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The Texas Lawbook

Free Speech, Due Process and Trial by Jury

  • Appellate
  • Bankruptcy
  • Commercial Litigation
  • Corp. Deal Tracker/M&A
  • GCs/Corp. Legal Depts.
  • Firm Management
  • White-Collar/Regulatory
  • Pro Bono/Public Service/D&I

CDT Roundup: 12 Deals, 63 Lawyers, 9 Firms, $763M

August 31, 2021 Anna Butler

2021 might go down as the year that non-traditional investors sealed their position alongside more traditional ones.

Rife with dry powder and vaccination-induced optimism, the first half of the year saw non-traditional and crossover players put debt and equity commitments and different brands of creative financing to work within early- and late-stage startups in addition to seed and anchor funding.

Certain industries were more popular than others among the non-traditional set – think funds of funds, institutional investors, endowments and family offices, among others. 

Those popular industries and spaces are best summarized by what have been among the more successful targets of combinations for special purpose acquisition companies: sustainability-driven transportation solutions, such as electric vehicles and related components; renewable and alternative energy sources, including battery storage; business-to-business software; biotechnology; and financial technology.

According to PitchBook, the second quarter of 2021 saw VC valuations experience record high valuations surging to $130 million median and $914 million average pre-money for firms. PitchBook pointed to non-traditional and crossover players as part of that rise. It’s all tied to capital availability and a willingness for traditionally conservative investors to take on more risk to deploy resources in a more favorable and rosy environment. 

The bullishness of the first half of the year could slow down, if only slightly, as investors gauge the impact of the Delta Variant, according to legal and private equity sources polled over the past few weeks. But that very much depends on the area of investment, the type of investment and how insulated the space is from potential fallout tied to public markets.

Growth equity and investments from large and small players were popular in this week’s roundup. Of the week’s 11 M&A or funding transactions, four were tied to investments and another was a joint venture that brought with it a $150 million commitment. Funds managed by Apollo Global Management and Blackstone Tactical Opportunities were joined by a Houston private equity firm and a Houston family office as some of the week’s players.

There was one reported capital markets transaction last week. The 12 transactions tallied to more than $763 million in reported deal value featuring 63 Texas-based lawyers from nine firms.

Weekly Corporate Deal Tracker Roundup Stats

A compilation of weekly stats from The Lawbook's CDT Weekly Roundup
(Deal Values in Millions)

