. The firm acted as Delaware counsel on the merger of Colony Capital and NorthStar, valued at $58 billion.
Pachulski Stang Ziehl & Jones, a bankruptcy boutique headquartered in Los Angeles that maintains a leading restructuring and insolvency practice in California and Delaware.
In California, the firm worked on the Chapter 11 of Arecont Vision Holdings, a manufacturer of network cameras and megapixel surveillance cameras. The firm also advised the creditors committee on the Chapter 11 of Woodbridge Group. Richard Pachulski and Jeffrey Pomerantz are recognized as Highly Regarded lawyers.
In Delaware, the firm is widely considered to be one of four top players in the market. Laura Davis Jones is recognized as an IFLR1000 Highly Regarded lawyer. The firm has worked on key transactions such as the Chapter 11 filing of EV Energy Partners, an oil and gas MLP. The firm also advised GST AutoLeather, an automotive leather components company, on its Chapter 11 filing.
Pepper Hamilton, based in Philadelphia, was founded in 1890. In Pennsylvania, the firm is a member of international network Lex Mundi. Pepper Hamilton maintains 13 offices in the United States, four of which are in Pennsylvania. As a whole, the firm has over 425 lawyers. In IFLR1000, the firm is recognized for its work in Pennsylvania and Delaware. The firm frequently works on deals in the pharmaceuticals and life sciences industries.
Pepper Hamilton added partner Deborah Spranger to its health sciences department in Berwyn this past year. Spranger joined Pepper Hamilton from Saul Ewing Arnstein & Lehr. In Philadelphia, Pepper Hamilton banking group hired Lisa Kabnick as senior adviser and Kathryn Pourmand Nordick as partner. Kabnick specialises in lender-side transactions, while Nordick focuses on acquisition and syndicated financings.
The firm has received peer recognition for its bankruptcy work in the state. The firm advised Gibson Brands, a guitar maker, with its Chapter 11 case and is advising Radio Shack with its bankruptcy proceedings.
In addition to its Philadelphia headquarters, Pepper Hamilton has Pennsylvania offices in Pittsburgh, state capitol Harrisburg and Main Line suburb Berwyn.
One recent highlight for the firm’s Pennsylvania capital markets practice was biotechnology company Amicus Therapeutics’ $250 million stock offering. The firm represented Amicus on the offering.
Potter Anderson is headquartered in Wilmington Delaware and was founded in 1826. Within Delaware, the firm also maintains an office in Dover.
The firm is considered one of the top M&A firms in the Delaware market. “Potter Anderson has a good M&A practice,” one peer says. The firm advises a mix of acquirers and sellers and has worked in a range of sectors. Its transactions frequently exceed $1 billion in value.
In one transaction, the firm advised Optum, a division of UnitedHealth Group, in its $1.3 billion acquisition of Advisory Board. The firm advised the same client on a $2.3 billion acquisition of Surgical Care Affiliates. The firm advised CommerceHub on its $1.1 billion acquisition by two private equity firms, advised Regal in a $3.6 billion merger with Cineworld and advised Liberty Interactive in acquiring the remaining shares (a 62% stake) of HSN for $2.1 billion. The firm also advised DuPont in a $1.6 billion asset swap with FMC and advised VCA in a $9.1 billion acquisition by Mars.
The firm also has an active restructuring and insolvency practice. For example, the firm advised CST Industries, a storage system provider, with its Chapter 11 filing.
Richards Layton & Finger, founded in 1899, is headquartered in Wilmington, Delaware. The firm is a member of Lex Mundi, an international network of firms which tend to be leaders or prominent players in their respective jurisdictions.
The firm is considered one of top firms in the state for restructuring matters. For example, the firm advised Chaparral Energy, an oil and natural gas exploration and production company, on its $1.7 billion restructuring. The firm also advised Claire's, a jewelry & accessories chain, on its Chapter 11 bankruptcy.
The firm is also considered one of the top firms in the market for M&A work. The firm acted as Delaware counsel to a committee of independent directors in connection with the $146 billion merger of Sprint and T-Mobile. The firm also advised CH2M on its $3.27 billion acquisition by Jacobs Engineering and advised Rockport, a footwear company, on the sale of its assets to Charlesbank.
Skadden Arps Slate Meagher & Flom has continued to bolster its reputation by handling some of the most complex business and corporate transactions to date.
