CDT Roundup: 20 Deals, 15 Firms, 312 Lawyers, $12.2B

If anything defines the last few years in Texas M&A, it's energy consolidation. Big bucks are being dropped to own bigger chunks of the Permian, Gulf Coast LNG production and all the pipeline in between. But the emergence of AI is driving a powerful new influence in the form of digital infrastructure, a sector heavy on the need for energy and real estate — both found in abundance in Texas. The CDT Roundup chatted with Simpson partners Breen Haire and Matt Einbinder on ways in which AI is changing their M&A practice, and it's not what you might think. That, and the usual Roundup breakdown of last week's Texas-related transactions.

August 13, 2024 Claire Poole & Allen Pusey

Mayer Brown Energy M&A Partner Jumps to Baker Botts

Baker Botts announced Tuesday that Rebecca Seidl had joined from Mayer Brown, where she was a partner in the corporate and securities practice group for six years. Seidl, in a news release, cited the firm’s reputation in the energy industry and its global platform as reasons why she made the move.

August 13, 2024 Michelle Casady

CDT Roundup: 26 Deals, 16 Firms, 334 Lawyers, $16.5B

Over the past few months, The Roundup has repeatedly noted a wave of consolidation rolling through the energy space, particularly in the Permian. This week, Enverus M&A Analytics provided comprehensive numbers to back that up. As if to punctuate the point, a few new energy deals queued up for this week's edition of The Roundup, alongside some significant transactions in other, non-energy sectors. Our Claire Poole has them, as always, as part of her weekly accounting of Texas-related deals and the folks who made them happen.

August 6, 2024 Claire Poole

Quantum Capital to Acquire Cogentrix for $3B; King & Spalding, V&E, Latham Advise

Based in Charlotte, N.C., Cogentrix operates natural gas power plants throughout the Eastern Seaboard, New England and Texas. The acquisition, says Quantum's CEO, is driven by the power needs for data centers and AI.

August 5, 2024 Allen Pusey

Emera Sells New Mexico Gas to Bernhard Capital for $1.2B

Davis Polk & Wardwell represented the Canadian seller and Kirkland counseled the Louisiana private equity firm, having advised it on several investments and purchases over the last year.

August 5, 2024 Claire Poole

OCI Sells Texas Ammonia Project to Woodside for $2.35B

Latham advised Woodside while Vinson & Elkins counseled OCI, having advised it on the Beaumont project since inception. It's being billed as the world’s first large-scale, low-carbon intensity hydrogen-based greenfield ammonia facility.

August 5, 2024 Claire Poole

Arcosa Expands into NY-NJ with $1.2B Acquisition

Kirkland advised Arcosa on their purchase of the aggregates and building materials businesses of Stavola Holding Corp. The transaction, largest in the company's history, was paired with the divestiture of a steel components business.

August 1, 2024 Allen Pusey

CDT Roundup: 19 Deals, 21 Firms, 271 Lawyers, $16.4B

The rise of the U.S. global LNG export sector is a remarkable one: from essentially zero in 2015 to a position of global leadership in less than a decade. The Texas-Louisiana-Mississippi Gulf Coast has transformed into an epicenter for super-chilled natural gas bound for Europe and Asia. The CDT Roundup this week takes a closer look at a couple of news items that suggest the short-term future could be a bit bumpier than expected. And, as always, there were deals reported last week. We have the firms and the lawyers behind them.

July 30, 2024 Claire Poole & Allen Pusey

Vital, NOG buy assets owned by Vortus-backed Point for $1.1B

Gibson Dunn advised Vital on the deal while Akin assisted Point and Vortus. Kirkland counseled NOG, its second joint acquisition with Vital in the Delaware Basin.

July 29, 2024 Claire Poole

Casey’s to Acquire CEFCO Convenience Stores in $1.45B Deal

The all-cash transaction adds 148 stores in Texas and another 50 across Mississippi, Florida and Alabama. Paul Weiss, Cleary Gottlieb and Fort Worth's Bourland, Wall & Wenzel advised.

July 27, 2024 Allen Pusey

Simpson Thacher’s Houston Office Advised on KKR/T-Mobile Metronet Deal

Corporate partners Breen Haire and Shamus Crosby advised on the creation of a joint venture with T-Mobile to secure Metronet, along with its two million broadband customers across 17 states.

July 26, 2024 Allen Pusey

Helmerich & Payne Buys KCA Deutag for $1.97B

A mostly Houston team from Kirkland & Ellis advised Tulsa-based buyer and A&O Shearman assisted the Scottish target, which would establish H&P as a global leader in onshore drilling.

July 25, 2024 Claire Poole & Allen Pusey