Founded in Philadelphia in 1885, Ballard Spahr is a firm with truly national capabilities. In addition to cities like New York, Los Angeles and Atlanta, the firm’s 15 offices include places such as Las Vegas, Salt Lake City, Phoenix and Sioux Falls, South Dakota, giving Ballard Spahr’s practice groups reach into every region of the US.
In Minnesota, the firm moves up to tier 2 in the M&A rankings this year.
ACOVA, a pharmaceutical company, was an active client over the research period that the firm advised on the sale of an epilepsy drug development program to UCB Biopharma and on the sale of a UK research facility and early-stage drug development programs. The firm also advised Nuvera Communications on its acquisition of the outstanding capital stock of Scott-Rice Telephone from Allstream Business and advised WSI Industries on its sale to Polaris Industries.
Briggs and Morgan is a Minneapolis-based firm, which also maintains offices in St. Paul, Minnesota and Denver, Colorado. The firm was highlighted by its peers as an active M&A firm.
In one public transaction, the firm advised the Pohlad family on its acquisition of PaR Systems, a Shoreview, Minnesota -based engineering firm.
Dorsey & Whitney is headquartered in Minneapolis, Minnesota but has offices across the world. M&A and capital markets are clear strengths for the firm and the firm’s robust national capital markets practice allows several of its offices to stand out in states where there are few firms doing capital markets work.
The firm has a leading capital markets practice in Minnesota and is active on both debt and equity deals. On the debt capital markets side, the firm advised The Mosaic Company, a producer of concentrated phosphate and potash crop nutrients, on its $550 million 3.25% and $700 million 4.05% senior notes sale. The firm also advised Carlisle Companies on its issue of $400 million 3.5% notes due 2024 and $600 million 3.75% notes due 2027. On the equity capital market side, the firm advised William Blair as underwriter on the stock offer of Tactile Systems Technology.
Dorsey & Whitney is one of the top M&A firms in the Minnesota market. Healthcare has been an active sector for the firm this research period. In healthcare, the firm advised Zyga Technology on its sale to RTI Surgical, United Healthcare Group on its acquisition of the Medicaid business of INTotal Health and United Healthcare Group on its acquisition of National MedTrans. That being said, the firm works in a range of sectors. In one prominent deal, the firm advised the Special Committee of the Board of Directors of Lifetouch, a photography company, in the sale of all of its outstanding shares to Shutterfly for $825 million.
Real estate is also a key practice area for the firm. Recent deals have focused on advising clients on acquisitions and sales of properties, but the firm has also worked on financings, leases and other development matters. IRET (Investors Real Estate Trust) is a frequent client of the firm, and the firm has represented IRET on the $368 million sale of 25 medical office properties, on the $128.7 million acquisition of a family residential project and on the $500 million sale of medical and office buildings. Other key clients this research period included the City of Edina and United Properties Development.
Faegre Baker Daniels is the result of a 2012 combination of Faegre & Benson (based in Minneapolis) and Baker & Daniels (based in Indianapolis). The firm is Lex Mundi’s sole member firm in both Minnesota and in Indiana.
Within Minnesota, the firm is a top firm when it comes to banking, capital markets and M&A work and is also recognized for its restructuring and insolvency practice.
The firm has an active capital markets practice and a lot of its work involves advising the underwriters in equity capital markets deals. For example, the firm advised Northland Securities and Lake Street Capital Markets as underwriters on the IPO of Super League Gaming and advised Craig-Hallum Capital Group as the sole managing underwriter on DiaMedica Therapeutics’ $16.4 million IPO.
The firm’s M&A team is active in the middle market space, but also works on transactions that fall above this. Transactional highlights include the firm’s advice to Bemis Company, a packaging products manufacturer, on its $6.8 billion merger with Amcor, a Melbourne, Australia-based global packaging company, and advice to Endocyte, a biopharmaceutical company, on its $2.1 billion acquisition by Novartis, a Basel, Switzerland-based pharmaceutical company.
On the restructuring and insolvency side, the firm advised the indenture trustee of $200 million of second-lien notes in Indalex Holdings Finance’s insolvency proceeding.
Over the research period, Veronica Basel joined the firm’s M&A team as counsel.
Fox Rothschild is a Philadelphia based firm with 28 offices across the United States. The firm is recognized by IFLR100 for its work in Washington, New Jersey, Pennsylvania and Minnesota.
Within Minnesota, the firm has an active M&A practice.
The firm’s M&A team advised SpineThera on an option agreement where Purdue would have the exclusive option to acquire SpineThera
Fox Rothschild established a nationwide private equity group over the research period which Minneapolis partner Phillip Martin is acting as co-chair of.
Fredrikson & Byron is a Minneapolis-based firm that operates seven offices, five of which are in the United States. The firm is strong in capital markets and M&A.
In M&A, the team advised the buyers in their acquisition of Peace Coffee from the Institute for Agriculture and Trade Policy (IATP) and advised Thomson Reuters in its acquisition of O’Connor’s.
Gray Plant Mooty maintains headquarters in Minneapolis and also operates offices in St. Cloud, Minnesota, DC and Fargo, North Dakota. The firm broke into tier 2 of the M&A rankings this year and is an active M&A and restructuring and insolvency firm.
In M&A, the firm advised BiteSquad, a food delivery business, on its $325 million merger with food delivery business Waitr Holdings.