CDT Roundup: 22 Deals, 14 Firms, 227 Lawyers, $14.9B

In the largest deal of the week, Global Infrastructure Partners (GIP) and Canada Pension Plan Investment Board (CPPIB) agreed to acquire all of the outstanding shares of common stock of energy company Allete for $6.2 billion, including debt assumption.

What makes this transaction unique? In an industry still dominated mostly by men, the lawyers who led the deal were all women.

Kirkland & Ellis counseled GIP and CPPIB, including corporate partners Melissa Kalka and Emily Lichtenheld. Kirkland partner Mary Kogut took the lead on finance and partner Brooksany Barrowes led on regulatory matters.

Julie Ashworth, partner and general counsel at GIP in New York, and Maxine Ethier, a managing director in the legal department of CPPIB in Toronto, led the deal in-house on the buy-side. Allete’s CEO (Bethany Owen) and chief legal officer (Maggie Thickens) are both female and Skadden partner Emily Prezioso Walsh in Washington, D.C., played a leading role advising Allete.

Kirkland’s Kalka, who is based in Dallas and was formerly an associate at Winston & Strawn and Jones Day, also co-led the M&A team counseling GIP on its acquisition by BlackRock Inc. this past January in a $12 billion transaction.

That’s not all. She advised Dave & Buster’s Entertainment Inc. on its purchase of Main Event from Australia’s Ardent Leisure Group Ltd. and RedBird Capital Partners for $835 million; KKR and the acquiring consortium (including GIP) on the $15 billion take-private of CyrusOne and later CyrusOne’s $7 billion partnership with KEPCO; and Vista-backed Solera Holdings in the acquisition of Spireon from Greenbriar Equity Group for undisclosed terms.

Austin-based Emily Lichtenheld is no deal slouch, either, advising Six Flags Entertainment Corp. on its $8 billion merger with Cedar Fair, chemical company Celanese Corp. on acquiring DuPont’s mobility and materials unit for $11 billion and private equity-backed Colgate Energy Partners III on its sale to publicly traded Centennial Resource Development Inc. for $3.9 billion. She was previously an associate at Sullivan & Cromwell in New York and made partner at Kirkland in 2021.

Energy was back in a big way. So was M&A. The week ending May 11 saw 22 deals valued at $14.9 billion, including 16 M&A/Funding transactions valued at $11.1 billion. Compare that with the week prior, which saw 13 deals for $3.1 billion and the 12 deals for $7 billion at the same time last year.