Week Ending
Deal CountAmountFirmsLawyersM&A CountM&A Value $MCapM Count
CapM Value $M
10-May-202524$33,1751620619$30,7655$2,410
03-May-202511$4,249139011$2,226.52$2,022.5
26-Apr-202512$8,78791689$6,0113$2,776
19-Apr-202511$8,09771389$7,9852$112
12-Apr-202513$2,392815210$2,0653$327
05-Apr-202519$27,7621518816$25,4733$2,289
29-Mar-202521$8,1881025816$4,1255$4,064
22-Mar-202519$6,4851423115$4,1284$2,857
15-Mar-202513$13,7371315110$9,9324$3,805
8-Mar-20257$2,2345665$2242$2,100
1-Mar-202511$3,05087510$2,5501$500
24-Feb-2512$16,39771496$6,6356$9,862
17-Feb-2517$12,1361313410$9,4112$2,725
10-Feb-2514$7,15491799$4,9505$2,204
3-Feb-2516 $10,068720011$7,5535$2,515
25-Jan-2514$10,261101259$2,2075$8,054
18-Jan-2519$7,3821531612$2,3007$5,082
11-Jan-2521$33,5601618716$32,5215$1,039
4-Jan-259$6,8279809$6,82700
21-Dec-2411$2,79811928$2,2293$570
14-Dec-2415$5,3231218612$3,8123$1,511
07-Dec-2416$4,7661023111$2,32152,445
30-Nov-2410$10,29191034$8,2906$2.001
23-Nov-2415$4,5531515311$3,3794$1,174
16-Nov-2417$11,4881124513$10,1864$1,303
09-Nov-2414$2,1101213912$1,4102$700
02-Nov-2412 $52,788 1110711$52,7381$50
26-Oct-248$3,1608657$3,0651$75
19-Oct-2412$5,3041113611$4,5541$750
12-Oct-2417$8,4381215015$8,1162$322
05-Oct-2422$23,1811218915$19,9807$3,201
28-Sep-2411$2,35671447$534$2,303
21-Sep-2412$9,568101695$4,1017$5,467
14-Sep-2424$10,9881223516$7,1758$3,813
7-Sep-2412$20,4201616811$20,3071$112.9
31-Aug-2413$20,631913412$14,7751$5,856
24-Aug-2419$8,4522132516$7,1023$1,350
17-Aug-2425$49,1961630411$39,38614$9,810
10-Aug-2420$12,2641531216$9,7944$2,470
03-Aug-2426$16,4981633418$8,1378$8,361
27-Jul-2419$16,4422127115$13,8384$2,604
20-Jul-2415$16,0161418410$14,2325$1,784
13-Jul-2420$17,220 1426518$7,146 2$10,074
6-Jul-2411$3,941 11958$2,650 3$1,291
29-Jun-2414$6,296 152248$6,296 6$1,927
22-Jun-2412$5,679 81375$210 7$5,469
15-Jun-2413$9,895 1621410$5,280 3$4,615
8-Jun-2419$23,859 1323912$19,436 7$4,423
1-Jun-2412$34,510 111479$26,110 3$8,400
25-May-2413$9,684 1517110$4,434 3$5,250
18-May-2411$5,490 111738$3,129 3$2,361
11-May-2422$14,855 1422716$11,105 6$3,750
4-May-2413$3,139 98710$1,297 3$1,842
27-Apr-2410$6,684 62810$6,684 00
20-Apr-2419$15,989 111479$5,208 10$10,781
13-Apr-2413$8,952 97610$1,652 3$7,300
6-Apr-2423$26,616 1422214$13,501 8$13,116
30-Mar-2412$9,286 81368$4,299 4$4,987
23-Mar-2418$5,451 1726616$4,759 2$692
16-Mar-2421$11,437 1318614$9,316 6$2,070
9-Mar-2423$4,695 2121819$2,723 4$1,972
2-Mar-2420$9,108 1937214$4,558 6$4,550
24-Feb-2419$16,382 1224815$9,507 4$6,875
17-Feb-2416$29,932 1515712$29,216 4$716
10-Feb-2425$10,750 1719619$5,372 6$5,379
3-Feb-2412$8,416 181259$3,416 3$5,000
27-Jan-249$8,165 9878$7,815 1$800
20-Jan-2414$4,084 1210912$3,219 2$865
13-Jan-2417$33,588 1225612$26,765 5$6,823
6-Jan-248$7,915 8846$7,265 2$650
30-Dec-2317$14,599 129915$2,714 2$11,885
23-Dec-2323$4,182 1321916$1,813 7$2,370
16-Dec-2313$16,436 132807$15,150 5$1,286
9-Dec-2326$14,633.90 1724416$8,095 10$6,538.90
2-Dec-2313$6,720 95712$6,630 1$90
25-Nov-239$4,835 91316$1,785 3$3,050
18-Nov-2322$6,568.70 1718414$4,709.20 8$1,859.50
11-Nov-2315$9,825 1317912$6,581 3$3,244
4-Nov-2315$20,582.50 1419312$19,417.50 3$1,165
28-Oct-2318$68,419.10 1815215$66,646 3$1,773.10
21-Oct-2316$6,755.90 1616515$6,755.90 1$3
14-Oct-2314$67,851.20 131259$61,998.50 5$5,852.70
7-Oct-2317$6,595.50 1322816$5,995.50 1$600
30-Sep-2317$1,896.45 1318914$806.45 3$1,090
23-Sep-2323$6,432.70 1723016$1,402.80 7$5,029.90
16-Sep-2325$23,226.70 2335316$17,239 9$5,987.70
9-Sep-2312$6,369 81027$4,311 5$2,058
2-Sep-2314$2,522 69213$1,322 1$1,200
26-Aug-2317$12,160.25 1320215$6,573.25 2$5,587.00
19-Aug-2319$11,505 1321315$11,255 4$250
12-Aug-2319$9,698.80 131847$3,270 12$6,428.80
5-Aug-2313$5,201 1211812$5,051 1$150
29-Jul-2315$21,031.60 1319611$18,292.00 4$2,739.60
22-Jul-2318$3,992 1213013$2,808 5$1,184
15-Jul-2313$8,254.95 138113$8,254.95 00
8-Jul-2316$5,441.45 1217211$2,443 5$2,998.45
