Beginning as a Dallas firm, the firm has grown to practice in a variety of different areas, as well as to operating 20 offices around the world, making it one of the largest international law firms. The firm has US offices in Dallas, Fort Worth, Houston, Irvine, Longview, Los Angeles, New York, Philadelphia, San Antonio, San Francisco and Washington DC.
The firm’s Texas capital markets practice regularly advises issuers, private equity funds and their portfolio companies, as well as obligors and underwriters in a variety of different public and private debt and equity transactions. The team’s experience in Dallas can be exhibited in its representation of Construction Partners in the closing of its initial public offering of 11.25 million shares of its Class A common stock at $12 per share. Construction Partners specializes in the construction and maintenance of roadways across five Southeastern states.
The firm also boasts a Texas corporate restructuring practice representing distressed companies and their investors in corporate reorganizations, asset sales, divestitures and other distressed transactions.
Akin Gump Strauss Hauer & Feld’s Washington DC corporate practice group consists of a small group of attorneys dedicated to M&A, restructuring, capital markets and other finance transactions.
The firm’s Washington DC M&A practice builds on the group’s global practice representing public and private companies, investment funds, special committees, boards of directors, investors, and shareholders in an array of M&A deals. The team’s experience can exhibited in its representation of a special committee of the board of directors of an energy company in its consideration and ultimate acceptance of a $22 billion acquisition proposal by its CEO and a consortium of four private equity investors.
The firm also boasts a Washington DC corporate restructuring practice, representing distressed companies and their investors in corporate reorganizations, asset sales, divestitures and other distressed transactions. The firm’s experience can be highlighted in its representation of Allied Nevada Gold's Chapter 11 filing. The restructuring team has also represented Archbrook Laguna, as well as Atari, among others, in their respective chapter 11 filings.
Gibson Dunn was founded in 1872 in Los Angeles. Since then, in addition to expanding internationally, the firm has expanded into Texas, DC, New York and Colorado.
The firm hired Kevin Masuda who focuses on transactions and M&A within the entertainment and technology sectors from Munger & Tolles in Los Angeles. Also in California, Kahlil Yearwood has joined the firm’s San Francisco office in the real estate finance department.
In addition to its Los Angeles headquarters, the firm can also be found in San Francisco, Orange County and Palo Alto.
Capital markets partners in California advise both issuers and underwriters and work on equity and debt transactions. In one example of the firm’s debt issuer side work, the firm advised Xilinx, a San Jose, California-based semiconductors company, on its $750 million 2.95% notes issue. The firm also advised TRI Pointe Group on a $300 million 5.25% notes issue. The firm also regularly advises Wells Fargo Securities, a California-based financial institution, as underwriter on a variety of notes offerings, issued by Wells Fargo & Company. CalAtlantic Group was another client of the firm, which the firm advised on both equity and debt matters. On the debt side, the firm advised the client on a $225 million offering of senior notes and a $350 million 5% senior notes offering. On the equity side, the firm advised the client on a $394 million stock offer.
Though the firm works in a range of sectors, a lot of its M&A work is in healthcare and technology. In technology, the firm advised Riverbed Technology on the acquisition of Xirrus, a WiFi products company based in Thousand Oaks, California and advised HTC Corporation on the $1.1 billion sale of HTC’s Pixel phone business to Google. In healthcare the firm advised Group Health Cooperative, based in Seattle, in its $1.8 billion sale to Kaiser Permanente, advised St. Jude Medical in its $30.7 billion sale to Abbott Laboratorie and advised Otic Pharma in the acquisition of a 60% stake in Tokai Pharmaceuticals. Also within M&A, the firm advised CalAtlantic Group, an Arlington County-based homebuilder, on its $9.3 billion merger with Lennar Corp, a Miami-based homebuilder. The firm also helped BWAY Corporation, an Atlanta based company with the $2.3 billion acquisition of Mauser Group, an industrial packaging company.
Three partners, Beau Stark, Steven Talley and Robyn Zolman, lead Gibson Dunn’s M&A practice in Denver. The practice focuses on high value national and international transactions. The energy, telecoms and natural resources sectors have been busy sectors for the office. The firm advised The Williams Companies, an Oklahoma-based natural gas company, in several high value transactions this research period including an $11.4 billion financial repositioning and a $2.1 billion sale of Williams Olefins. Also in the energy sector, the firm helped Encino Energy form a $1.025 billion joint venture with Canada Pension Plan Investment Board (CPPIB). In telecoms, the firm advised Zayo Group with a $1.42 billion acquisition of Electric Lightwave.