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 Count	Amount	Firms	Lawyers	M&A Count	M&A Value $M	CapM Count	CapM Value $M
03-May-2025	11	$4,249	13	90	11	$2,226.5	2	$2,022.5
26-Apr-2025	12	$8,787	9	168	9	$6,011	3	$2,776
19-Apr-2025	11	$8,097	7	138	9	$7,985	2	$112
12-Apr-2025	13	$2,392	8	152	10	$2,065	3	$327
05-Apr-2025	19	$27,762	15	188	16	$25,473	3	$2,289
29-Mar-2025	21	$8,188	10	258	16	$4,125	5	$4,064
22-Mar-2025	19	$6,485	14	231	15	$4,128	4	$2,857
15-Mar-2025	13	$13,737	13	151	10	$9,932	4	$3,805
8-Mar-2025	7	$2,234	5	66	5	$224	2	$2,100
1-Mar-2025	11	$3,050	8	75	10	$2,550	1	$500
24-Feb-25	12	$16,397	7	149	6	$6,635	6	$9,862
17-Feb-25	17	$12,136	13	134	10	$9,411	2	$2,725
10-Feb-25	14	$7,154	9	179	9	$4,950	5	$2,204
3-Feb-25	16	$10,068	7	200	11	$7,553	5	$2,515
25-Jan-25	14	$10,261	10	125	9	$2,207	5	$8,054
18-Jan-25	19	$7,382	15	316	12	$2,300	7	$5,082
11-Jan-25	21	$33,560	16	187	16	$32,521	5	$1,039
4-Jan-25	9	$6,827	9	80	9	$6,827	0	0
21-Dec-24	11	$2,798	11	92	8	$2,229	3	$570
14-Dec-24	15	$5,323	12	186	12	$3,812	3	$1,511
07-Dec-24	16	$4,766	10	231	11	$2,321	5	2,445
30-Nov-24	10	$10,291	9	103	4	$8,290	6	$2.001
23-Nov-24	15	$4,553	15	153	11	$3,379	4	$1,174
16-Nov-24	17	$11,488	11	245	13	$10,186	4	$1,303
09-Nov-24	14	$2,110	12	139	12	$1,410	2	$700
02-Nov-24	12	$52,788	11	107	11	$52,738	1	$50
26-Oct-24	8	$3,160	8	65	7	$3,065	1	$75
19-Oct-24	12	$5,304	11	136	11	$4,554	1	$750
12-Oct-24	17	$8,438	12	150	15	$8,116	2	$322
05-Oct-24	22	$23,181	12	189	15	$19,980	7	$3,201
28-Sep-24	11	$2,356	7	144	7	$53	4	$2,303
21-Sep-24	12	$9,568	10	169	5	$4,101	7	$5,467
14-Sep-24	24	$10,988	12	235	16	$7,175	8	$3,813
7-Sep-24	12	$20,420	16	168	11	$20,307	1	$112.9
31-Aug-24	13	$20,631	9	134	12	$14,775	1	$5,856
24-Aug-24	19	$8,452	21	325	16	$7,102	3	$1,350
17-Aug-24	25	$49,196	16	304	11	$39,386	14	$9,810
10-Aug-24	20	$12,264	15	312	16	$9,794	4	$2,470
03-Aug-24	26	$16,498	16	334	18	$8,137	8	$8,361
27-Jul-24	19	$16,442	21	271	15	$13,838	4	$2,604
20-Jul-24	15	$16,016	14	184	10	$14,232	5	$1,784
13-Jul-24	20	$17,220	14	265	18	$7,146	2	$10,074
6-Jul-24	11	$3,941	11	95	8	$2,650	3	$1,291
29-Jun-24	14	$6,296	15	224	8	$6,296	6	$1,927
22-Jun-24	12	$5,679	8	137	5	$210	7	$5,469
15-Jun-24	13	$9,895	16	214	10	$5,280	3	$4,615
8-Jun-24	19	$23,859	13	239	12	$19,436	7	$4,423
1-Jun-24	12	$34,510	11	147	9	$26,110	3	$8,400
25-May-24	13	$9,684	15	171	10	$4,434	3	$5,250
18-May-24	11	$5,490	11	173	8	$3,129	3	$2,361
11-May-24	22	$14,855	14	227	16	$11,105	6	$3,750
4-May-24	13	$3,139	9	87	10	$1,297	3	$1,842
27-Apr-24	10	$6,684	6	28	10	$6,684	0	0
20-Apr-24	19	$15,989	11	147	9	$5,208	10	$10,781
13-Apr-24	13	$8,952	9	76	10	$1,652	3	$7,300
6-Apr-24	23	$26,616	14	222	14	$13,501	8	$13,116
30-Mar-24	12	$9,286	8	136	8	$4,299	4	$4,987
23-Mar-24	18	$5,451	17	266	16	$4,759	2	$692
16-Mar-24	21	$11,437	13	186	14	$9,316	6	$2,070
9-Mar-24	23	$4,695	21	218	19	$2,723	4	$1,972
2-Mar-24	20	$9,108	19	372	14	$4,558	6	$4,550
24-Feb-24	19	$16,382	12	248	15	$9,507	4	$6,875
17-Feb-24	16	$29,932	15	157	12	$29,216	4	$716
10-Feb-24	25	$10,750	17	196	19	$5,372	6	$5,379
3-Feb-24	12	$8,416	18	125	9	$3,416	3	$5,000
27-Jan-24	9	$8,165	9	87	8	$7,815	1	$800
20-Jan-24	14	$4,084	12	109	12	$3,219	2	$865
13-Jan-24	17	$33,588	12	256	12	$26,765	5	$6,823
6-Jan-24	8	$7,915	8	84	6	$7,265	2	$650
30-Dec-23	17	$14,599	12	99	15	$2,714	2	$11,885
23-Dec-23	23	$4,182	13	219	16	$1,813	7	$2,370
16-Dec-23	13	$16,436	13	280	7	$15,150	5	$1,286
9-Dec-23	26	$14,633.90	17	244	16	$8,095	10	$6,538.90
2-Dec-23	13	$6,720	9	57	12	$6,630	1	$90
25-Nov-23	9	$4,835	9	131	6	$1,785	3	$3,050
18-Nov-23	22	$6,568.70	17	184	14	$4,709.20	8	$1,859.50
11-Nov-23	15	$9,825	13	179	12	$6,581	3	$3,244
4-Nov-23	15	$20,582.50	14	193	12	$19,417.50	3	$1,165
28-Oct-23	18	$68,419.10	18	152	15	$66,646	3	$1,773.10
21-Oct-23	16	$6,755.90	16	165	15	$6,755.90	1	$3
14-Oct-23	14	$67,851.20	13	125	9	$61,998.50	5	$5,852.70
7-Oct-23	17	$6,595.50	13	228	16	$5,995.50	1	$600
30-Sep-23	17	$1,896.45	13	189	14	$806.45	3	$1,090
23-Sep-23	23	$6,432.70	17	230	16	$1,402.80	7	$5,029.90
16-Sep-23	25	$23,226.70	23	353	16	$17,239	9	$5,987.70
9-Sep-23	12	$6,369	8	102	7	$4,311	5	$2,058
2-Sep-23	14	$2,522	6	92	13	$1,322	1	$1,200
26-Aug-23	17	$12,160.25	13	202	15	$6,573.25	2	$5,587.00
19-Aug-23	19	$11,505	13	213	15	$11,255	4	$250
12-Aug-23	19	$9,698.80	13	184	7	$3,270	12	$6,428.80
5-Aug-23	13	$5,201	12	118	12	$5,051	1	$150
29-Jul-23	15	$21,031.60	13	196	11	$18,292.00	4	$2,739.60
22-Jul-23	18	$3,992	12	130	13	$2,808	5	$1,184
15-Jul-23	13	$8,254.95	13	81	13	$8,254.95	0	0
8-Jul-23	16	$5,441.45	12	172	11	$2,443	5	$2,998.45
1-Jul-23	16	$6,872	10	105	12	$5,474	4	$1,398
24-Jun-23	13	$10,914	16	201	10	$7,874	3	$3,040
17-Jun-23	17	$5,880.70	15	151	15	$4,705.70	2	$1,175
10-Jun-23	19	$8,516.10	13	111	16	$6,252.40	3	$2,263.70
June 3 2023	12	$6,104.42	12	138	8	$4,256.92	4	$1,847.50
27-May-23	17	$12,200	10	67	11	$6,165	6	$6,035
20-May-23	11	$22,458.10	8	103	4	$19,455	7	$3,003
13-May-23	12	$7,034	10	101	8	$5,460	4	$1,574
6-May-23	20	$3,297.60	18	196	17	$2,985.60	3	$312
29-Apr-23	23	$3,691.20	18	135	17	$1,969.70	6	$1,721.50
22-Apr-23	16	$5,570	14	104	14	$4,750	2	$1,000
15-Apr-23	12	$23,818.10	9	59	10	$21,618.10	2	$2,200
8-Apr-23	16	$7,949	9	173	9	$5,472	7	$3,477
1-Apr-23	21	$18,676.70	12	175	11	$10,926.70	10	$7,750
25-Mar-23	15	$8,779.50	10	141	5	$2,362	10	$6,416.50
18-Mar-23	7	$14,048.80	6	69	5	$13,345	2	$703.80
11-Mar-23	21	$11,576	16	165	16	$8,131	5	$3,445
4-Mar-23	20	$9,668	11	228	16	$8,209	4	$1,459
25-Feb-23	13	$5,335	13	130	12	$4,235	1	$1,200
18-Feb-23	14	$5,743.70	13	158	8	$898.70	6	$4,845
11-Feb-23	16	$12,088	12	137	12	$9,965	4	$2,123
4-Feb-23	17	$8,066	15	140	13	$5,614	4	$2,452
28-Jan-23	7	$2,180	7	75	5	$1,692.75	2	$488
21-Jan-23	17	$5,768	16	174	12	$1,918	5	$3,850
14-Jan-23	11	$2, 800	10	102	8	$421	3	$2,400
7-Jan-23	18	$8,296	11	167	14	$6,461	3	$1,835
31-Dec-22	14	$2,732	11	99	12	$2,092	2	$640
17-Dec	14	$7,919	13	115	12	$7,419	1	$500
10-Dec-22	14	$10,093	12	88	11	$7,093	3	$3,000
3-Dec-22	26	$12,800.90	11	172	20	$4,141	6	$8,659.90
26-Nov-22	8	$2,266.70	8	5	3	$76	5	$2,190.70
