With favorable economic and financial market conditions that some observers think are getting a little long in the tooth, middle market merger and acquisition activity continues to be hot, hot, hot.
According to a report released Dec. 19 by investment bank the GulfStar Group, middle market transaction volume through the first three quarters of 2019 increased over 2018 with North American M&A volume in 2019 projected to surpass $2 trillion for the second straight year.
However, the bank noted that the pace of 2019 activity was skewed more heavily toward earlier in the year and associated deal count actually declined.
“It is too soon to conclude that expectations of slowing growth among middle market companies is damping owner motivation to sell,” the firm said. “More likely is that three years of wide-open dealmaking activity has depleted the supply of quality middle market companies available to transact.”
In Texas, deals continued to proliferate in a year-end rush to ink transactions before the holidays began, with Texas attorneys working on 22 transactions valued at $7.15 billion for the week ending Dec. 20.
While activity was down from the 24 deals worth $26.8 billion reported the week before, it was up from the 17 transactions valued at $2.57 billion at this 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)
(Deal Values in Millions)
| Deal Count | Amount | Firms | Lawyers | M&A Count | M&A Value $M | CapM Count | ||
|---|---|---|---|---|---|---|---|---|
| 14-Jun-2025 | 9 | $478 | 8 | 133 | 6 | 0 | 3 | $478 |
| 07-Jun-2025 | 16 | $26,210 | 11 | 196 | 11 | $24,744 | 5 | $1,466 |
| 31-May-2025 | 19 | $23,381 | 11 | 166 | 12 | $18,665 | 7 | $4,717 |
| 24-May-2025 | 15 | $24,033 | 11 | 121 | 13 | $23,624 | 2 | $409 |
| 17-May-2025 | 16 | $21,760 | 12 | 145 | 11 | $18,615 | 5 | $3,145 |
| 10-May-2025 | 24 | $33,175 | 16 | 206 | 19 | $30,765 | 5 | $2,410 |
| 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 |
Nineteen law firms and 180 Texas lawyers were involved in the activity. There were 18 M&A/private equity/venture capital deals worth $6.8 billion and four capital markets/financing transactions valued at $327.4 million.
M&A/PRIVATE EQUITY/VENTURE CAPITAL
Weil aids Apergy on $4.4B purchase of Ecolab’s upstream energy unit
Oil and gas drilling services provider Apergy Corp. said Dec. 19 that it agreed to buy Ecolab Inc.’s upstream energy business for almost $4.4 billion.
The purchase price includes 127 million shares worth $3.9 billion and assumed debt of $492 million.
The company said the consideration works out to 12.5 times this year’s estimated EBITDA, 10.3 times including full-run rate cost synergies and less than 9.5 times next year’s estimated EBITDA including the synergies.
Ecolab shareholders will own about 62% of the combined company and Apergy shareholders 38%. The two expect to achieve $75 million in annual synergies within 24 months of closing.
The Woodlands-based Apergy hired Weil, Gotshal & Manges to advise it while Ecolab used Skadden, Arps, Slate, Meagher & Flom, both led by lawyers in New York.
Apergy’s in-house counsel on the deal were Julia Wright, senior VP and general counsel, and Beth Ann Dranguet, assistant general counsel.
Wright told The Texas Lawbook that while the company supports its Texas lawyers, it relied on the Weil team from New York, Washington, D.C., and California led by partner Michael Aiello given the specific expertise required for the transaction.
A Weil spokeswoman said associate Vynessa Nemunaitis in Dallas was part of the banking team.
Wright previously was senior VP and general counsel and secretary at Dover Energy, which spun off Apergy last year. Before that she worked in the law department of Nabors Industries Inc., including as VP and general counsel, and held senior legal roles at Tesco Corp.
The Fordham Law School graduate began her legal career as a corporate attorney at Baker McKenzie and Vinson & Elkins.
Centerview Partners provided financial advice to Apergy (Gayle Turk and Krish Dutta) along with Lazard (Mark McMaster, Doug Fordyce and Justin Katz). BofA Securities assisted EcoLab.
Ecolab plans to separate the upstream energy business of Nalco Champion, which is being renamed ChampionX, and will combine it with Apergy in a tax-free transaction, creating a scaled, global leader in production-optimization solutions.