Robyn Zolman, also an M&A partner, has led the firm’s highlight capital market transactions. Recent capital markets transactional highlights focus on the energy sector. Though the firm as a whole advises issuers and underwriters, all of the highlight transactions in Denver focused on advising issuers on a mix of debt and equity transactions. On the equity side, the firm advised The Williams Companies with its $2.17 billion stock offer and Atmos Energy with its $404 million share offer. On the debt side, the firm again advised Williams Partners with a $1.45 billion issue of 3.75% senior notes due 2027, advised Northwest Pipeline with a $250 million 4% note issue and advised Atmos Energy with a $750 million 3% notes issue.
A West Coast firm, Gibson Dunn & Crutcher still punches with plenty of weight from the other side of the country, so much so that it is truly a leading national US firm. Gibson Dunn operates a highly active and accomplished New York office, where its main strengths are its M&A and capital markets practices; however, Gibson Dunn’s banking and restructuring capabilities in New York are also impressive. New York is also one of the centres for Gibson Dunn’s global finance practice.
The capital markets team represented issuers and underwriters on a number of significant debt and equity offerings. Among the sectors that the New York-based capital markets team was most active in were shipping and food and beverage. With regards to shipping, Gibson Dunn represented the underwriters in connection with United Parcel Service’s (UPS) $400 million notes offering in May 2017. In the food and beverage industry, the team guided issuer Chobani Global Holdings on a $530 million notes offering in April 2017.
Gibson Dunn’s M&A practice handled a number of highlight deals out of its M&A office, with many of those deals coming from the pharmaceutical, energy and technology sectors. Among those deals was work for pharmaceutical giant Merck on its $8.5 billion joint venture with AstraZeneca. From the energy sector, Gibson Dunn represented South Jersey Energy on its $1.7 billion acquisition of Elizabethtown Gas and Elkton Gas from Pivotal Utility Holdings.
Gibson Dunn & Crutcher’s Texas practice represents clients in a variety of M&A and capital markets transactions.
The firm has worked on some of Texas’s biggest capital markets transactions. For example, the team advised Barclays Capital as underwriter on the $783.7 million share issue by Targa Resources, a Texas-based mid-stream energy company.
The team is also active in the M&A space, representing DR Holmes, a large Texas-based home construction company on the acquisition of 75% of the outstanding shares of Forestar Group, a real estate development firm.
In addition to the firm’s well established Dallas office, Gibson Dunn & Crutcher announced the opening of its first office in Houston in February 2017. In March 2017, the firm announced the hire of partners Michael Darden from Latham & Watkins and Justin Stolte from Apache Corporation. Then in April 2017, the firm announced the hire of six energy partners from Baker Botts. This included the hire of Tull Florey, former chair of Baker Botts Houston’s corporate practice, and the hire of Hillary Holmes, Shalla Prichard, Doug Rayburn, Gerry Spedale and James Chenoweth.
The firm operates an active M&A practice out of its Washington DC office, with the firm’s co-chair of global M&A, Stephen Glover, at the helm.
The DC practice’s involvement in some of the largest mergers in the greater Washington DC area can be seen in the firm’s representation of Marriot International in its $1.35 billion sale of a 55% stake in Avendra, a hospitality procurement services provider and in its acquisition by Aramark, a contract food services provider. The team also advised Marriot in its acquisition of Starwood Hotels.
McDermott Will & Emery was founded in Chicago in 1934. Since then the firm has branched out across the United States with offices in Massachusetts, New York, Texas, California, DC and Florida. Although the firm works across a range of sectors, it has established itself as a powerhouse when it comes to healthcare transactional work.
Regular banking clients include the likes of Wells Fargo, Bank of America, JPMorgan Chase and Capital One. More recently, the firm acquired City National Bank and MidCap Financial as clients
The firm gained four financial and corporate partners in Chicago including Gregory Metz in M&A, Joshua Samis in private equity financing, Michael McStay in mid-market private equity and Anh Lee in debt financing. Armando Ramirez and Jeffrey Meyers, who both focus on acquisitions and financings within the energy and infrastructure sectors, joined the New York office. Also in New York, Ivan Presant joined the M&A practice. In Miami, the firm added Roy Larson as an M&A partner.