19-Nov-22	21	$2,886	15	212	19	$2,550	2	$336
12-Nov-22	13	$15,093.70	9	81	9	$14,200	4	$893.70
5-Nov-22	25	19,337.20	16	509	22	$8,267.20	3	$11,070
29-Oct-22	15	$7,805.30	9	116	14	$7,180.30	1	$625
22-Oct-22	20	$8,193.50	13	253	13	$5,442	7	$2,751.50
15-Oct-22	9	$3,046.10	9	139	7	$2,588.30	2	$457.80
8-Oct-22	19	$2,011.80	12	114	16	$833.80	3	$1,178
1-Oct-22	23	$5,532.90	16	156	18	$4,952.30	5	$580.60
24-Sep-22	18	$5,194	14	216	15	$4,050	3	$1,144
17-Sep-22	21	$8,352.30	12	320	15	$4,759.60	6	$3,592.70
10-Sep-22	15	$19,853.50	10	126	13	$19,403.60	2	$450
3-Sep-22	9	$2,312	9	62	9	$2,312	0	0
27-Aug-22	16	$30,891.70	10	135	15	$30,666.40	1	227.7
20-Aug-22	12	$1,977	8	152	9	925	3	$1,052
13-Aug-22	18	$8,004.70	11	242	11	$2,844.70	7	$5,160
6-Aug-22	24	$7,948.90	12	240	17	$3,577	7	$4,371.90
30-Jul-22	8	$6,941	9	78	7	$6,839	1	$102
23-Jul-22	11	$801	11	92	10	$801	1	0
16-Jul-22	14	$3,650	10	122	14	$3,650	0	0
9-Jul-22	10	$3,557.70	7	68	9	$3,557.70	1	0
2-Jul-22	18	$8,609.40	13	152	15	$2,754.40	3	$5,855
25-Jun-22	15	$6,142	13	146	9	$2,017	6	$4,125
18-Jun-22	17	$11,890.10	14	228	15	$11,410	2	479.7
11-Jun-22	17	$7,600	12	123	10	$2,300	7	$5,300
4-Jun-22	12	$2,937	10	127	9	$692	3	$2,245
28-May-22	9	$3,197.60	11	86	9	$3,197.60	0	0
21-May-22	14	$7,284.50	12	185	11	$6,609	3	$675.50
14-May-22	11	$306.60	9	80	10	$306.60	1	$225
7-May-22	16	$10,451.75	12	108	12	$1,827	4	$8,624.75
30-Apr-22	16	$2,296.50	16	157	12	$895.50	4	$1,401
23-Apr-22	10	$2,241	11	58	8	$1,641	2	$600
16-Apr-22	11	$6,643	7	156	8	$2,359	3	$4,284
9-Apr-22	17	$4,429	14	184	11	$1,690	6	$2,739
2-Apr-22	13	$1,755	8	84	10	$1,145	3	$610
26-Mar-22	11	$3,205	8	65	6	$200	5	$3,005
19-Mar-22	13	$2,239.17	9	106	13	$2,239.17	0	0
12-Mar-22	18	$12,016	11	239	15	$11,965	2	$51.35
5-Mar-22	17	$6,786	13	137	13	$5,161	4	$1,625
26-Feb-22	12	$5,095	8	149	9	$4,437.50	3	$658
19-Feb-22	17	$22,229	17	174	14	$21,354	3	$875
12-Feb-22	12	$2,344.70	10	73	8	$641.70	4	$1,703
5-Feb-22	11	$2,503	8	99	11	$2,503	0	0
29-Jan-22	11	$3,872	12	101	12	$3,872	0	0
22-Jan-22	13	$5,143.50	10	99	12	$4,842.50	1	$301
15-Jan-22	12	$7,605	9	155	9	$6,480	3	$1,025
8-Jan-22	13	$8,256.20	11	102	13	$8,256.20	0	0
1-Jan-22	9	$1,273.80	6	50	9	$1,273.80	0	0
25-Dec-21	21	$4,734.75	11	176	16	$3,410	5	$1,324.75
18-Dec-21	26	$7,325.20	15	193	18	$3,640.20	8	$3,685.20
11-Dec-21	16	$5,017	10	109	13	$1,417	3	$3,600
4-Dec-21	14	$2,310	8	86	8	$2,310	6	$1,882.05
27-Nov-21	9	$3.460.1	10	101	6	$1,758	3	$1,702.60
20-Nov-21	20	$22,792	15	157	12	$18,864.50	8	$3,928
13-Nov-21	21	$26,729	12	178	13	$11,822	8	$14,907
6-Nov-21	12	$8,303	13	157	10	$6,682	3	$1,621
30-Oct-21	21	$10,368	15	218	15	$9,24.4	6	$1,103.00
23-Oct-21	21	$18.783.1	15	222	11	$12,314	10	$6,468.60
16-Oct-21	15	$3,868	11	118	15	$2,293	2	$1,575
9-Oct-21	20	$8,610	16	175	16	$7,795	4	$815
2-Oct-21	14	$6,250	11	137	10	$5,200	4	$1,050
25-Sep-21	11	$11,460	9	93	7	$10,200	4	$1,250
18-Sep-21	11	$16,603	8	99	8	$15,084	3	$1,519
11-Sep-21	17	$10,653	11	103	13	$8,503	4	$2,150
4-Sep-21	13	$7,222	10	89	11	$6,715	2	$507
28-Aug-21	12	$763	9	63	11	$663	1	$100
21-Aug-21	12	$29,659	7	79	11	$29,579	1	$80
14-Aug-21	22	$17,845	11	199	12	$12,805	10	$5,04
7-Aug-21	17	$13,670	12	139	15	$11,766	2	$1,904
31-Jul-21	21	$8,160	11	134	10	$3,574	10	$4,586
July 24,2021	21	$6,367	11	139	15	$3,712	6	$2,655
17-Jul-21	14	$4,009	11	124	12	$2,015	2	$1,994
10-Jul-21	16	$3,997	13	143	11	$1,597	4	$2,4
3-Jul-21	24	$7,492	13	94	16	$3,769	8	$3,722
26-Jun-21	10	$4,995	7	85	8	$3,847	2	$1,148
19-Jun-21	28	$16,830	8	228	9	$1,861	19	$14,968
12-Jun-21	26	$27,238	15	209	19	$25,602	7	$1,636
5-Jun-21	15	$15,539	13	100	13	$14,709	2	$600
29-May-21	35	$20,279	11	145	28	$18,64	7	$1,639
22-May-21	24	$53,208	14	174	17	$51,047	7	$2,161
15-May-21	18	$10,620	13	220	11	$5,870	7	$4,809
8-May-21	17	$10,400	11	156	15	$8,386	2	$2,500
1-May-21	21	$7,200	16	115	12	$3,808	9	$3,392
24-Apr-21	8	$20,200	9	31	8	$20,200	0	0
17-Apr-21	14	$6,270	8	102	11	$40,180	3	$2,260
10-Apr-21	15	$8,940	13	129	14	$7,990	1	$950
3-Apr-21	18	$19,513	10	151	12	$16,923	6	$2,590
27-Mar-21	27	$13,942	15	244	14	$4,300	13	$9,633.50
20-Mar-21	11	$2,046	4	102	3	$270	8	$1,776
13-Mar-21	15	$3,270	9	109	6	$538	9	$2,732
6-Mar-21	24	$13,617	10	196	13	$10,395	11	$3,222
27-Feb-21	19	$8,105	12	139	15	$4,970	4	$3,135
20-Feb-21	9	$8,820	9	153	8	$8,520	1	$300
13-Feb-21	12	$4,852.60	7	81	7	2,766	5	$2,086.60
6-Feb-21	18	$9,752	13	153	14	$5,222	4	$4,530
30-Jan-21	18	$9,449	9	182	15	$8,753.80	3	$695.30
23-Jan-21	14	$8,150	8	118	6	$4,000	8	$4,150
16-Jan-21	17	$6,783	13	138	11	$2,400	6	$4,382.90
9-Jan-21	22	$6,829	14	135	18	$3,139.30	4	$3,690
2-Jan-21	7	$1,466	7	60	7	$1,466	0	0
26-Dec-20	18	$15,900	12	163	16	$5,300	1	$600
19-Dec-20	18	$9,769	14	110	14	$8,426	4	$1,343
12-Dec-20	10	$7,200	9	100	9	$3,325	1	$3,830
5-Dec-20	15	$4,261	9	122	9	$2,780	6	$1,481
28-Nov-20	19	$7,758	10	110	13	$4,003	6	$3,755
14-Nov-20	14	$864.10	14	157	12	$289.10	2	$575
7-Nov-20	13	$6,332	9	129	9	$2,483.50	4	$3,849
31-Oct-20	10	$3,995.80	8	103	6	$3,231.10	4	$754.70
24-Oct-20	6	$18,100	6	58	5	$17,709	1	$350
17-Oct-20	8	$351.90	5	55	8	$351.90	0	0
10-Oct-20	7	$5,229	3	50	4	$735	3	$4,494
3-Oct-20	14	$21,428	9	173	9	$17,535	5	$3,893
26-Sep-20	10	$12,770	8	93	5	$10,300	5	$2,470
19-Sep-20	14	$8,365	9	101	6	$1,020	8	$7,345
12-Sep-20	6	$4,406	8	59	3	$1,270	3	$3,136
5-Sep-20	11	$5,191	8	117	9	$4,061	2	$1,130
29-Aug-20	11	$2,531	9	94	5	$1,130	6	$1,401
22-Aug-20	18	$6,574	12	140	7	$1,930	11	$4,644
15-Aug-20	13	$4,991	10	97	7	$1,216	6	$3,775
8-Aug-20	12	$32,092	11	112	9	$30,457	3	$1,635
1-Aug-20	7	$5,287	8	76	5	$3,687	2	$1,600
25-Jul-20	9	$18,751	6	67	7	$18,403	2	$348
18-Jul-20	6	$1,982.50	5	50	4	$1,407.50	2	$575
11-Jul-20	11	$565.10	12	75	10	$65.10	1	$500
4-Jul-20	10	$8,889	8	98	9	$8,788	1	$100.30
27-Jun-20	8	$6,874	10	50	5	$4,972.50	3	$2,081.50
20-Jun-20	12	$4,444	9	115	7	$2,829	5	$1,615
13-Jun-20	6	$3,582	4	37	2	$350	4	$3,232
6-Jun-20	11	$3,213.70	8	65	7	$470	4	$2,743.70
30-May-20	8	$7,335	7	48	6	$4,639	2	$2,697
23-May-20	4	$432.40	4	34	3	$432.40	1	0
16-May-20	6	$310	6	34	5	$310	1	0
9-May-20	18	$5,630	16	124	14	$3,180	4	$2,450