The team’s ubiquitous banking practice, which boasts offices in the major financial centers on 5 continents, advises in a broad spectrum of legal systems to the world's largest investment banks, commercial banks, private equity sponsors, hedge funds and other financing sources. The team’s involvement in many high-level transactions can highlighted in its representation of Morgan Stanley Senior Funding and Bank of America Merrill Lynch in a new $7.1 billion unsecured bridge facility to Crown Castle International for its acquisition of LTS Group Holdings from Berkshire Partner, Pamilco Capital and other investors, as well as JPMorgan Chase as administrative agent in the $1 billion increase to Crown Castle International's existing $2.5 billion credit facility.
The firm’s capital markets group is broken up into the corporate finance, high-yield practice, as well as a practice dedicated to debt and equity. In its high-yield practice, Skadden has represented issuers and underwriters in many notable offerings in recent history, which can be seen in its deal advising KAR Auction Services in its $950 million Rule 144A/Regulation S high-yield offering of 5.125% senior notes. This was KAR’s first high-yield notes offering in a decade. In its debt and equity practice, the firm advised WeWork on its $4.4 billion investment by SoftBank Group and SoftBank Vision Fund, which consisted of a $3 billion investment in WeWork’s parent company via a primary investment in new Series G shares and a secondary purchase of existing shares, as well as a $1.4 billion investment in three newly created companies.
Skadden’s M&A practice is continually involved in some of the world’s largest transactions to date, which can be highlighted in their representation of Twenty-First Century Fox in its $66 billion acquisition by the Walt Disney Company and the related pre-merger spin-off of particular news, sports, and broadcast businesses. Furthermore, the team continued to represent Twentieth Century Fox as co-counsel with the English law apsects of its $14.8 billion acquisition of the remaining stake in Sky, a European media and telecommunications company.
In the restructuring space, the firm continues its involvement in some of the largest deals to date, for instance advising SunEdison and of its subsidiaries in a Chapter 11 reorganization in the US Bankruptcy Court. At the time of its filing, SunEdison’s liabilities exceeded $15 billion and involved two-thousand affiliated companies on 6 different continents.
Skadden’s Boston practice handles M&A transactions for clients across an array of different industries, specializing in negotiated acquisitions and dispositions, hostile transactions, joint ventures, governance issues on behalf of directors and senior management, as well as corporate restructurings. The team’s Boston practice expertise can be exhibited in its representation of Merrimack Pharmaceuticals in the $1 billion sale of its cancer treatment drugs ONIVYDE, including US commercialization rights and its licensing agreement with Shire, an Irish biotech company, and generic DOXIL to Ipsen, a French pharmaceutical company.
The firm’s Washington DC practice focuses on M&A transactions.
The team’s extensive experience in high level M&A transactions can be seen in its representation of The AES Corporation and Alberta Investment Management Corporation (AIMCo) on its acquisition of sPower, the largest independent owner, operator and developer of utility-scale solar assets in the US, from Fir TREE Partners and its minority owners for approximately $1.6 billion. In many of the firm’s high-level transactions, Skadden attorneys collaborate with its global M&A team, located in various locations across the US and world.
The firm operates active M&A, banking and restructuring practices out of its Chicago office.
The firm’s banking practice in Chicago often works on acquisition financings. For example, the firm advised Cardinal Health in a $4.5 billion credit facility in relation to its acquisition of Medtronic’s business. The firm also advised on the banking aspects of Rockwell Collins’ $30 billion acquisition by United Technologies. The firm also worked on refinancings over the research period. For example, the partners advised Standard Chartered Bank as agent in a $1.8 billion credit facility to Novelis to refinance a loan. The firm also advised Citibank in an $850 million revolving credit facility to Ardagh Group which both refinanced the borrower’s debt and was to be used for general corporate purposes.
The firm advises both acquirers and sellers on high profile M&A transactions. In the aviation space, the firm advised Rockwell Collins on its $30 billion acquisition by United Technologies. The firm also advised Rockwell Collins on its $8.6 billion acquisition of B/E Aerospace. In the healthcare sector, the firm advised Cardinal Health in the $6.1 billion acquisition of Medtronic's Patient Care, Deep Vein Thrombosis and Nutritional Insufficiency business.