The parties said the transaction is financially compelling for both sets of shareholders, creating a company with an enterprise value of around $7.4 billion and annual sales of $3.5 billion with a strong balance sheet and robust free cash flow generation.
Sivasankaran “Soma” Somasundaram, president and CEO of Apergy, said in a statement that the deal creates a global leader that provides customers with a full suite of production-optimization solutions, solidifying its position as a focused leader in the production segment while providing shareholders and employees “better long term growth opportunities.”
Bank of America has committed to provide a term loan financing to ChampionX for around $537 million to fund a net cash payment of $492 million to Ecolab. At closing, ChampionX is expected to have $45 million in cash. Apergy also obtained commitments to amend its debt facilities and guarantee the ChampionX debt to permit the transaction.
Locke Lord advises CopperPoint on $900M Alaska insurance deal
Locke Lord said Dec. 18 that it represented Phoenix-based mutual holding company CopperPoint Insurance Group on its acquisition of the privately-held parent company of workers’ compensation and liability insurer Alaska National Insurance for $900 million.
Houston partner Christopher Martin co-led the deal team, whose Texas team members included partners Ed Razim, Jerry Higdon, Brandon Renken and Laura L. Ferguson of Houston and Van Jolas of Dallas, senior counsel DeLaina Mulcahy and associates Rachel Fitzgerald, Stuart Lawson and Eric Boylan.
Debevoise & Plimpton counseled Alaska National, which used Macquarie Capital for financial advice. Waller Helms Advisors assisted CopperPoint.
The transaction was announced Sept. 17 and closed Nov. 29.
Phoenix-based CopperPoint and Anchorage-based Alaska National both claim to be top workers’ compensation insurers in their geographic markets. Their insurance operations will represent $625 million in forecasted written premium, $5 billion in assets and a $1.4 billion enterprise surplus.
Willkie, V&E work on BKV’s $770M purchase of Devon’s Barnett assets
Devon Energy Corp. announced Dec. 17 that it agreed to sell its Barnett Shale assets in North Texas to Banpu Kalnin Ventures, known as BKV, for $770 million, representing the latest bet on rising natural gas prices.
BKV is backed by its sole investor, Banpu Pcl, a Thailand-based coal mining and power-generation company with $8 billion in assets.
Willkie Farr & Gallagher represented BKV with a team led by partner Michael De Voe Piazza and associate David Aaronson and including associates Adam Whitehouse, Albert Jou and Luisa Davis on corporate matters and partner Robert Jacobson and Yaniv Maman on tax.
Vinson & Elkins counseled Oklahoma City-based Devon with a group headed by partner John B. Connally with assistance from partner Mingda Zhao, senior associate Joclynn Townsend and associates Erin Mitchell, Cesar Leyva and Helen Xiang.
Also on the V&E team were partner Ramey Layne (corporate); partner Todd Way and associates Jake Wight and Brian Russell (tax); partner Brian Bloom and associate Austin Light (executive compensation/benefits); partner Larry Nettles and senior associate Matt Dobbins (environmental); and partner Sean Becker (labor/employment).
Others were partner Guy Gribov (finance), counsel Brad Foxman (restructuring), counsel Suzanne Clevenger and associate Mike Malenfant (energy regulatory and partner Peter Mims (intellectual property).
Jefferies and Citi were Devon’s financial advisors, with Greg Chitty and Guy Oliphint from Jefferies and Chris Miller, Serve Tismen and Bruce Cox from Citi.
The parties expect to close the deal in the second quarter of 2020.
Devon CEO and president Dave Hager said in a statement that the transaction marks the company’s completion of its transformation into a U.S. oil growth business.
“The timely and tax-efficient exit from Canada and the Barnett this year has generated $3.6 billion of proceeds at accretive multiples to Devon’s current valuation,” he said. “These transactions accelerate efforts to focus exclusively on our resource-rich U.S. oil portfolio, where we have the ability to substantially increase returns, margins and profitability.”
Devon said its board approved a new $1 billion share-repurchase program with $800 million contingent on the completion of the sale. The move would bring the company’s repurchase authorization to $6 billion (it’s already repurchased almost 30% of its shares for $4.8 billion).