In M&A, the firm’s California team advised Intuitive Surgical on its joint venture with Fosun Pharma. The firm also advised Virttu, a biopharmaceutical company, on its acquisition by TNK Therapeutics. Technology is also an active practice within California M&A, although most technology work is confidential.
In the financing space, lawyers led by Gary Rosenbaum in California advised new client MidCap Financial on several financings including a $345 million financing to fund the acquisition of an insurance brokerage. City National Bank is a big client for the firm. The firm advised the bank on a $90 million syndicated loan to Monrovia Nurseries. The firm also advised JPMorgan Chase Bank on granting a credit facility to Beecken Petty O'Keefe & Company, a Chicago-based private equity firm.
Chicago is McDermott Will & Emery’s headquarters, and the firm conducts a significant amount of financing and restructuring work out of this office.
The firm’s banking team often advises private equity firms as borrowers on acquisition financings.
HIG Capital, a Miami-based private equity firm is a frequent client. McDermott has advised HIG Capital on financing a number of acquisitions including the acquisition of Just Home Healthcare services and of Scuf Gaming.
A few recent transactions demonstrate the firm’s healthcare expertise. In one transaction, the firm advised Capital One Healthcare as agent on the $310 million syndicated senior credit facilities provided to Diplomat Pharmacy. The firm also advised Care Capital Properties on financing for the acquisition of six behavioral health hospitals.
In Chicago, the firm divides its restructuring and insolvency practice into three categories: healthcare bankruptcy, municipal insolvency and transactional advice. Within municipal insolvency, the firm advised Goldman Sachs Asset Management on Puerto Rico’s $73 billion bankruptcy. In healthcare, the firm is advising Baptist Healthcare System with a turnaround plan for $600 million of debt and helped Presence Health with refinancing its debt.
The firm’s M&A practice advises a mix of M&A clients and private equity firms. Several private equity funds are regular clients of the firm including Great Points Partners and Industrial Opportunity Partners.
The firm helped Motorola Solutions acquire Spillman and its affiliate Citadex. Like the financing practice, the firm’s M&A practice is also very active in the healthcare sector. For example, the firm helped Steward Health Care System acquire IASIS Healthcare for $2 billion.
McDermott Will & Emery’s Boston team is focused on high-end corporate, domestic and cross-border M&A, primarily specializing in middle market and upper-middle market work, as well as private equity and securities work.
The firm’s Boston office is a market leader in life sciences and healthcare transactions with close ties to many pharmaceutical, healthcare, and technology companies, which can be exhibited in its representation of Advent Life Sciences, one of Europe’s most established venture and growth capital firms, in its investment in Moximed, joining existing investors NEA, Morgenthaler Ventures, and Vertex Healthcare, among others.
A consistent player in many middle and high-level transactions, McDermott Will & Emery has continually maintained its reputation as one of the biggest and most respected firms across the US. The firm focuses much of its energy on maintaining long term relationship with multinational companies, while also representing rising entrepreneurial firms, investors and capital providers, and many of the world’s wealthiest families. Beginning as a local Chicago firm, McDermott Will & Emery has grown to become a major global player with offices around the United States in major cities such as: Boston, Dallas, Houston, Los Angeles, Orange County, Silicon Valley, Miami, New York, Washington DC; as well as overseas in Brussels, Dusseldorf, Frankfurt, London, Milan, Munich, Paris, Seoul & Shanghai.
The firm’s banking practice consists of 25 experienced attorneys across the Chicago, California, New York, Dallas, Boston, Washington DC and Miami offices.
The firm’s New York practice represents many private clients and wealthy families in a variety of direct investing transactions. The firm’s international presence is also well known, as a large portion of the New York corporate practice is focused on Israeli technology and biotech companies, advising on more US IPOs for Israeli companies than any other law firm. The firm also maintains a large presence with businesses in Korea, as well as Germany. The firm’s presence in some of the largest international deals to date can be highlighted in the representation of Evonik, a German multinational chemical company, on its $3.8 billion acquisition of the performance-materials unit from Air Products & Chemicals, the largest acquisition ever for the German specialty chemicals company.
McDermott Will & Emery’s California transactions practice consists of 15 lawyers across the Silicon Valley and Los Angeles offices, where it focuses efforts on healthcare, life sciences, technology and emerging companies, as well as collaborating with the firm’s Shanghai office.
Ted Laurenson moved from the firm’s New York to its Silicon Valley office, boosting the firm’s securities investment management and broker-dealer practice in California.
