Mergermarket data provided exclusively to The Texas Lawbook shows that deal flow quarter over quarter continued at a rapid clip in the first half of the year, but the deal values came with a heftier price tag in Q2. And in this week’s Corporate Deal Tracker Roundup, July continues to lag – though nothing new based on comparative data.
While public offerings and mergers tied to SPACs have cooled in the past few months, transaction activity tied to Texas companies in the first half of 2021 pretty much reflected the broader themes seen across the country. New H1 data from Mergermarket shows that Texas-based dealmaking is in lockstep with the rest of the planet on the road to recovery. The Lawbook’s Anna Butler describes what seems to be driving the moment.
White & Case septupled its M&A deal count in Texas so far this year. Skadden Arps, Alston & Bird and Shearman & Sterling at least tripled its Texas M&A activity during the first six months of 2021. But one law firm broke Mergermarket’s record for most transactions for H1 in Texas history. The Texas Lawbook has exclusive details.
The first half comparison between 2020 and 2021 isn’t pretty (if you’re 2020). Efforts to bolster corporate practices in the past year are on-display in The Texas Lawbook‘s first swipe at the exclusive data provided by Mergermarket. And reported M&A and capital markets activity cooled slightly during the holiday week in this week’s Roundup.
Transaction volume in oil and gas is expected to continue at a consistent clip through the rest of the year. The Texas Lawbook has more on the outlook in the space – with Skadden partner Eric Otness of Houston adding perspective to the midyear update.
The adoption and development of battery storage systems could mean big things for the energy transition and middle-market private equity firms are taking note. Kirkland’s Shubi Arora touches on the potential of backing the technology in this week’s edition of the Corporate Deal Tracker Roundup.
The Dallas-based chemical and specialty materials company is turning to a well-regarded ExxonMobil business to push forward its efforts tied to the red-hot future mobility, medical and sustainability spaces.
Capital spending, oil and gas production and costs are front of mind for energy executives as uncertainty continues to slip away for firms. And in this week’s Corporate Deal Tracker roundup, a handful of Texas-based brands made big moves.
Blackstone is joining GTCR in backing a Fort Worth company in its next phase of growth. Simpson Thacher and Kirkland provided counsel on the investment.
Private equity continues to circle subprime loans and distressed debt opportunities as an investor group led by Warburg Pincus buys out Blackstone funds in Irving’s Exeter Finance.