1-Jul-2316$6,872 1010512$5,474 4$1,398
24-Jun-2313$10,914 1620110$7,874 3$3,040
17-Jun-2317$5,880.70 1515115$4,705.70 2$1,175
10-Jun-2319$8,516.10 1311116$6,252.40 3$2,263.70
June 3 202312$6,104.42 121388$4,256.92 4$1,847.50
27-May-2317$12,200 106711$6,165 6$6,035
20-May-2311$22,458.10 81034$19,455 7$3,003
13-May-2312$7,034 101018$5,460 4$1,574
6-May-2320$3,297.60 1819617$2,985.60 3$312
29-Apr-2323$3,691.20 1813517$1,969.70 6$1,721.50
22-Apr-2316$5,570 1410414$4,750 2$1,000
15-Apr-2312$23,818.10 95910$21,618.10 2$2,200
8-Apr-2316$7,949 91739$5,472 7$3,477
1-Apr-2321$18,676.70 1217511$10,926.70 10$7,750
25-Mar-2315$8,779.50 101415$2,362 10$6,416.50
18-Mar-237$14,048.80 6695$13,345 2$703.80
11-Mar-2321$11,576 1616516$8,131 5$3,445
4-Mar-2320$9,668 1122816$8,209 4$1,459
25-Feb-2313$5,335 1313012$4,235 1$1,200
18-Feb-2314$5,743.70 131588$898.70 6$4,845
11-Feb-2316$12,088 1213712$9,965 4$2,123
4-Feb-2317$8,066 1514013$5,614 4$2,452
28-Jan-237$2,180 7755$1,692.75 2$488
21-Jan-2317$5,768 1617412$1,918 5$3,850
14-Jan-2311$2, 800101028$421 3$2,400
7-Jan-2318$8,296 1116714$6,461 3$1,835
31-Dec-2214$2,732 119912$2,092 2$640
17-Dec14$7,919 1311512$7,419 1$500
10-Dec-2214$10,093 128811$7,093 3$3,000
3-Dec-2226$12,800.90 1117220$4,141 6$8,659.90
26-Nov-228$2,266.70 853$76 5$2,190.70
19-Nov-2221$2,886 1521219$2,550 2$336
12-Nov-2213$15,093.70 9819$14,200 4$893.70
5-Nov-222519,337.201650922$8,267.20 3$11,070
29-Oct-2215$7,805.30 911614$7,180.30 1$625
22-Oct-2220$8,193.50 1325313$5,442 7$2,751.50
15-Oct-229$3,046.10 91397$2,588.30 2$457.80
8-Oct-2219$2,011.80 1211416$833.80 3$1,178
1-Oct-2223$5,532.90 1615618$4,952.30 5$580.60
24-Sep-2218$5,194 1421615$4,050 3$1,144
17-Sep-2221$8,352.30 1232015$4,759.60 6$3,592.70
10-Sep-2215$19,853.50 1012613$19,403.60 2$450
3-Sep-229$2,312 9629$2,312 00
27-Aug-2216$30,891.70 1013515$30,666.40 1227.7
20-Aug-2212$1,977 815299253$1,052
13-Aug-2218$8,004.70 1124211$2,844.70 7$5,160
6-Aug-2224$7,948.90 1224017$3,577 7$4,371.90
30-Jul-228$6,941 9787$6,839 1$102
23-Jul-2211$801 119210$801 10
16-Jul-2214$3,650 1012214$3,650 00
9-Jul-2210$3,557.70 7689$3,557.70 10
2-Jul-2218$8,609.40 1315215$2,754.40 3$5,855
25-Jun-2215$6,142 131469$2,017 6$4,125
18-Jun-2217$11,890.10 1422815$11,410 2479.7
11-Jun-2217$7,600 1212310$2,300 7$5,300
4-Jun-2212$2,937 101279$692 3$2,245
28-May-229$3,197.60 11869$3,197.60 00
21-May-2214$7,284.50 1218511$6,609 3$675.50
14-May-2211$306.60 98010$306.60 1$225
7-May-2216$10,451.75 1210812$1,827 4$8,624.75
30-Apr-2216$2,296.50 1615712$895.50 4$1,401
23-Apr-2210$2,241 11588$1,641 2$600
16-Apr-2211$6,643 71568$2,359 3$4,284
9-Apr-2217$4,429 1418411$1,690 6$2,739
2-Apr-2213$1,755 88410$1,145 3$610
26-Mar-2211$3,205 8656$200 5$3,005
19-Mar-2213$2,239.17 910613$2,239.17 00
12-Mar-2218$12,016 1123915$11,965 2$51.35
5-Mar-2217$6,786 1313713$5,161 4$1,625
26-Feb-2212$5,095 81499$4,437.50 3$658
19-Feb-2217$22,229 1717414$21,354 3$875
12-Feb-2212$2,344.70 10738$641.70 4$1,703
5-Feb-2211$2,503 89911$2,503 00
29-Jan-2211$3,872 1210112$3,872 00
22-Jan-2213$5,143.50 109912$4,842.50 1$301
15-Jan-2212$7,605 91559$6,480 3$1,025
8-Jan-2213$8,256.20 1110213$8,256.20 00
1-Jan-229$1,273.80 6509$1,273.80 00
25-Dec-2121$4,734.75 1117616$3,410 5$1,324.75
18-Dec-2126$7,325.20 1519318$3,640.20 8$3,685.20
11-Dec-2116$5,017 1010913$1,417 3$3,600
4-Dec-2114$2,310 8868$2,310 6$1,882.05
27-Nov-219$3.460.1101016$1,758 3$1,702.60
20-Nov-2120$22,792 1515712$18,864.50 8$3,928
13-Nov-2121$26,729 1217813$11,822 8$14,907
6-Nov-2112$8,303 1315710$6,682 3$1,621
30-Oct-2121$10,368 1521815$9,24.46$1,103.00
23-Oct-2121$18.783.11522211$12,314 10$6,468.60
16-Oct-2115$3,868 1111815$2,293 2$1,575
9-Oct-2120$8,610 1617516$7,795 4$815
2-Oct-2114$6,250 1113710$5,200 4$1,050
25-Sep-2111$11,460 9937$10,200 4$1,250
18-Sep-2111$16,603 8998$15,084 3$1,519
11-Sep-2117$10,653 1110313$8,503 4$2,150
4-Sep-2113$7,222 108911$6,715 2$507
28-Aug-2112$763 96311$663 1$100