The firm has an active M&A practice out of its Dallas office, focusing primarily on the upper middle-market space. The firm’s involvement in some of the market’s largest mergers can be seen in its representation of Amazon, acting as deal counsel alongside Sullivan & Cromwell attorneys for Amazon in respect of its $13.7 billion acquisition of Whole Foods. The deal marks Amazon’s biggest-ever acquisition and transforms Amazon into a grocery giant overnight. The team also has boasts a continued relationship with Dallas based convenience store chain 7-Eleven.
The firm’s Texas practice began in 2015 with the acquisition of a group of partners from K&L Gates.
The firm’s Washington DC office represents U.S. and international companies in an array of upper middle-market M&A transactions.
The team’s involvement in many high-level transactions can be seen in its representation of Steward Health Care System in connection to its $2 billion acquisition of IASIS Healthcare, resulting in Steward becoming the largest private hospital operator in the US, with 36 hospitals across 10 states, as well as a projected revenue of $8 billion in its first year of merged operation.
"Gary is a very detailed and thoughtful attorney. Gary strikes a balance between possible legal outcomes and probable legal outcomes. Gary also is very knowledgeable of the debt markets."
"Excellent experience, knowledgeable and viewed as a premier counsel to Debtors and Lenders within healthcare insolvency cases and other general insolvency situations. He has a National reputation for premier service and results."
Headquartered in Philadelphia – where the firm was founded in 1873 – Morgan Lewis & Bockius is a leading national firm. In addition to its headquarters, the firm operates 16 other US offices, including in New York, San Francisco, Dallas and Los Angeles. Morgan Lewis has a particularly extensive reach in the Northeast, with offices dotting smaller cities such as Hartford, Connecticut, Wilmington, Delaware and Princeton, New Jersey.
Unwilling to rest on its laurels, Morgan Lewis went out and added a number of attorneys this past year. In Texas, the firm welcomed energy sector finance specialists Adrian Talamantes and John Crespo as partners from law firm King & Spalding.
Meanwhile, the firm boosted its M&A practice in the New York with the hiring of partners Robert Goldbaum and Nathan Pusey from Paul Hastings.
Morgan Lewis operates five California offices: Century City, Los Angeles, Orange County, San Francisco and Silicon Valley.
Out of California, the firm has represented lenders and banks in upper middle market credit facilities. Most recent transactions were confidential but one partially disclosable transaction involves the firm’s advice to Bank of America on a $330 million asset-based revolving credit facility and $30 million term loan to a borrower.
The firm also runs an active project finance practice out of California. Solar and natural gas have been busy sectors. While the firm’s commercial lending practice has primarily advised lenders over the research period, through its project finance group the firm also advises borrowers and developers. For example, the firm advised Coronal Group, a solar developer, on a $162.4 million financing for installing three solar projects at military bases in Florida. The firm also advised Coronal Energy on the financing of three solar projects in Virginia.
Morgan Lewis’s M&A practice has worked on key transactions out of its California offices. For example, the firm advised DoubleUGames, a casino gaming publisher, on its $825 million acquisition of Double Down Interactive, a provider of online casino games, from IGT. The value of many of the firm’s M&A transactions were confidential, but the firm also advised Humabs BioMed in its sale to Vir Biotechnology, Nippon Life Insurance in an acquisition of a 24.75% stake of The TCW Group and advised Amazing Grass in its sale to Glanbia.
The firm’s M&A practice also has a strong private equity focus. The firm advises the likes of Apollo Global Management, SK Capital Partners and Arsenal Capital Partners. Platinum Equity has also been a key client over the research period. The firm advised Platinum Equity on the acquisition of the businesses of Cox Target Media from Cox Media Group and advised its portfolio company Vertiv Group Corp on the $1.25 billion sale of Vertiv's ASCO Power business unit to Schneider Electric. The firm also advised Platinum Equity’s portfolio company, Securus Technologies, in its acquisition of Jobview. In the technology sector, the firm advised StoneCalibre, a Los Angeles-based investment firm, on the acquisition of Applied Voice & Speech Technologies.
Morgan Lewis & Bockius maintains a strong Boston practice, representing commercial banks and financial institutions, public and emerging companies in the energy, life sciences, technology, family businesses, as well as broker dealers and investment funds in an array of different finance and banking transactions. The Boston team’s expertise can be exhibited in its representation of Bank of America as administrative agent in a $272.5 million asset-based debtor-in-possession credit facility to the Gymboree Corporation, among others.