The properties produced an average of 597 million cubic feet equivalent per day in the third quarter and proved reserves amounted to 4 trillion cubic feet equivalent at the end of 2018. They cover 320,000 gross acres and have 4,200 producing wells, making BKV the largest natural gas producer in the Barnett.
BKV CEO Christopher Kalnin said the deal represents its continued belief in the long-term potential of U.S. shale gas and is in line with its vision of developing “a greener and smarter energy portfolio.”
The transaction is BKV’s seventh since 2016, with more than $1.3 billion deployed into gas-weighted assets. The acquisition will make it a big producer of natural gas in the U.S. with more than 780 million cubic feet per day of production, including in Pennsylvania’s bortheast Marcellus.
Arko unit GPM buys Empire Petroleum for $400M
Israel’s Arko Holdings said Dec. 17 its unit GPM acquired the U.S. fuel distribution unit of Dallas-based Empire Petroleum Partners for $400 million.
Empire general counsel Travis Booth in Dallas worked on the deal along with non-Texas lawyers at Duane Morris.
Arko/GPM used Maury Bricks in Virginia as in-house counsel and Julius Schwartz for outside counsel.
The business supplies fuel to 1,460 filling stations operated by third parties as well as retail operations that include 75 petrol stations and convenience stores.
At closing, which is expected in the first half of next year, GPM will operate 1,350 filling stations and convenience stores and supply fuel to 1,590 stations operated by others in 33 states.
The purchase, which GPM is financing with a credit line from U.S. banks, will double the amount of fuel GPM supplies per year to 2.2 billion gallons.
Winston, K&E, W&C work on WaterBridge’s acquisition, capital raise
Five Point Energy- and GIC-backed WaterBridge Holdings said it acquired produced water infrastructure in the southern Delaware Basin from Blackstone Energy Partners-backed Primexx Energy Partners, Tall City Exploration III and Jetta Permian.
WaterBridge issued $345 million in equity capital, including $195 million of common equity to Five Point Energy, GIC and management and $150 million of perpetual preferred equity to a unit of Magnetar.
The Primexx system is in Reeves County and includes around 70 miles of pipeline and six disposal wells with 150,000 barrels per day of permitted capacity. WaterBridge and Primexx entered into a 20-year produced water management agreement at market rates for Primexx’s operated acreage within the area of mutual interest.
The assets purchased from Tall City Exploration III and Jetta Permian are in Reeves County and include 29 miles of pipeline and two disposal wells with 40,000 barrels per day of permitted capacity.
WaterBridge and the operators entered into 15-year produced water management agreements at market rates for operated acreage within the area of mutual interest.
Winston represented WaterBridge on the acquisition with a team led by partner Isaac Griesbaum in Houston. Others were Houston associates Monica Diddell, Chris Cottrell and Madeline Gaffney, Dallas partner Andrew Betaque and Dallas associate Danielle Marr.
Kirkland counseled Primexx with a team led by Houston corporate partner Chad Smith and associates Will Eiland of Dallas and Isaac Bate of Houston. Assisting were partner Mark Dundon and associate Joe Tobias in Houston on tax matters and partner Jon Kidwell and associate James Dolphin in Houston on environmental.
Kirkland also counseled Magnetar on the WaterBridge investment led by Dallas corporate partner Kevin Crews. Others on the team were associates Scott Delaney, Key Hemyari and Abbey Zuech, tax partners David Wheat and Lane Morgan, environmental transactions partner Jon Kidwell and capital markets partner Lanchi Huynh, all of whom are in Dallas.
White & Case counseled WaterBridge and Five Point Energy on the equity issuance, including Houston partners Steve Tredennick and Mark Holmes in Houston and associates Ted Seeger and Anil Tanyildiz and partner Chad McCormick on tax.
Simmons Energy, a unit of Piper Jaffray, provided financial advice to Primexx, including Spencer Rippstein, David Zhu and Ben Huskinson.
Latham, Simpson, Baker Botts, Winstead aid on Superior’s asset sale to Forbes
Superior Energy Services Inc. announced that it agreed to sell its U.S. service rig, coiled tubing, wireline, pressure control, flowback, fluid management and accommodations service lines to Forbes Energy Services Ltd., which will create a new publicly traded consolidation platform for U.S. completion, production and water solutions.