2-May-20	15	10,400	10	90	8	$1,900	7	$,8,500
25-Apr-20	8	$3,400	9	36	5	$1,000	3	$2,450
18-Apr-20	19	$9,500	14	92	8	$185.70	11	$9,360
11-Apr-20	12	$6,000	9	40	5	$190	7	$5,800
4-Apr-20	14	$8,200	11	68	10	$2,200	4	$6,000
28-Mar-20	16	$6,500	13	96	10	$3,700	6	$2,800
21-Mar-20	11	$11,910	7	33	7	$2,250	4	$9,960
14-Mar-20	7	809.8	6	34	6	684.8	1	125
7-Mar-20	16	$2,500	15	70	13	$669	3	$1,400
29-Feb-20	13	$15,260	13	128	11	$11,760	2	$3,500
22-Feb-20	12	$3,700	10	92	10	$2,560	2	$1,130
15-Feb-20	16	$1,250	10	84	12	$35	4	$1,222
8-Feb-20	18	$6,080	14	123	14	$2,595	4	$3,485
1-Feb-20	21	$20,900	12	101	14	$17,860	7	$3,060
25-Jan-20	13	$7,430	13	62	12	$6,430	1	$1,000
18-Jan-20	23	$9,580	15	120	19	$6,580	4	$3,000
11-Jan-20	21	$14,200	18	199	16	$1,020	5	$13,200
4-Jan-20	22	$6,400	11	119	16	$3,204	6	$3,245
28-Dec-19	22	$7,150	19	175	18	$6,800	4	$327.40
14-Dec-19	24	$36,300	23	167	19	$9,500	5	$26,800
7-Dec-19	11	$10,400	11	55	7	$1,082	4	$9,370
November 30. 2019	14	$2,450	12	126	12	$1,760	2	$692.50
23-Nov-19	16	$1,995	10	41	11	$615	5	$1,380
16-Nov-19	15	$3,820	13	135	11	$2,500	4	$1,271
9-Nov-19	25	$12,900	17	182	23	$12,200	2	$575
2-Nov-19	10	$2,470	12	61	9	2,450	3	$22
26-Oct-19	12	$5,560	14	70	11	$3,860	1	$1,700
19-Oct-19	8	$6,600	8	138	8	$6,600	0	0
12-Oct-19	19	$4,300	14	55	16	$3,800	3	$500
5-Oct-19	18	$14,500	19	166	15	$11,100	3	$3,400
28-Sep-19	19	$8,100	18	132	18	$7,560	1	$550
21-Sep-19	14	$6,300	16	66	11	$2,160	3	$4,170
14-Sep-19	15	$23,800	12	56	11	$21,250	4	$2,570
7-Sep-19	17	$3,500	15	98	14	$1,900	3	$1,600
31-Aug-19	5	$8,700	6	50	5	$8,700	0	0
24-Aug-19	16	$10,000	14	82	15	$4,250	1	$5,750
16-Aug-19	10	$1,680	5	52	7	$650	3	$950
9-Aug-19	17	$17,700	15	68	14	$3,900	3	$13,800
2-Aug-19	13	$5,760	12	108	13	$5,760	NA	NA
27-Jul-19	11	$7,300	13	76	8	$6,570	3	$730
20-Jul-19	13	$11,800	13	125	11	$5,300	2	$6,500
13-Jul-19	10	$775	7	46	8	$542.50	2	$233
6-Jul-19	7	$2,500	9	85	7	$2,500	0	0
29-Jun-19	23	$8,290	15	154	17	$2,300	6	$5,970
22-Jun-19	17	$10,700	10	139	14	$7,700	3	$3,000
15-Jun-19	11	$13,500	14	160	11	$13,500	NA	NA
8-Jun-19	13	$2,870	17	55	11	$1,570	2	$1,300
1-Jun-19	10	$4,460	11	60	8	$4,140	2	$315
25-May-19	17	$4,360	14	79	14	$3,700	3	$612
18-May-19	22	$9,000	17	150	16	$3,400	6	$5,600
11-May-19	18	$19,800	17	177	15	$18,300	3	$1,500
4-May-19	10	$7,075	6	32	8	$6,900	2	$175
27-Apr-19	15	$3,200	14	117	14	$3,160	1	$40
20-Apr-19	13	$13,500	10	90	9	$12,200	4	$1,300
13-Apr-19	16	$38,900	14	91	14	$37,800	2	$1,100
6-Apr-19	12	$6,870	11	94	10	$6,730	2	$50
30-Mar-19	15	$6,470	12	84	10	$7,91.5	5	$5,677
23-Mar-19	18	$6,450	14	91	14	$5,042	4	$1,408
16-Mar-19	14	$10,180	12	115	11	$8,800	3	$1,300
9-Mar-19	9	$1,800	6	49	8	$1,300	1	$500
2-Mar-19	20	$3,033	16	107	14	$1,817	6	$1,262
23-Feb-19	12	$2,040	8	69	9	$614.60	3	$1,430
16-Feb-19	16	$9,970	18	77	16	$9,970	0	0
9-Feb-19	14	$6,400	10	110	14	$6,400	0	0
2-Feb-19	18	$6,740	15	99	16	$5,720	2	$950
26-Jan-19	13	$2,770	11	67	11	$918.95	2	$1,850
19-Jan-19	15	$3,819	16	76	12	$2,594	3	$1,225
12-Jan-19	18	$7,283	14	92	15	$1,683	3	$5,600
5-Jan-19	10	$529	12	50	10	$529	0	0
22-Dec-18	17	$2,570	13	87	14	$941	3	$1,629
15-Dec-18	10	$2,860	8	26	8	$264	2	$2,600
8-Dec-18	15	$1,819	16	65	12	$552	3	$1,267
1-Dec-18	12	$7,500	10	90	9	$1,200	3	$6,200
28-Nov-18	15	$4,500	11	107	14	$4,000	1	$500
19-Nov-18	18	$6,137	13	98	13	$2,142	5	$3,995
14-Nov-18	18	$9,200	13	152	15	$8,500	3	$694
6-Nov-18	16	$17,300	16	183	14	$16,361	2	$950
29-Oct-18	14	$14,400	18	127	17	$13,800	1	$600
24-Oct-18	13	$6,140	13	126	11	$5,122	2	$1,018
17-Oct-18	18	$18,390	15	125	14	$12,292	4	$6,098
10-Oct-18	29	$3,149	18	104	20	$1,647	9	$819
2-Oct-18	18	$9,300	11	67	14	$7,300	4	$2,000
25-Sep-18	13	$7,000	11	75	10	$6,000	3	$995
18-Sep-18	9	$3,570	7	44	9	$3,570	0	0
11-Sep-18	13	$5,900	10	132	13	$5,900	0	0
7-Sep-18	14	$5,000	15	86	11	$4,000	3	$1,000
29-Aug-18	15	$20,700	14	79	13	$4,700	2	$16,000
20-Aug-18	10	$12,400	11	53	8	$11,380	3	$1,057
14-Aug-18	12	$19,900	12	132	9	$18,889	3	$1,011
7-Aug-18	16	$68,600	11	106	13	$67,259	3	$1,340
31-Jul-18	15	$15,100	15	95	11	$13,060	4	$2,060
23-Jul-18	13	$2,130	15	60	10	$1,804	3	$1,100
17-Jul-18	14	$5,370	17	98	9	$4,310	5	$1,100
9-Jul-18	16	$11,200	15	74	10	$11,080	6	$862
3-Jul-18	13	$7,000	7	81	12	$6,330	1	$750
25-Jun-18	15	$8,800	13	97	9	$4,970	6	$3,930
18-Jun-18	13	$14,200	14	80	7	$221	6	$14,290
11-Jun-18	12	$6,300	8	96	8	$5,910	4	$803
6-Jun-18	13	$14,500	10	88	8	$14,154	5	$579
31-May-18	11	$4,890	10	63	8	$3,240	3	$1,790
22-May-18	15	$20,400	11	63	9	$19,808	6	$885
15-May-18	15	$4,700	15	106	10	$3,900	5	$643
9-May-18	11	$1,400	13	88	9	$1,300	2	$560
1-May-18	8	$14,250	7	88	7	$13,400	1	$450
24-Apr-18	12	$5,300	6	61	11	$4,470	1	$800
17-Apr-18	9	$1,800	10	44	7	$2,330	2	$1,434
11-Apr-18	11	$2,500	8	32	6	$1,690	5	$809
3-Apr-18	15	$13,400	11	121	9	$12,020	6	$1,090
28-Mar-18	10	$4,000	10	92	7	$3,870	3	$215
19-Mar-18	17	$5,800	13	51	10	$590	7	$5,165
12-Mar-18	15	$3,130	11	43	11	$2,360	4	$788
6-Mar-18	19	$5,400	13	116	10	$1,530	9	$4,860
27-Feb-18	20	$6,600	13	69	14	$5,530	6	$1,030
19-Feb-18	15	$5,500	14	111	10	$3,990	6	$1,980
12-Feb-18	23	$10,900	17	157	12	$7,110	11	$3,840
5-Feb-18	16	$8,600	13	100	7	$1,330	9	$7,800
30-Jan-18	11	$12,600	11	68	5	$7,300	6	$4,982
24-Jan-18	19	$9,400	15	129	5	$2,010	14	$7,337
18-Jan-18	10	$6,280	8	49	2	$2,100	8	$4,188
9-Jan-18	12	$16,500	12	92	9	$15,890	3	$475
3-Jan-18	10	$2,500	9	47	8	$2,350	2	$150
27-Dec-17	15	$9,000	15	113	9	$7,568	6	$1,784
18-Dec-17	15	$13,800	16	164	9	$13,010	7	$1,118
11-Dec-17	14	$9,700	10	126	12	$2,940	4	$8,500
4-Dec-17	6	$1,800	6	31	5	$1,510	1	$300
28-Nov-17	7	$3,850	8	76	4	$3,260	3	$285
16-Nov-17	10	$2,700	10	48	6	$1,840	4	$856
8-Nov-17	15	$2,380	17	91	10	$1,860	5	$516
1-Nov-17	12	$4,700	17	94	9	$3,400	4	$1,300
23-Oct-17	15	$10,500	10	67	10	$9,780	4	$1,530
18-Oct-17	6	$2,000		37	3	$225	3	$1,820
10-Oct-17	12	$6,570		100	9	$3,880	3	$3,360
2-Oct-17	8	$3,100	11	19	3	$1,630	5	$1,750
25-Sep-17	8	$4,880	8	79	5	$2,660	5	$2,070
18-Sep-17	9	$4,770			3	$300	6	$4,470
12-Sep-17	11	$4,430			8	$2,030	3	$2,400
1-Sep-17	4	$1,310			3	$317	1	$1,000
23-Aug-17	11	$13,640	9		8	$11,840	3	$1,800