The firm’s Chicago office has been particularly active on Chapter 11s over the research period. A couple prominent deals took place in the oil and gas space. For example, the firm advised Triangle USA Petroleum Corporation in a Chapter 11 restructuring and advised Ryckman Creek Resources, a natural gas company,onits Chapter 11 reorganization. In the maritime sector, the firm advised EMAS Chiyoda Subseawith its Chapter 11. On the creditors’ side, the firm advised Unified Grocers (acting as –co-chair of the official committee of unsecured creditors) in the Haggen Chapter 11. That being said, the firm also advises on out-of-court restructurings.
In California, Skadden operates offices in Palo Alto and Los Angeles.
Kristine Dunn and David Kitchen, both based in Los Angeles, are key partners in the firm’s busy California financing practice. The firm advised O’Reilly Automotive in a $1.2 billion senior unsecured revolving credit facility. Acquisition financing is an active area for the firm. The firm advised J.D. Power in the financing of its acquisition of National Appraisal Guides, a publisher of vehicle pricing and vehicle information. The firm also advised Veritas Capital, a private equity firm, with a $175 million asset-based revolving credit facility to finance its acquisition of a division of Chicago Bridge & Iron.
The firm’s California capital markets team advises both issuers and underwriters on both debt and equity deals. In the equity space, the firm advised Five Point Holdings, a California-based developer of mixed-use master-planned communities, in its $438 million IPO. SPACs were an active area for the firm’s capital markets practice. For example, the firm advised Social Capital Hedosophia Holdingson its $600 million IPO. Also in the SPAC space, the firm advised the underwriters on the IPOs of TPG Pace Holdings, Hennessy Capital Acquisition Corp. III and Mosaic Acquisition Corp. In debt capital markets, the firm advised the underwriters on a $250 million notes offer, $300 million notes offer and $1 billion notes offer for Public Storage, a California-based storage company. On the issuer’s side, the firm advised Veritas Capital on its $515 million 7.75% notes issue.
The firm’s California M&A practice is led out of its Palo Alto and its Los Angeles offices. Though the firm works across sectors, technology has been an active sector for the firm. For example, the firm advised Cavium on Marvell Technology Group’s $6 billion acquisition of Cavium, advised Extreme Networks on its $55 million acquisition of Brocade Communications Systems and advised Intel Corporation on its $15.3 billion acquisition of Mobileye.
Also out of Los Angeles, Van C. Durrer II leads the firm in working on both out of court restructurings and insolvency proceedings. One example of the firm’s restructuring work can be seen in its advice to AliphCom, a consumer technology company, with restructuring $300 million of secured debt. In the chapter 11 space, the firm advised Toshiba Corporation with the Chapter 11 filing of Westinghouse Electric Company. The firm has also worked on acquisitions and disposals of assets, related to restructurings and insolvency matters. For example, the firm advised the special committee of the board of directors of Caesars Acquisition Company in its merger with Caesars Entertainment Corporation. This was in relation to Caesar's Entertainment Operating Company's $25 billion restructuring. The firm also advised B. Riley & Co, an investment bank,in a bid to acquire the assets of GolfSmith International Holdings.
In M&A, the Delaware partners often work alongside the partners in Skadden’s other offices to advise on high value transactions. The firm advised Patheon, a pharmaceutical company, in its $7.2 billion acquisition by Thermo Fisher Scientific. The firm also advised Sealed Air Corporation, a packaging company, in its $3.2 billion sale of New Diversey to Bain Capital Private Equity. Additionally, the firm represented Windstream Holdings, a telecommunications company, in its $1.1 billion merger with EarthLink Holdings.
Skadden’s Delaware attorneys have worked on some of the top bankruptcy matters in the market. The Delaware team worked alongside its New York team on SunEdison’s Chapter 11 reorganization. Additionally, the firm has seen Banco Popular de Puerto Rico through several matters including the Doral Financial Corporation chapter 11 case and the PROMESA Title III bankruptcy. The firm also advised Optima Acquisitions on the Chapter 11 filing of Optima Specialty Steel.
Young Conaway Stargatt & Taylor, based in Wilmington, Delaware, is one of the top restructuring and insolvency firms in the state. The firm, founded in 1959, also has offices in New York City and in Georgetown, Delaware.
The firm frequently advises on chapter 11 proceedings. For example, the firm worked on the Chapter 11s of Millennium Lab Holdings, Zohar Funds and Performance Sports Group.