Superior and Forbes jointly obtained a financing commitment for the new entity and Superior obtained a separate engagement for uncommitted financing for its remaining business post-transaction.
The deal is expected to help Superior cut the amount of 2021 notes outstanding by up to $500 million by reducing total debt by $250 million through the issuance of the combination’s notes and extending the maturity of up to another $250 million worth of Superior 2021 notes.
Latham & Watkins represented Superior on the deal with a Houston-based corporate team led by partners Ryan Maierson, John Greer, Jesse Myers and Nick Dhesi with associates Denny Lee, Erin Lee and Adam Midkiff.
Certain liability management aspects of the transaction are being led by Houston partner David Miller with associates Monica White and Paul Robe. Houston associates Jim Cole and Michael Rowe handled tax issues and Houston partner Joel Mack worked on environmental.
Latham also represented Superior on the financing of the transaction, with a team led by partner Catherine Ozdogan with associates Benjamin Gelfand, Christopher Wood and Whitley Johnson.
Simpson Thacher & Bartlett’s Houston office advised the financing sources, including counsel Brandan Still, partner Robert Rabalais and associates Dylan Benac, Dustin Cooper and Brandon Barton on banking and credit and partners Brian Rosenzweig and associate Matt Hart on capital markets.
Lazard Frères & Co.’s Doug Fordyce and Austin Harbour provided financial advice to Superior, which used Baker Botts as outside legal counsel, including Houston partner Josh Davidson and associate Jennifer Gasser.
Forbes used Fried, Frank, Harris, Shriver, & Jacobson (partner Warren de Wied in New York) and Winstead was legal advisor to the special committee of Forbes’ board (shareholder R. Clyde Parker and associates Roy Richter and Cameron Warr in The Woodlands).
Forbes’ financial advisor was Piper Jaffray’s Simmons Energy, including Sanjiv Shah, Ian Falik and Time McEuen.
When the transaction closes, Superior will receive a 65% economic interest in the combination (52% on a fully diluted basis) and Forbes shareholders will receive about a 35% economic interest (48% on a fully diluted basis).
The transaction has to clear Forbes’ stockholders but is expected to close in the first quarter. Ascribe Capital and Solace Capital Partners, which own 40% of Forbes’ outstanding common stock, committed to vote their shares in favor of the transaction.
V&E counsels Rebellion Photonics on sale to Honeywell
Honeywell said Dec. 16 it bought Houston gas monitoring provider Rebellion Photonic. Terms of the deal weren’t disclosed and Honeywell said there’s no change to its financial guidance this year as a result of the deal.
Vinson & Elkins advised Rebellion with a corporate team led by partner Milam Newby and senior associate Michael Gibson with assistance from associate Ann Stehling.
Partner Jason McIntosh and senior associate Allyson Seger helped out on tax; partner Shane Tucker and associate Austin Light on executive compensation/benefits; partner Devika Kornbacher and associate Ben Cukerbaum on technology transactions/intellectual property; and partner Sean Becker on labor/employment.
Piper Jaffray’s Simmons Energy provided financial advice to Rebellion with a team led by Paul Steier, Vinu Iyengar, Matt Guyton and Max Bastian.
Charlotte, N.C.-based Honeywell said Dec. 16 that Rebellion offers the industry’s only real-time monitoring platform that visually identifies and quantifies gas releases to quickly detect and analyze leaks and keep workers safe.
The system uses an artificial intelligence-driven software platform. The buyer said its self-calibrating technology offers a cost-effective monitoring solution by reducing the need to install, maintain and calibrate sensors throughout a site.
Honeywell said the deal expands its gas monitoring, industrial processing and software solutions with a platform that maximizes safety, operational performance, emissions mitigation and compliance in oil and gas, petrochemical and power industries.
Rebellion’s customers include some of the world’s largest oil and gas, petrochemical and power companies and its solutions are deployed at refineries, oil rigs, offshore platforms, pipelines and power plants. Founded in 2009, the company is led by CEO Robert Kester.
John Waldron, president and CEO of Honeywell Safety and Productivity Solutions, said in a statement that the deal accelerates the company’s transformation into a software-industrial company.