M&A/FUNDINGS

Allete agrees to $6.2B buyout by CPPIB, GIP

Deal Description: Minnesota power utility Allete Inc. announced Monday it agreed to a buyout by Canada Pension Plan Investment Board and Global Infrastructure Partners worth $6.2 billion, including debt assumption. Skadden, Arps, Slate, Meagher & Flom advised Allete while Kirkland & Ellis assisted GIP and CPPIB. Latham & Watkins represented the partnership led by CPPIB and GIP in connection with the transaction and also advised CPPIB on the partnership arrangements with GIP. For more, click here.

Synopsys sells software integrity unit to Clearlake Capital, Francisco Partners for $2.1B

Deal Description: Synopsys Inc. announced May 6 it agreed to sell Software Integrity Group to Clearlake Capital Group and Francisco Partners for $2.1 billion. The business delivers integrated application security testing to software developers. Sunnyvale, Calif.-based Synopsys said the move sharpens its focus on accelerating its silicon-to-systems strategy and advancing its core design automation and design IP businesses. Santa Monica, Calif.-based Clearlake, which has an office in Dallas, has more than $75 billion of assets under management. Francisco, which has offices in San Francisco, London and New York, has raised $45 billion in capital to date.

Expected Closing: H2 2024 it the deal clears regulators

Clearlake/Francisco‘s Outside Counsel: Sidley Austin led by partners Mehdi Khodadad and Nicolai Schwarz-Gondek in Century City, Calif., but the team included finance partner Kristen L. Smith in Dallas and New York and managing associate Kendra Smith in Dallas and technology transactions managing associate Dina M.P. Kang, also of Dallas

Synopsys’ Outside Counsel: Christopher Moore and Charles Allen of Cleary Gottlieb Steen & Hamilton

Other Advisors: J.P. Morgan was financial advisor to Synopsys and Evercore, Deutsche Bank and Barclays were financial advisors to Clearlake and Francisco Partners. Simpson Thacher & Bartlett also counseled Francisco Partners.