21-Aug-2112$29,659 77911$29,579 1$80
14-Aug-2122$17,845 1119912$12,805 10$5,04
7-Aug-2117$13,670 1213915$11,766 2$1,904
31-Jul-2121$8,160 1113410$3,574 10$4,586
July 24,202121$6,367 1113915$3,712 6$2,655
17-Jul-2114$4,009 1112412$2,015 2$1,994
10-Jul-2116$3,997 1314311$1,597 4$2,4
3-Jul-2124$7,492 139416$3,769 8$3,722
26-Jun-2110$4,995 7858$3,847 2$1,148
19-Jun-2128$16,830 82289$1,861 19$14,968
12-Jun-2126$27,238 1520919$25,602 7$1,636
5-Jun-2115$15,539 1310013$14,709 2$600
29-May-2135$20,279 1114528$18,647$1,639
22-May-2124$53,208 1417417$51,047 7$2,161
15-May-2118$10,620 1322011$5,870 7$4,809
8-May-2117$10,400 1115615$8,386 2$2,500
1-May-2121$7,200 1611512$3,808 9$3,392
24-Apr-218$20,200 9318$20,200 00
17-Apr-2114$6,270 810211$40,180 3$2,260
10-Apr-2115$8,940 1312914$7,990 1$950
3-Apr-2118$19,513 1015112$16,923 6$2,590
27-Mar-2127$13,942 1524414$4,300 13$9,633.50
20-Mar-2111$2,046 41023$270 8$1,776
13-Mar-2115$3,270 91096$538 9$2,732
6-Mar-2124$13,617 1019613$10,395 11$3,222
27-Feb-2119$8,105 1213915$4,970 4$3,135
20-Feb-219$8,820 91538$8,520 1$300
13-Feb-2112$4,852.60 78172,7665$2,086.60
6-Feb-2118$9,752 1315314$5,222 4$4,530
30-Jan-2118$9,449 918215$8,753.80 3$695.30
23-Jan-2114$8,150 81186$4,000 8$4,150
16-Jan-2117$6,783 1313811$2,400 6$4,382.90
9-Jan-2122$6,829 1413518$3,139.30 4$3,690
2-Jan-217$1,466 7607$1,466 00
26-Dec-2018$15,900 1216316$5,300 1$600
19-Dec-2018$9,769 1411014$8,426 4$1,343
12-Dec-2010$7,200 91009$3,325 1$3,830
5-Dec-2015$4,261 91229$2,780 6$1,481
28-Nov-2019$7,758 1011013$4,003 6$3,755
14-Nov-2014$864.10 1415712$289.10 2$575
7-Nov-2013$6,332 91299$2,483.50 4$3,849
31-Oct-2010$3,995.80 81036$3,231.10 4$754.70
24-Oct-206$18,100 6585$17,709 1$350
17-Oct-208$351.90 5558$351.90 00
10-Oct-207$5,229 3504$735 3$4,494
3-Oct-2014$21,428 91739$17,535 5$3,893
26-Sep-2010$12,770 8935$10,300 5$2,470
19-Sep-2014$8,365 91016$1,020 8$7,345
12-Sep-206$4,406 8593$1,270 3$3,136
5-Sep-2011$5,191 81179$4,061 2$1,130
29-Aug-2011$2,531 9945$1,130 6$1,401
22-Aug-2018$6,574 121407$1,930 11$4,644
15-Aug-2013$4,991 10977$1,216 6$3,775
8-Aug-2012$32,092 111129$30,457 3$1,635
1-Aug-207$5,287 8765$3,687 2$1,600
25-Jul-209$18,751 6677$18,403 2$348
18-Jul-206$1,982.50 5504$1,407.50 2$575
11-Jul-2011$565.10 127510$65.10 1$500
4-Jul-2010$8,889 8989$8,788 1$100.30
27-Jun-208$6,874 10505$4,972.50 3$2,081.50
20-Jun-2012$4,444 91157$2,829 5$1,615
13-Jun-206$3,582 4372$350 4$3,232
6-Jun-2011$3,213.70 8657$470 4$2,743.70
30-May-208$7,335 7486$4,639 2$2,697
23-May-204$432.40 4343$432.40 10
16-May-206$310 6345$310 10
9-May-2018$5,630 1612414$3,180 4$2,450
2-May-201510,40010908$1,900 7$,8,500
25-Apr-208$3,400 9365$1,000 3$2,450
18-Apr-2019$9,500 14928$185.70 11$9,360
11-Apr-2012$6,000 9405$190 7$5,800
4-Apr-2014$8,200 116810$2,200 4$6,000
28-Mar-2016$6,500 139610$3,700 6$2,800
21-Mar-2011$11,910 7337$2,250 4$9,960
14-Mar-207809.86346684.81125
7-Mar-2016$2,500 157013$669 3$1,400
29-Feb-2013$15,260 1312811$11,760 2$3,500
22-Feb-2012$3,700 109210$2,560 2$1,130
15-Feb-2016$1,250 108412$35 4$1,222
8-Feb-2018$6,080 1412314$2,595 4$3,485
1-Feb-2021$20,900 1210114$17,860 7$3,060
25-Jan-2013$7,430 136212$6,430 1$1,000
18-Jan-2023$9,580 1512019$6,580 4$3,000
11-Jan-2021$14,200 1819916$1,020 5$13,200
4-Jan-2022$6,400 1111916$3,204 6$3,245
28-Dec-1922$7,150 1917518$6,800 4$327.40
14-Dec-1924$36,300 2316719$9,500 5$26,800
7-Dec-1911$10,400 11557$1,082 4$9,370
November 30. 201914$2,450 1212612$1,760 2$692.50
23-Nov-1916$1,995 104111$615 5$1,380
16-Nov-1915$3,820 1313511$2,500 4$1,271
9-Nov-1925$12,900 1718223$12,200 2$575
2-Nov-1910$2,470 126192,4503$22
26-Oct-1912$5,560 147011$3,860 1$1,700
19-Oct-198$6,600 81388$6,600 00
12-Oct-1919$4,300 145516$3,800 3$500
5-Oct-1918$14,500 1916615$11,100 3$3,400
28-Sep-1919$8,100 1813218$7,560 1$550
21-Sep-1914$6,300 166611$2,160 3$4,170
14-Sep-1915$23,800 125611$21,250 4$2,570
7-Sep-1917$3,500 159814$1,900 3$1,600