Willkie advises Contango Oil on $6M development JV with Juneau
Willkie Farr & Gallagher said Dec. 20 said it advised Houston-based Contango Oil & Gas Co. on its agreement with Juneau Oil & Gas to jointly develop certain exploration prospects in the offshore Gulf of Mexico shelf.
Partner Cody Carper led the team, which included associate Lynn Abell.
The joint development agreement provides that Contango will have the right to acquire an interest in all of Juneau’s prospects in the Gulf of Mexico for $6 million, including $1.69 million in cash and $4.31 million in stock.
The first prospect, the Iron Flea, is in the Grand Isle Block 45 Area and will be drilled in the second quarter at a cost of $6.3 million.
Contango also will have the right to acquire an interest in all future Juneau-generated prospects in the Gulf on similar terms and conditions, with Juneau delivering to Contango no less than an 80% net revenue interest (except for Iron Flea).
Contango CEO and president Wilkie S. Colyer said in a statement that Juneau discovered the Dutch and Mary Rose field, which continues to be an important contributor to Contango’s reserves and cash flow.
“This will not distract or deter us from continuing to look for distressed, onshore, PDP [proved developed producing] and cash flow-heavy assets to acquire, but it instead complements that strategy,” he said.
Juneau is led by president Brad Juneau.
Shearman, DLA work on Osano’s $5.4M capital raise
Osano, an Austin-based company building a platform for data privacy transparency, raised $5.4 million in Series A funding.
LiveOak Venture Partners and Next Coast Ventures co-led the round.
Shearman & Sterling partner Alan Bickerstaff represented LiveOak and Next Coast while DLA Piper partner Jenifer Renzenbrink Smith assisted Osano.
V&E advises CoolSys on two acquisitions
Vinson & Elkins said Dec. 20 it advised refrigeration and HVAC company CoolSys on its acquisition of BRR Refrigeration in Virginia Beach, Va., and Tech Mechanical in southeast Michigan.
Partner Brittany Sakowitz led the team with assistance from associates Kelly King and Ben Sandlin.
Also helping out were senior associate Christie Alcalá on labor/employment, senior associate Heather Johnson and associate Gina Hancock on executive compensation/benefits and partner Lina Dimachkieh on tax.
Brea, Calif.-based CoolSys, which is led by CEO Adam Coffey, said that BRR Refrigeration is its first step into the Mid-Atlantic region, where it plans to further expand, and Tech Mechanical will strengthen its commercial division and expand its market presence into Michigan.
Winston reps UL unit AWS Truepower on Homer acquisition
Winston & Strawn said Dec. 18 it represented AWS Truepower, an affiliate of UL Inc., on its acquisition of Boulder, Colorado-based Homer Energy. Terms weren’t disclosed.
The team was led out of Chicago but included Dallas associate Zak Morozov.
Homer produces modeling and optimization software for microgrids. UL bought AWS Truepower in 2016.
UL said the acquisition combines its experience in solar, wind and battery technology with Homer’s system design capabilities and distributed energy project database, enabling the company to expand services across the renewable energy value chain.
Foley advises Maya Toys on Orbeez sale to Spin Master
Foley said Dec. 19 that it represented Huntington Beach, Calif.-based Maya Toys on the sale of Orbeez and other brands to Spin Master Corp. for an undisclosed sum.
Senior counsel Chris Babcock in Dallas co-led the team, which included associates Rachael Mozelewski and Molly Richey.
Orbeez water beads grow to a round form when adding water, a technology that can be applied to other toys ranging from arts-and-crafts sets to pampering products.
Toronto-based Spin Master plans to add Orbeez and other Maya Toys brands to its growing activities segment line.
Maya Toys’ product categories include arts and crafts, beauty and fashion, creative, outdoor and novelty toys.
Sidley advises Twin Eagle on sale to Badlands Tank Lines Texas
Piper Jaffray’s Simmons Energy said Dec. 18 that it provided financial advice to Twin Eagle Midstream Assets on the sale of Twin Eagle Transport to Badlands Tank Lines Texas. Terms weren’t disclosed.
Twin Eagle is sponsored by Five Point Energy and GSO Capital Partners.
Sidley Austin counseled Houston-based Twin Eagle, including partner Cliff Vrielink and associate Atman Shukla, both of Houston. Dvorak Law Group in Omaha represented Badlands.