The firm also boasts a large M&A practice in Boston, as seen in its representation of Iron Mountain with regards to its agreement to acquire the US operation of IO Data Centers for $1.32 billion. Iron Mountain will acquire the land and buildings associated with four data centers in Phoenix and Scottsdale, Arizona; Edison, New Jersey; and Columbus, Ohio.
Morgan Lewis’s capital markets practice spans almost every aspect of the equity and debt securities markets, including structured and derivative securities and cross-border transactions.
The Boston team’s capital markets experience can be seen in its representation of CarGurus on its recent IPO on the Nasdaq, where CarGurus issued and sold $3.2 million shares of Class A common stock and the selling stockholders sold an additional 7.6 million shares of Class A common stock.
Morgan Lewis’ New York M&A practice is a particular stand out, while the banking group is also a strength. On the banking and finance side, the team counts JPMorgan Chase and private equity firm Ares Capital amongst its key clients.
The financial services, media and food and beverage sectors were particularly active sectors for the firm over the past year. One highlight from the food and beverage industry was the highly publicised $40 billion merger between the Dr Pepper Snapple Group and Keurig Green Mountain. Morgan Lewis advised Dr Pepper Snapple on the deal, which was announced in January 2018.
The capital markets group in New York was busy with noteworthy debt and equity offerings in 2017-18. The firm primarily served as issuer’s counsel, including on Hostess Brands’ $350 million secondary offering and two debt offerings by Florida Power & Light Company totalling $1.45 billion.
One highlight deal for the restructuring group saw it advise on Chicago Bridge & Iron Company’s $3.5 billion restructuring.
In addition to its headquarters in Philadelphia, Morgan Lewis has an office in Pittsburgh, giving the firm footholds in both geographical ends of Pennsylvania’s legal market. The firm’s Pennsylvania offices have very active M&A, capital markets and restructuring teams.
The technology, telecommunications and utilities sectors were both big sources of work for Morgan Lewis’ Pennsylvania M&A attorneys this past year. One such highlight deal was Atlantic Broadband’s $1.4 billion acquisition of cable systems from Harron Communications. Morgan Lewis represented Harron on the deal.
Meanwhile, the capital markets team fielded significant work for debt and equity issuers and underwriters. One highlight on the equity side was a $238.1 million public offering by real estate investment trust (REIT) Gramercy Property Trust. Morgan Lewis guided Gramercy on the deal.
The firm’s Pennsylvania restructuring group picked up some significant work in the insurance and energy industries.
Morgan Lewis & Bockius’ Texas practice focuses on banking and finance transactions, with particularly strong experience in project finance for the conventional power, oil and gas, and renewables industries.
The firm’s experience in significant project finance transactions in Texas can be exhibited in the firm’s representation of the US subsidiary Akuo Energy on the financing of a wind farm in Rocksprings, Texas. The team assisted Akuo Energy on acquiring the project out of SunEdison’s bankruptcy. Morgan Lewis also represented Akuo in its first financing of a wind project in 2017.
The firm’s Washington DC practice focuses on capital markets transactions, primarily in representing issuers and underwriters in equity and debt transactions, including many US and global public listings of securities and stock exchange listings.
The team’s experience in the greater Washington DC market can be highlighted in its representation of Jefferies Group in the public offering of its 4.85% senior notes due 2027, with Jefferies serving as sole bookrunner and Deutsche Bank Securities, HSBC Securities, Natixis Securities, Citigroup Global Markets and US Bancorp acting as co-managers.
“Morgan Lewis delivers excellent value for the money… They help us execute on transactions in a lightning fast manner while keeping the negotiations friendly and commercial.” - Banking and finance
“We have very high regard for the MLB team and the service they provide us - they are a terrific combination of high Wall Street standards but for better value, plus we enjoy our work with them - they often bring character and personality to their work with us.” – M&A
“All of my interactions with the firm have been excellent. Very responsive and a deep knowledge base.” - Capital markets
“Charlie is fabulous. We trust his views deeply and greatly appreciate that, despite his seniority and managerial duties at MLB, he remains very dedicated to us as a client when we need him.”
“In particular, Dan Papermaster has a complete view of debt financing world and has a strong supporting team allowing Morgan Lewis to be our go to debt firm.”
“Excellent in energy project finance, credit agreements and long term investment agreements.”
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.