EnCap closes $1.5B energy transition fund

Deal Description: EnCap Energy Transition announced May 8 it closed EnCap Energy Transition Fund II with commitments of about $1.5 billion, up from $1.2 billion raised for its first fund. EnCap created its second energy transition fund to invest in solutions to decarbonize the power industry as well as to put money into low carbon fuels and carbon management. The fund was supported by EnCap’s existing base and new investors domestically and internationally, EnCap Energy Transition managing partner Jim Hughes said. Founded in 2019, EnCap Energy Transition now manages around $2.7 billion in capital commitments to invest in decarbonization. EnCap has already made investment commitments to five companies through EETF II, including Linea Energy, Parliament Solar, PowerTransitions, Arbor Renewable Gas and Bildmore Renewables. EnCap has a pipeline of other potential investment opportunities in renewables, energy storage, clean fuels and carbon solutions and expects to have eight to ten portfolio companies in EETF II. EETF I has seven portfolio company investments and four fund realizations to date, including Broad Reach Power, Jupiter Power, Triple Oak and Paloma Solar & Wind.

EnCap’s Outside Counsel: Vinson & Elkins with a corporate team led by partner Robert Seber, counsel Carson Dimick, senior associate Daryne Foote and associates Alice Zhang, Tessa Krieger-Carlisle, Kolten Morris and Katherine Harclerode. The tax team was led by partners David Peck, Megan James and Wendy Salinas, senior associate Lauren Meyers and associates Katie Dillard and Paige Rapp. Also advising were partners Matt Strock, Shane Tucker, Ramey Layne and Sean Becker and counsel Phileda Tennant.

Morgan Stanley’s Durango Midstream sells Durango Permian to Kinetik for $765M

Deal Description: Sidley Austin said May 10 it represented Durango Midstream, an affiliate of Morgan Stanley Energy Partners, on its sale of Durango Permian to Kinetik Holdings for $765 million. Durango Permian’s assets, located in Eddy, Lea and Chaves Counties, New Mexico, include about 2,400 miles of gas gathering pipelines and around 220 million cubic feet per day of processing capacity.

From Sidley: Partner Cliff Vrielink, counsel Chris Folmsbee and partner George Vlahakos in Houston

Opposing Counsel: Robert Hughes, David Lassetter, Chandler Jones and Drew Clements of Vinson & Elkins

ArcLight buys interest in the Gulf Coast Express Pipeline for $540M

Deal Description: An affiliate of ArcLight Capital Partners entered into a definitive agreement to acquire an additional 16 percent equity interest in the Gulf Coast Express Pipeline from Kinetik for $540 million. According to the May 9 press release, the purchase price is comprised of $510 million in upfront cash and an additional $30 million deferred cash payment due upon a final investment decision on a capacity expansion project. The price is around 10.4 times 2024 expected EBITDA. GCX owns a 450-mile natural gas pipeline connecting the Permian to international markets.

Expected Closing: In the next few weeks

ArcLight’s Outside Counsel: Latham & Watkins with a deal team led by M&A partner Justin T. Stolte and counsel Thomas Verity with associates John Daywalt, Joseph Kmetz and Rafael Go. The finance team was led by partner Cameron Lyons, with associates Dominika Kovacicova and Alexan Stulc. Advice was also provided on tax by partner Katharine Moir with associate Seung Hyun Yang; on regulatory matters by partner Patrick Nevins; and on investment funds by associates David Moore, Jonathan Trebble-Greening, Benjamin Lea Hoekstra and Chandler Johnson.

Saturn Oil buys Saskatchewan assets for $384M

Deal Description: Saturn Oil & Gas Inc. announced May 6 the signing of an acquisition of two oil-weighted asset packages in southern Saskatchewan contiguous with its existing asset base for total net cash consideration of C$525 million ($384 million). The acquisition will be funded through a $625 million debt commitment provided by Goldman Sachs, which will replace Saturn’s existing senior secured term loan facility, as well as a bought-deal subscription receipt financing for gross proceeds of C$100 million. Saturn is a Canadian energy company with operated assets in Saskatchewan and Alberta that provide long-term economic drilling opportunities across multiple zones.

Expected Closing: June 14

Saturn’s Outside Counsel: Baker Botts in connection with the debt commitment and the U.S. aspects of the bought deal. The team included, from corporate: Joshua Davidson (partner, Houston), Carina Antweil (partner, Houston), Andrew Schulte (special counsel, Houston), Austin Lee (associate, Houston) and Talha Chaudhry (associate, Houston). On finance: Clint Culpepper (partner, Austin), Brittany Simington (senior associate, Dallas), Dela Peimani (senior associate, Austin), Morgan Copher (associate, Dallas).

Other Saturn Advisors: Echelon Capital Markets as financial advisor and Goldman Sachs as strategic advisor and provider of the debt commitment; and National Bank Financial Markets as lead arranger and sole bookrunner on its new RBL.

Saturn’s Canadian Outside Counsel: Dentons

Underwriters’ Outside Counsel: DLA Piper

Goldman Sachs’ Outside Counsel: Latham Watkins with a corporate deal team led by Austin partners Michael Chambers, David Miller and Samuel Rettew, with associates Paul Robe, Celia Mishra and Carol Bale. Torys (Canadian) also counseled Goldman Sachs.

Winvest combines with Xtribe in $141M deal

Deal Description: Haynes Boone said May 10 it represented WinVest Acquisition Corp., a publicly traded special purpose acquisition company, on its proposed business combination with Xtribe a UK-based technology platform that aims to revolutionize local e-commerce. Under the terms of the business combination, Xtribe is valued at an implied equity value of about $141 million assuming no redemption by WinVest’s existing public stockholders. Upon closing, the cross-border transaction would see Xtribe become a publicly listed company on Nasdaq. The proposed combination would provide Xtribe with improved access to new sources of capital, accelerate M&A opportunities and fund growth initiatives and development of its solution portfolio.

Expected Closing: Q4 2024

From Haynes Boone: Capital markets and securities co-chair Matt Fry and mergers and acquisitions partner Brent Beckert led the firm’s team, which included associates Taylor West and Allie Pencsak (capital markets) and Ryan Ward (M&A).

Rubicon sells fleet technology business, issues convertible preferred stock to Rodina

Deal Description: Winston & Strawn said May 7 it represented Rubicon Technologies Inc., a provider of technology solutions for waste, recycling and fleet operations, on the sale of its fleet technology business and issuance of convertible preferred stock in Rubicon to Rodina Capital, a private investment firm based in Florida. The sale, which was announced May 7, had a transaction value of $94.2 million. It included up-front cash and an earnout consideration of $74.2 million, payable in 2024, and a $20 million issuance of convertible preferred stock.

From Winston: The team was led by Houston partner Mike Blankenship and included mostly Houston-based lawyers: Justin Hoffman, Ryan Hunsaker, Louis Savage, Ben Smolij, Chris Ferazzi, Jon Bodle, Jacob Botros, Nnamdi Ezenwa, Hannah Miller, John Niedzwiecki, Matthew Regens, Alexandra Santana and Pete Staviski.