The Simmons team included Spencer Rippstein, David Zhu, Ben Huskinson
Founded in 2011, Badlands is an active carrier of oil and gas in the Bakken, Niobrara, Permian and Eagle Ford Basins.
Twin Eagle provides wholesale energy and midstream services throughout North America. Twin Eagle Transport serves as a link between producer and end-user demand in the Permian and Eagle Ford.
Kirkland advises Bison on Gulfport water infrastructure purchase
Kirkland & Ellis said Dec. 20 it represented Bison, Oklahoma’s largest water infrastructure, logistics and solutions provider, on its purchase of Gulfport Energy Corp.’s water infrastructure in the Scoop oil and gas prospect.
Corporate partner Chad Smith and associates Will Eiland and Isaac Bate led the deal. Others pitching in were tax partner Mark Dundon and associate Joe Tobias and environmental transactions partner Jon Kidwell and associate Devi Chandrasekaran.
The parties also entered into 15-year agreements in which Bison will exclusively manage all of Gulfport’s water gathering, recycling, storage, reuse, disposal, transportation, logistics and sourcing within a dedicated area across Grady, Garvin and Stephens counties in Oklahoma.
The assets include a multi-line water gathering and delivery system, 2.3 million barrels of storage capacity, 40,000 barrels per day of recycling capacity, 55,000 barrels per day of freshwater supply capacity, associated real property and a pending saltwater disposal permit.
Bison CEO North Whipple said in a statement that the company now serves more than 12 explorers and producers dedicated to its infrastructure under long-term agreements. The assets also will allow the company to bring new recycling and reuse solutions to its customers throughout the Scoop.
“We are proud to have been selected among the many other bidders in this highly competitive process and believe it is a testament to our proven track record of responsibly managing water infrastructure of any size, scale and scope across Oklahoma,” he said.
MWM counsels Geoforce on sale to LLR Partners
LLR Partners said it acquired a majority stake in Geoforce, a Plano-based provider of traceability solutions for field equipment and vehicles.
Munck Wilson Mandala partner Larry Mandala of Dallas represented Geoforce. Other team members were partner Randy Ray and associates Tasha Schwikert and Stacy Grace, also of Dallas.
Intellectual property and employment attorneys also were heavily involved in the transaction, principally intellectual property partner Michael Rodriguez and senior attorney Andy Graham, both of Austin, and employment partner Audrey Mross in Dallas.
DLA Piper represented LLR Partners out of Virginia.
Geoforce CFO Vincent Hsieh said MWM has worked for the company for 12 years from its inception through multiple capital raises, financings and acquisitions.
Geoforce previously raised $19 million in venture capital funding from firms like Bison Capital Asset Management and Houston Ventures.
Musgrove advises Maverick Fitness on sale to Halifax Group
The Halifax Group recapitalized Maverick Fitness Holdings, a Frisco-based franchisee of Orangetheory fitness studios in the Dallas-Fort Worth area. Terms weren’t disclosed.
Musgrove Law Firm’s Len Musgrove in Dallas represented Maverick. Davis Wright Tremaine represented the buyer out of Seattle.
Halifax partnered with Maverick CEO Shane Adams and other management, who will remain with the company after the transaction.
Maverick is one of the largest franchisees for Orangetheory Fitness, with 31 studios and 23,000 members in North Texas.
Adams said Halifax is well-known for its focus on wellness and franchising and is excited to collaborate with its team to expand its model and bring the Orangetheory network to more communities in Texas and beyond.
David Bard and Amit Swaroop led the deal from Washington, D.C.-based Halifax, which was founded in 1999 and invests in companies with enterprise values generally between $50 million and $300 million.
EQT-backed Contanda closes sale to JP Morgan
Houston-based Contanda announced Dec. 18 that institutional investors advised by JP Morgan Asset Management completed the acquisition of the company from the EQT Infrastructure II fund. Terms weren’t disclosed.
Simpson Thacher & Bartlett advised Contanda on the deal with lawyers outside of the state. James “Jim” Keller is Contanda’s VP of legal in Houston.
Keller joined Contanda in 2016 after working in various upstream, midstream and downstream legal capacities with Cities Service, Williams Natural Gas, Aquila Energy, Enron and Enterprise Products. He earned a law degree from the University of Tulsa.