31-Aug-195$8,700 6505$8,700 00
24-Aug-1916$10,000 148215$4,250 1$5,750
16-Aug-1910$1,680 5527$650 3$950
9-Aug-1917$17,700 156814$3,900 3$13,800
2-Aug-1913$5,760 1210813$5,760 NANA
27-Jul-1911$7,300 13768$6,570 3$730
20-Jul-1913$11,800 1312511$5,300 2$6,500
13-Jul-1910$775 7468$542.50 2$233
6-Jul-197$2,500 9857$2,500 00
29-Jun-1923$8,290 1515417$2,300 6$5,970
22-Jun-1917$10,700 1013914$7,700 3$3,000
15-Jun-1911$13,500 1416011$13,500 NANA
8-Jun-1913$2,870 175511$1,570 2$1,300
1-Jun-1910$4,460 11608$4,140 2$315
25-May-1917$4,360 147914$3,700 3$612
18-May-1922$9,000 1715016$3,400 6$5,600
11-May-1918$19,800 1717715$18,300 3$1,500
4-May-1910$7,075 6328$6,900 2$175
27-Apr-1915$3,200 1411714$3,160 1$40
20-Apr-1913$13,500 10909$12,200 4$1,300
13-Apr-1916$38,900 149114$37,800 2$1,100
6-Apr-1912$6,870 119410$6,730 2$50
30-Mar-1915$6,470 128410$7,91.55$5,677
23-Mar-1918$6,450 149114$5,042 4$1,408
16-Mar-1914$10,180 1211511$8,800 3$1,300
9-Mar-199$1,800 6498$1,300 1$500
2-Mar-1920$3,033 1610714$1,817 6$1,262
23-Feb-1912$2,040 8699$614.60 3$1,430
16-Feb-1916$9,970 187716$9,970 00
9-Feb-1914$6,400 1011014$6,400 00
2-Feb-1918$6,740 159916$5,720 2$950
26-Jan-1913$2,770 116711$918.95 2$1,850
19-Jan-1915$3,819 167612$2,594 3$1,225
12-Jan-1918$7,283 149215$1,683 3$5,600
5-Jan-1910$529 125010$529 00
22-Dec-1817$2,570 138714$941 3$1,629
15-Dec-1810$2,860 8268$264 2$2,600
8-Dec-1815$1,819 166512$552 3$1,267
1-Dec-1812$7,500 10909$1,200 3$6,200
28-Nov-1815$4,500 1110714$4,000 1$500
19-Nov-1818$6,137 139813$2,142 5$3,995
14-Nov-1818$9,200 1315215$8,500 3$694
6-Nov-1816$17,300 1618314$16,361 2$950
29-Oct-1814$14,400 1812717$13,800 1$600
24-Oct-1813$6,140 1312611$5,122 2$1,018
17-Oct-1818$18,390 1512514$12,292 4$6,098
10-Oct-1829$3,149 1810420$1,647 9$819
2-Oct-1818$9,300 116714$7,300 4$2,000
25-Sep-1813$7,000 117510$6,000 3$995
18-Sep-189$3,570 7449$3,570 00
11-Sep-1813$5,900 1013213$5,900 00
7-Sep-1814$5,000 158611$4,000 3$1,000
29-Aug-1815$20,700 147913$4,700 2$16,000
20-Aug-1810$12,400 11538$11,380 3$1,057
14-Aug-1812$19,900 121329$18,889 3$1,011
7-Aug-1816$68,600 1110613$67,259 3$1,340
31-Jul-1815$15,100 159511$13,060 4$2,060
23-Jul-1813$2,130 156010$1,804 3$1,100
17-Jul-1814$5,370 17989$4,310 5$1,100
9-Jul-1816$11,200 157410$11,080 6$862
3-Jul-1813$7,000 78112$6,330 1$750
25-Jun-1815$8,800 13979$4,970 6$3,930
18-Jun-1813$14,200 14807$221 6$14,290
11-Jun-1812$6,300 8968$5,910 4$803
6-Jun-1813$14,500 10888$14,154 5$579
31-May-1811$4,890 10638$3,240 3$1,790
22-May-1815$20,400 11639$19,808 6$885
15-May-1815$4,700 1510610$3,900 5$643
9-May-1811$1,400 13889$1,300 2$560
1-May-188$14,250 7887$13,400 1$450
24-Apr-1812$5,300 66111$4,470 1$800
17-Apr-189$1,800 10447$2,330 2$1,434
11-Apr-1811$2,500 8326$1,690 5$809
3-Apr-1815$13,400 111219$12,020 6$1,090
28-Mar-1810$4,000 10927$3,870 3$215
19-Mar-1817$5,800 135110$590 7$5,165
12-Mar-1815$3,130 114311$2,360 4$788
6-Mar-1819$5,400 1311610$1,530 9$4,860
27-Feb-1820$6,600 136914$5,530 6$1,030
19-Feb-1815$5,500 1411110$3,990 6$1,980
12-Feb-1823$10,900 1715712$7,110 11$3,840
5-Feb-1816$8,600 131007$1,330 9$7,800
30-Jan-1811$12,600 11685$7,300 6$4,982
24-Jan-1819$9,400 151295$2,010 14$7,337
18-Jan-1810$6,280 8492$2,100 8$4,188
9-Jan-1812$16,500 12929$15,890 3$475
3-Jan-1810$2,500 9478$2,350 2$150
27-Dec-1715$9,000 151139$7,568 6$1,784
18-Dec-1715$13,800 161649$13,010 7$1,118
11-Dec-1714$9,700 1012612$2,940 4$8,500
4-Dec-176$1,800 6315$1,510 1$300
28-Nov-177$3,850 8764$3,260 3$285
16-Nov-1710$2,700 10486$1,840 4$856
8-Nov-1715$2,380 179110$1,860 5$516
1-Nov-1712$4,700 17949$3,400 4$1,300
23-Oct-1715$10,500 106710$9,780 4$1,530
18-Oct-176$2,000 373$225 3$1,820
10-Oct-1712$6,570 1009$3,880 3$3,360
2-Oct-178$3,100 11193$1,630 5$1,750
25-Sep-178$4,880 8795$2,660 5$2,070
18-Sep-179$4,770 3$300 6$4,470
12-Sep-1711$4,430 8$2,030 3$2,400
1-Sep-174$1,310 3$317 1$1,000
23-Aug-1711$13,640 98$11,840 3$1,800