Rubicon’s Financial Advisor: Cantor Fitzgerald & Co.

Summit Midstream sells Mountaineer to Antero Midstream for $70M

Deal Description: Locke Lord said May 10 it advised Summit Midstream Partners, a publicly traded partnership focused on developing, owning and operating midstream energy infrastructure assets, on its sale of Mountaineer Midstream, a wholly owned subsidiary of SMLP, to Antero Midstream for $70 million in cash. Antero is a Delaware corporation that owns, operates and develops midstream gathering, compression, processing and fractionation assets located in the Appalachian Basin. The Mountaineer Midstream System, located within the Marcellus Formation, is in Doddridge and Harrison counties in West Virginia where it gathers natural gas under a long-term, fee-based contract with Antero Resources Corp. The transaction, announced May 2, means Antero Midstream will gather and compress substantially all of upstream production of parent company Antero Resources.

From LL: The team was led by Jennie Simmons and Lauren Richter in Houston with additional assistance provided by Bill Swanstrom, Jerry Higdon, Eric Larson, Sara Longtain, Michelle Gutierrez-Begin and Shaylen Jessop, also in Houston.

Antero Midstream’s Outside Counsel: Weil with a Houston team led by Chris Bennett including associates Humzah Yazdani, Sarah George, Greg Kerr and Matthew Kim; Partner John Scribner (Washington, DC) and counsel Michael Naughton (New York)

TPG Rise Climate acquires Olympus Terminals

Deal Description: TPG Rise Climate, the climate investing arm of TPG’s $19 billion impact investing platform TPG Rise, announced May 7 that it signed a definitive agreement to acquire Olympus Terminals, an independent storage provider for renewable fuels and refined products in Southern California majority owned by Davidson Kempner Capital Management and Intrepid Investment Management. The transaction will advance TPG Rise Climate’s efforts to reduce transportation-related greenhouse gas emissions by facilitating the import, storage and distribution of renewable fuels in Southern California and accelerating California’s transition from conventional diesel to renewable diesel. Based in Long Beach, Calif., Olympus owns and operates two storage terminals, including one at the Port of Long Beach with deepwater dock access, and an interconnected pipeline network in the region. TPG partner Jonathan Garfinkel said Olympus’ assets and operations are central to the sustainable fuels ecosystem.

Olympus’ Financial Advisor: Intrepid Partners

Olympus’ Outside Counsel: Paul Weiss, Rifkind, Wharton & Garrison

TPG’s Financial Advisor: Jefferies

TPG’s Outside Counsel: Kirkland & Ellis with a team led by corporate partners Kim Hicks and Allan Kirk; debt finance partners Lucas Spivey and Osaro Aifuwa; and tax partners Jared Rusman and Jacob Walley.

TotalEnergies JV’s with Vanguard Renewables

Deal Description: Clifford Chance said May 6 it advised TotalEnergies on entering into a joint venture agreement with Vanguard Renewables for the ownership, development and operation of renewable natural gas production projects. The deal was announced on April 24. The JV, equally owned by TotalEnergies and Vanguard, will invest in facilities that will develop food biowaste into renewable natural gas in the U.S. Vanguard is a portfolio company of BlackRock’s diversified infrastructure business.

From Clifford Chance: Partners David Stringer and Alexandra Wilde led the transaction along with associates Peter Guinnane, Matthew Mouer and Hailey Hennessey. They were assisted by partners Alexander Leff, Jason Ewart, Ty’Meka Reeves-Sobers, Marcia Hook, Jonathan Castelan, Devika Kornbacher, Kris Ferranti, Megan Gordon, Renee Latour, Katrin Schallenberg and Joe Ostoyich; counsel Daryl Fairbairn and Victoria Manthas; and associates Andrew Astuno, Holly Bauer, Thomas Gawel and Wei Bin Tan.

Tivoli buys midstream assets from Ascend

Deal Description: Houston-based Tivoli Midstream announced April 29 the closing of an acquisition of strategic terminal and infrastructure assets in the Gulf Coast of Texas in Brazoria County from affiliates of Ascend Performance Materials. Terms weren’t disclosed. Tivoli is backed by funds managed by Intrepid Investment Management, the investing arm of Intrepid Financial Partners. The Chocolate Bayou assets consist of 3 million barrels of storage capacity, open land available for development and logistics assets. With more than 100 storage tanks, the Chocolate Bayou assets can handle renewables, refined products, specialty chemicals, liquefied petroleum gas and other products. The assets have multi-modal connectivity through Union Pacific with rail, truck and barge access in addition to a pipeline system between Freeport and Texas City, Texas. The assets are anchored by a long-term partnership with Ascend, with 2.5 million barrels of storage capacity available for third-party customers.

Tivoli’s Outside Counsel: Locke Lord with a team led by Mark Miller and Case Towslee in Houston. Additional assistance was provided by Bill Swanstrom, Jerry Higdon, Rachel Fitzgerald, Tammi Niven, Jeff McPhaul, Shumaila Dhuka, Lani Blake, Shaylen Jessop and Marshall Moorhouse, also of Houston.

IOG buys assets from Civitas

Deal Description: IOG Resources II announced May 6 that it acquired oil and gas working interests and royalty interests in the DJ Basin from Civitas Resources Inc. Terms weren’t disclosed. The assets include about 1,480 developed and undeveloped wellbores primarily in Weld County, Colorado. Production is by Occidental Petroleum and Chevron Corp. The acquisition represents the fourth investment in IOGR II and the sixteenth investment for the IOG Resources platform.

IOGR II’s Outside Counsel: Gibson, Dunn & Crutcher with a corporate team led by partner Rahul Vashi and included associates Chris Atmar and Samantha Astrich. Partner Michael Cannon and associates Josiah Bethards and Austin Morris advised on tax aspects.

Rexel acquires Talley

Deal Description: Rexel announced May 7 it reached an agreement to acquire Talley, a distributor of wireless infrastructure products and solutions in the U.S., reinforcing its exposure to the fast-growing data usage trends. Terms weren’t disclosed. Talley provides network infrastructure products to mobile network operators, network installers, infrastructure operators and end-users across the U.S. Established in 1983 by the Talley family and based in Los Angeles, Talley is expected to generate sales of about C$$360 million this year and operates with the support of 11 warehouses and 300 employees. The acquisition complements Rexel’s $700 million sales in the datacom and datacenter spaces in North America and it enhances it with connected and electrified solutions to further benefit from the electrification trend of wireless connectivity and digitalization. The transaction is projected to be accretive to Rexel’s earnings per share in year one, value-creating in year two, and represent a fully synergized multiple of about 7 times EBITDA.

Expected Closing: In June if the deal clears U.S. antitrust approval

Rexel’s Outside Counsel: Sidley Austin including partners Sara Garcia Duran in Dallas and Christopher Barbuto in New York and counsel Jocelyne Kelly, managing associate Amanda Patterson and Estella Serrano in Dallas

Opposing Counsel: Joel Weinstein, Richard Sweet and Michelle Mabugat at Greenberg Glusker Fields Claman & Machtinger

Elite Roofing Supply sells to Gulfeagle Supply

Deal Description: Morgan Lewis said May 7 it represented Elite Roofing Supply on its sale to Gulfeagle Supply, which will establish the fourth largest roofing supply distributor in the nation with 141 branches nationwide. The all-cash transaction, the value of which was not disclosed, was announced on April 29. Elite Roofing is a roofing supply distributor serving residential and commercial roofing contractors. 