Contanda said the transition of ownership will allow it to continue to deliver on its business objective of doubling its bulk liquid terminal storage capability by 2022.
The company also wants to expand into the bulk renewable and petrochemical markets and maintain a leading market position in the refined products, renewable fuels, chemical, and agricultural commodity sectors.
CAPITAL MARKETS/FINANCINGS
V&E, Latham advise on Brigham Minerals’ $199.1M stock offering
Vinson & Elkins said Dec. 17 that it advised Brigham Minerals Inc. on an underwritten public offering of 11 million shares of its Class A common stock at $18.10 per share, or $199.1 million.
Partners Doug McWilliams and Thomas Zentner led the corporate team with assistance from associates Bo Shi, Luke Thomas and Layton Suchma.
Latham & Watkins said Dec. 19 it represented the underwriters, including Houston partner David Miller with associates Monica White, Om Pandya, Erin Lee, Kate Wang, Ashlyn Royall and Evann Hall. Houston partner Tim Fenn with associate Jim Cole advised on tax matters and Houston partner Joel Mack on environmental matters.
Austin-based Brigham Minerals offered 6 million shares of its common stock and shareholders Warburg Pincus, Yorktown Partners and Pine Brook Road Advisors offered 5 million, granting the underwriters a 30-day option to purchase up to 1.65 million more shares.
Brigham Minerals plans to use the net proceeds of its stock sale to repay outstanding debt under its credit facility and fund future acquisitions of mineral and royalty interests.
Credit Suisse, Goldman Sachs and RBC Capital Markets were the lead book-running managers for the offering.
Porter Hedges aids Carriage Services on its $75M notes offering
Porter Hedges said Dec. 20 it represented Carriage Services Inc. on its $75 million offering of 6.625% senior notes due 2026 and an increase in its credit facility to $190 million.
The team included partners Adam Nalley, Nick Nicholas and Joyce Soliman, counsel Riki Thomas and associates Ady Durham and Ilana Leuchtag, all of Houston.
The revolver’s increased commitments will be used for ongoing working capital and for general corporate purposes.
Carriage Services is a top provider of deathcare services and merchandise in the U.S. operating 187 funeral homes in 29 states and 30 cemeteries in 11 states.
Gibson Dunn advises Contango on $53.3M stock offering
Gibson, Dunn & Crutcher counseled Contango Oil & Gas on a $53.5 million stock offering, some of which will be used to develop properties in the Gulf of Mexico under its joint agreement with Juneau Oil & Gas (see item above).
The team was led by Houston partner Hillary Holmes and including Houston associates Justine Robinson and Monika Kluziak.
The purchasers were a group of institutional and accredited investors, including certain funds and accounts advised by T. Rowe Price Associates Inc.
Contango chairman John C. Goff, CEO and president Wilkie S. Colyer Jr. and senior VP of corporate development W. Farley Dakan also were scheduled to sell 2.34 million shares of preferred stock that automatically convert into common stock if approved by Contango’s shareholders.
Colyer said in a statement that the ability to raise capital in what is a very challenging environment for the oil and gas industry is a testament to the quality of its shareholder base and is a competitive advantage for the company.
Sidley aids Barings, SPT as lenders to Basalt Infrastructure
Sidley Austin said Dec. 18 it represented Barings and SPT Infrastructure as lenders for a revolving and term credit facility for Basalt Infrastructure Partners II related to its acquisition of Third Coast Midstream’s natural gas transmission business. Terms weren’t disclosed.
The team was led out of New York but included counsel Adam Cowan in Houston and associates Andy Chen, Danielle Mirabal, Alex Morgan and Kaitlin Schock, all of Houston.
The Houston-based business will be rebranded as Black Bear Transmission, which includes seven regulated natural gas pipelines stretching 550 miles.
The Texas Lawbook reported in October that Vinson & Elkins advised Basalt on the deal while Orrick counseled Houston-based Third Coast.