Week-over-week, the reported deal value sank from $21.57 billion, along with the Texas-based lawyer count (78) for the 11 deals. Compared with the previous year, there were 18 deals accounting for more than $6.5 billion in deal value involving 140 Texas lawyers from 12 firms.


Note: Texas Lawbook corporate transactions editor Claire Poole contributed to this article.  

M&A/FUNDING

Landmark Infrastructure to Be Acquired by Parent

Landmark Infrastructure Partners will be acquired by its sponsor, Landmark Dividend, for the purchase price of $16.50 per share, the limited partnership announced on August 23.

Landmark Dividend, a developer and acquirer of real estate and infrastructure assets tied to the digital space, currently holds 100% of the general partner interests in Landmark Infrastructure and 13% of the limited partner interests. 

Landmark Infrastructure owns and manages a real estate portfolio that leases its digital and wireless assets to companies.   

Landmark Dividend, which manages more than 5,000 assets, selected both Latham & Watkins and Simpson Thacher & Bartlett on legal matters while TAP Securities and RBC Capital Markets were its financial advisors.

Latham partners Bill Finnegan and John Greer, both of Houston, led the firm’s efforts.

Gibson, Dunn & Crutcher served as legal advisor to the partnership’s conflicts committee of the board of directors led by Houston partners Hillary Holmes and Tull Florey along with Houston associates Stella Tang and Matthew Ross.

Other Texas-based counsel came from Houston partners Shalla Prichard and James Chenoweth and associate Collin Metcalf. 

Evercore worked as the exclusive financial advisor to the conflicts committee. 