Expected Closing: In June if the deal clears regulators

From Morgan Lewis: Dallas partner Janice Davis and a team that included, from Texas, partner Cullen Wallace (Houston) and of counsel Melissa Brown (Houston)

Gulfeagle‘s Outside Counsel: Hill Ward Henderson

Elite’s Financial Advisor: Goldman Sachs & Co.

Additional Outside Counsel to Elite: Axinn, Veltrop & Harkrider

Carlin Consumer Health buys Penetrex from Wellbeam

Deal Description: Sidley Austin said May 7 it represented New York-based Carlin Consumer Health on its acquisition of Penetrex from Wellbeam Consumer Health. Terms weren’t disclosed on the deal, which was announced April 30. Carlin is a business positioned to acquire top over-the-counter brands. Wellbeam is backed by American Pacific Group. Founded in 2022, Carlin is sponsored by New York-based Hildred Capital, which has more than $1.5 billion in assets under management; Charlotte, N.C.-based Bourne Partners Strategic Capital, which invests in companies ranging from $5 million to $3 billion in equity value; and the Emerson Group.

From Sidley: The deal was led by partner Asher Rubin in Baltimore and managing associate Zachary Shub-Essig and associate Daniel Gessner in Century City, Calif., but included Lauren Grau, Dusan Clark and Dina M.P. Kang (technology and life sciences transactions/Dallas) and Alison C. Boren, Christopher Gleason and Kyle Gromann (global finance/Dallas).

Wellbeam’s Outside Counsel: Jones Day

Wellbeam’s Financial Advisor: Lincoln International

CAPITAL MARKETS/FINANCINGS

Guggenheim launches $850M ATM program

Deal Description: Hunton Andrews Kurth said May 9 it represented Cantor Fitzgerald & Co. in connection with the commencement of an $850 million ATM program for Guggenheim Strategic Opportunities Fund. Guggenheim Strategic Opportunities Fund is a diversified, closed-end management investment company that seeks to maximize total return through a combination of current income and capital appreciation.

From HAK: The transaction was led by partner Phil Haines in Houston with assistance from associates Kelli Rice in Washington, D.C., and Kaitlyn Thorson in Houston. Others on the team from Texas were Neimann Gipson, Samantha Siegler, Amanda Thienpont and Michael Wright.

Counsel to the Other Parties: Dechert

U.S. Acute Care offers $800M in senior notes, lines up $170M revolver

Deal Description: Sidley Austin said May 9 it represented U.S. Acute Care Services, a provider of integrated acute care services in the U.S., on its $800 million high-yield offering of 9.750% in senior secured notes due 2029 and a $170 million revolving credit facility.

From Sidley: The deal team was led out of New York by partners David Ni and Daniel O’Shea but included senior managing associate John Stribling in Houston

Opposing Counsel: Cahill Gordon & Reindel

Hess Midstream prices $600M in senior notes

Deal Description: Hess Midstream Operations, a consolidated subsidiary of Hess Midstream, announced May 8 that it priced $600 million of 6.500% senior unsecured notes due 2029. The principal amount of the offering was increased from the previously announced offering size of $500 million. Hess Midstream intends to use the net proceeds from the offering to reduce indebtedness outstanding under its revolving credit facility and any remaining net proceeds for general corporate purposes. The offering of the notes was expected to close on May 16.

Hess Midstream’s Outside Counsel: Latham & Watkins with a corporate team led by Texas partners David Miller, Samuel Rettew and Thomas Brandt with associates Celia Mishra, Cooper Shear and Jeff Serfass. Advice was also provided on tax by Houston partners Tim Fenn and Bryant Lee with associate Dylan White; and on environmental matters by Houston partner Joshua Marnitz and associate Jacqueline Zhang.

Harvest Midstream offers $500M in senior notes

Deal Description: Vinson & Elkins said May 7 it advised Houston-based Harvest Midstream I in connection with its offering of $500 million in 7.500% senior notes due 2032. The offering was priced on April 29 and closed on May 6.  Concurrently, Harvest will upsize its revolving credit facility to $850 million from $700 million and at close it will have about $745 million of availability under the facility and $100 million outstanding, S&P Global Ratings noted in a report. Harvest, an affiliate of Hilcorp Energy Corp., bought Paradigm from Ares Management last year for undisclosed terms.

From V&E: The Vinson & Elkins corporate team was led by partners Thomas Zentner and David Stone and senior associate Ximena Kuri, with assistance from associates Matt Fiorillo, Cole Leveque, Rivers Stephens and Farzin Khoshravan.

Hilcorp Energy I offers $500M in senior notes

Deal Description: Vinson & Elkins said May 8 it represented J.P. Morgan Securities as representative of the initial purchasers in connection with Hilcorp Energy I’s offering of senior notes due 2034. The Houston-based privately held company was founded by billionaire Jeffery Hildebrand. The offering was priced on May 6 and was expected to close on May 10. S&P Global Ratings said the offering was worth $500 million. The company intends to use net proceeds after deduction of initial purchasers’ discount and offering expenses to repay borrowings under its senior secured credit facility and for general partnership purposes. According to S&P, the company had about $860 million of outstanding borrowings under its $1.75 billion senior secured credit facility at year-end, and including the new issue and repayment of $361 million in borrowings under its facility year-to-date, Hilcorp will have about $7 million drawn. The offering will extend Hilcorp’s weighted-average maturity to seven years from 6.3 years and S&P notes that its liquidity profile is underpinned by target minimum liquidity of $800 million under the facility.

From V&E: The corporate team was led by partners Thomas Zentner and David Stone and senior associate Ximena Kuri with assistance from associates Matt Fiorillo, Rivers Stephens and Ashley Osborne. Also advising were partners Damien Lyster and associate Ryan Hoeffner (regulatory), partner Wendy Salinas and associate Tyler Underwood (tax), partner Matthew Dobbins and associate Kelly Rondinelli (environmental) and partner Darin Schultz and associates Taylor Daily and Lary Yau (finance).

Genesis Energy issues $500M in senior unsecured notes

Deal Description: Genesis Energy announced May 6 the commencement of a registered, underwritten public offering of $500 million in senior unsecured notes due 2032. The notes will be co-issued with its subsidiary, Genesis Energy Finance Corp., and will be guaranteed, with certain exceptions, by almost all of its existing and future subsidiaries other than its unrestricted subsidiaries. Genesis intends to use a portion of the net proceeds from the offering to redeem all of its outstanding 6.250% senior unsecured notes due 2026 and the remainder for general partnership purposes, including repaying a portion of the borrowings outstanding under our credit facility. RBC Capital Markets is leading the offering along with several joint book-running managers and co-managers. 

Underwriters’ Outside Counsel: Hunton Andrews Kurth led by Kathleen Dill, Will Freeman, Henry Havre, Robert McNamara and Mike O’Leary and including Anthony Eppert, Erin Jennings, Caitlin Scipioni, Casey Shaw and Kaitlyn Thorson

Issuer’s Counsel: Paul Hastings