Truist Securities acted as lead arranger and joint bookrunner with Citizens Bank, RBC Capital Markets and TD Securities serving as joint lead arranges and joint bookrunners for the debt financing. 

Sidley Austin advised Truist in the transaction with a team that included partners Robert Stephens, Herschel Hamner and Brian Minyard and associates Matt Walker and Andy Chen, all of Houston.

The transaction is expected to close in 2021.

Digital Colony, now called DigitalBridge, recently acquired Landmark Dividend in a transaction valued at about $972 million. Latham & Watkins’ Greer and Finnegan, along with Kevin Richardson of Houston and David Meckler of Orange County, led the firm’s team representing Landmark Dividend in that transaction. 

Noble Finance to Sell 4 Jackups

Subsidiaries of Sugar Land-based Noble Corp. entered into a definitive agreement by which a unit of ADES International Holding will purchase four jackups.

The jackups – Noble Roger Lewis, Noble Scott Marks, Noble Joe Knight and Noble Johnny Whitstine – are located in Saudi Arabia and will change hands for more than $292 million. The drilling contracts tied to the jackups are expected to shift to ADES.  

Baker Botts advised the offshore drilling contractor on legal matters while DNB Markets and Ducera Partners represented Noble as financial advisors. 

Baker Botts’ corporate team included Dallas partner David Emmons and Houston associates Josh Gonzales and Michael Mazidi. Houston partner Derek Green advised on tax matters.

Clarksons Platou served as broker.

William E. Turcotte is Noble’s senior vice president, general counsel and corporate secretary. Turcotte joined Noble in 2008 after gaining experience at Cornell Cos., Transocean Inc. and Schlumberger, among others.

The transaction is expected to close by the end of October. 

Apollo Affiliates to Back Firm Tied to Energy Storage

Funds managed by Apollo Global Management made an $150 million equity commitment to FlexGen Power Systems Inc., a services and software technology provider to the energy storage solutions space based in North Carolina. 

Apollo Funds selected Vinson & Elkins as legal advisor. 

The V&E corporate team was led by New York partner Dan Komarek, Dallas senior associate Abby Branigan and New York associates Kelly Reddington and Julie Bontems. 

Other Texas-based assistance came from Houston partners Jason McIntosh and Sean Becker; Houston and New York partner Devika Kornbacher; Dallas counsel Sarah Mitchell; and Dallas associates Olivia Sher and Matt Green. 

DLA Piper counseled FlexGen on legal matters while Citi served as its financial advisor (Sean Glennan, Arash Nazhad and Jason Miner from Citi).

Existing FlexGen investors – Denver venture capital firm Altira Group and the founding investment group led by Jerry Miller and Mark Dreyfus – are also ponying up alongside the Apollo funds. 

Andros Backs Midland County Drilling in New JV

Two Texas firms are teaming up for a new joint venture. 

Andros Capital Management, based in Houston, announced on August 25 that it has closed on an $150 million agreement with Midland-Petro D.C. Partners. 

Through the JV, an Andros affiliate, Andros Permian, will back drilling development in Midland County, Texas, within the Spraberry and Wolfcamp formations, alongside MPDC.

Willkie Farr & Gallagher represented the private investment firm on legal matters led by Houston partner Michael Piazza along with assistance from Houston associate Will Thanheiser.

MPDC opted for Vinson & Elkins as legal counsel, led by Houston partner John B. Connally IV, and Petrie Partners as financial advisor with a team that included Mike Bock, John Fossum and Austin Hughes.

Willkie previously represented Andros when the firm closed on a $250 million energy fund last year. Piazza also led those efforts alongside New York partner Phillip Isom.

Effector Therapeutics Hits Nasdaq After de-SPAC Combo

Effector Therapeutics hit the public markets last week after closing its business combination with special purpose acquisition company Locust Walk Acquisition Corp. 

The clinical stage biopharmaceutical company kicked off with $65.9 million in cash proceeds, including private investment in public equity funding.  

Effector, which develops selective translation regulator inhibitors for cancer treatment, selected Latham & Watkins as its legal counsel and Credit Suisse as its capital markets advisor.

San Diego partners Matt Bush and Cheston Larson, Houston partner Ryan Maierson and San Diego counsel Anthony Gostanian led the Latham team with additional assistance from San Diego associates Alaina Ellis and Shelby Harrison and Houston associate Ben Marek.

Cantor Fitzgerald worked as LWAC’s lead capital markets advisor along with JMP Securities and Mizuho Securities. 

Mintz, Levin, Cohn, Ferris, Glovsky and Popeo counseled LWAC on legal matters.

For the PIPE, Credit Suisse and Stifel served as lead placement agents with Locust Walk Securities also acting as a placement agent.

CBRE SPAC Target Makes Solar Portfolio Buy

Altus Power Inc., the intended target of Dallas-based CBRE Group’s SPAC, announced plans to acquire a 79-megawatt solar portfolio from private equity funds managed by True Green Capital Management.  

Altus Power will have about 340 megawatts of generation assets under management should the transaction close. The Greenwich, Connecticut-based company is looking to the portfolio acquisition to grow its electrification solutions offerings.

Financial terms of the transaction were not disclosed. 

Kirkland & Ellis advised True Green on legal matters tied to the transaction led by corporate partners Allan Kirk of Houston and Kristin Mendoza of New York with assistance from Houston associate Justin Thekkekara and Dallas associates Abbey Zuech and Bridget Hamway.

True Green selected KeyBanc Capital Markets to advise on financial matters.

OpenGate Portfolio Company Picks Up Dallas’ MultiCam

Kongsberg Precision Cutting Systems, a portfolio company of OpenGate Capital, acquired MultiCam Inc. 

Rosewood Private Investments purchased MultiCam, which is based in Dallas, back in 2014 and grew the manufacturer and distributor of computer numerical code cutting machines and digital finishing processes through complementary businesses before its recent exit.

Foley & Lardner advised MultiCam on the transaction. Financial terms were not disclosed.

Dallas partners Christopher Converse and Christopher Babcock led the Foley team. Additional Texas-based assistance came from Dallas partners Michael Donohue, Michael Dubner and Stephen Gilles and Dallas associate Richard Zaleskie.

The firm has a long history of advising Rosewood on exits and other dealings.

Blackstone Funds to Back Dallas-based Deca Dental

Funds managed by Blackstone Tactical Opportunities announced a strategic investment on August 26 into one of the fastest-growing – and largest – dental support organizations in the country.

Dallas-based Deca Dental Group, founded by Dr. Sulman Ahmed in 2008 and a portfolio company of Blue Sea Capital, has close to 100 dental practices in Texas, Florida and Washington. Blackstone’s investment is intended to help take the dental platform concept nationwide.

Financial terms of the investment were not disclosed.

Houlihan Lokey acted as Deca Dental’s financial advisor (Karan Garg and Mark Francis) while Locke Lord represented the company in legal matters.

Dallas partner Whit Roberts and Dallas associate Austin Elder led the Locke Lord efforts with additional Texas-based counsel from by partners Will Becker, Phil Bush and Kim Williams and associates Sally Cooper and Jennifer McCoy, all of Dallas.

Weil, Gotshal & Manges advised Blackstone on legal matters.

Cockrell Family Office Chips in on New ECP Energy Platform

Bolstered by an investment from Cockrell Interests, Houston-based Esperanza Capital Partners launched its first energy investment platform.

ECP plans to target energy and infrastructure assets in the Gulf of Mexico.  

Financial terms of the investment from the Cockrell family office were not disclosed.

Willkie Farr & Gallagher advised ECP on the transaction led by partner Michael Piazza and associate Will Thanheiser, both of Houston. 

Vinson & Elkins represented Cockrell in connection with the investment with a team involving partner Creighton Smith and associate Bobbi Ingram, both of Houston. 

WhiteWater Picks Up Sendero Pipeline

WhiteWater Midstream acquired Houston-based Sendero Midstream Partners’ Gateway Pipeline located in Carlsbad, New Mexico, the Austin infrastructure company announced on August 26.

The pipeline is connected to WhiteWater’s existing Agua Blanca pipeline system.

Financial terms of the transaction were not disclosed, although WhiteWater has a history of teaming up with private equity funds and direct investors on projects. 

In this case, WhiteWater’s Agua Blanca is backed by Houston investment firm First Infrastructure Capital Advisors.

Sidley Austin represented WhiteWater on the transaction. Partners Tim Chandler of Houston and Ken Irvin of Washington, D.C., led the Sidley team.

Additional Texas-based counsel came from Houston partner Zack Pullin and Houston associates Jeff Kinney and Maegan Quejada.

Nathan Murphy serves as senior vice president and general counsel at WhiteWater. Murphy joined the company from Arsenal Resources and also gained experience at Rosetta Resources, ConocoPhillips, Reliant Energy and Akin, Gump, Strauss, Hauer & Feld.

Hunting Invests in Austin-area Company

Energy services firm Hunting announced that it plans to invest $5 million in Cumberland Additive Holdings. 

The capital infusion would make Hunting a 27% holder in the metal additive manufacturer based in Plfugerville, Texas, outside of Austin.

Locke Lord advised London-based Hunting on the transaction led by partner Joe Perillo and associate Shannon Schroeder, both of Houston. 

Additional Texas-based counsel came out of Houston from partners Buddy Sanders and Jeff Wallace and senior counsel Freddy Feldman.

CAPITAL MARKETS

KNOT Unveils ATM Offering

KNOT Offshore Partners established an at-the-market program, entering into an agreement with B. Riley Securities Inc. to offer and sell up to $100 million of its common units.

The common units represent limited partner interests in KNOT, a UK-based operator and acquirer of vessels. 

Baker Botts represented the partnership with a corporate team led by Washington, D.C. partner Catherine Gallagher. Houston partner Jon Lobb and Dallas associate Snow Xue Rui advised on tax matters.

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