UPDATE/OTHER:
After months of uncertainty, Callon Petroleum’s $723 million purchase of Carrizo Oil & Gas Inc. closed Dec. 20 after both companies’ shareholders approved the transaction. The deal was amended after activist investors, including Paulson & Co., criticized it for giving too much consideration to Carrizo shareholders, which valued the target at $1.2 billion. The original deal offered 2.05 Callon shares for each Carrizo share, which was reduced to 1.75 shares, giving Callon shareholders 58% of the combined company versus 54%. Kirkland & Ellis advised Callon on the deal while Baker Botts assisted Carrizo.
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Blackstone Infrastructure Partners’ purchase of the shares it doesn’t already own of Tallgrass Energy also seems closer to closing after the buyer sweetened its bid to $3.5 billion, which Tallgrass accepted. The $22.45 per share offer represents an almost 23% premium over the shares’ value at their last close and a 15% premium over the previous $19.50 offer. Analysts at Tudor, Pickering, Holt said that the lofty valuation marker is a positive for the sector. Others in Blackstone’s buying group include Spain’s Enagás, GIC, NPS and USS, which, with Blackstone, already own nearly 44% of Tallgrass’ Class A and Class B shares. The deal is expected to close in the second quarter.
As The Texas Lawbook previously reported, Texas attorneys working on the deal came from Baker Botts (lead partner Mollie Duckworth for Tallgrass Energy), Vinson & Elkins (partners Lande Spottswood, Keith Fullenweider, Alan Beck and Ryan Carney for Blackstone), Sidley Austin (tax partner Zackary Pullin for GIC) and Latham & Watkins (Houston partner Michael Chambers and partner Craig Kornreich for the lenders).
Joining in were Latham partners Bill Finnegan and Jeff Muñoz for Enagás and Bracewell for the conflicts committee of the board of Tallgrass’ general partner (partners Troy Harder, Gary Orloff, Heather L. Brown and Tony L. Visage, counsel Jennifer N. Dill and associates Sarah Ashley Byrd and Andrew W. Monk). The bankers included Michael Jamieson and Claudio Sauer at Citi and Greg Weinberger at Credit Suisse for Blackstone and Rob Pacha at Evercore for the conflicts committee.
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Simpson Thacher & Bartlett said Dec. 15 that some of its Houston attorneys advised on the financing for WPX Energy’s $2.5 billion acquisition of EnCap Investments-backed Felix Energy. The team included partner Matthew Einbinder and associates Zach Banks and Daniel Lewis on banking and credit; partner Brian Rosenzweig and associates Brian Mathes and Rick Titcomb on capital markets; and counsel Brad Honeycutt on M&A.
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Hunton Andrews Kurth said Dec. 18 it worked on nine M&A and four capital markets transactions this year previously unreported by the Corporate Deal Tracker.
The firm advised First Commerce Credit Union on its acquisition of Citizens Bank on Sept. 12 for $44 million (Texas team members included partners Scott Austin and Jeff Blair and associates Marysia Laskowski, Caitlin Sawyer and Zachary Silvers). Alston & Bird counseled Citizens while Skyway Capital Markets was First Commerce’s financial advisor.
HuntonAK also said it counseled Heartland BancCorp on its purchase of Victory Community Bank on Nov. 29 for $41.1 million. The co-leads were Dallas partners Peter Weinstock and Beth Whitaker and their team included Austin, Blair, Laskowski, Sawyer and Dallas partner Abby Lyle. Dinsmore & Shohl represented Victory.
The firm also advised Trinity Capital Corp. on its acquisition by Enterprise Financial Services Corp. in March for $213.7 million. Whitaker led that deal with a team that included Austin, Blair and Houston associate Emily Cabrera; Dallas associate Gary Enis; Austin partner Anthony Eppert; Dallas partners Tonya Gray and Eric Hail; Dallas associates Nate Jones, Laskowski and Gray Linyard; Lyle and Dallas partners Alan Marcuis and Brian R. Marek; Houston partner Eric Murdock; Sawyer and Silvers along with associate Lauren Titolo; and Weinstock. Holland & Knight represented Enterprise Financial.
HuntonAK also assisted Summit Financial Group Inc. on its purchase of Cornerstone Financial in September for $20 million, including Blair, Enis, Marcuis, Marek, Sawyer, Silvers, Weinstock and Whitaker (Bowles Rice aided Cornerstone); Lubbock National Bank on its sale to Amarillo National Bank in March for an undisclosed sum led by Marek and Weinstock and including Alford, Austin, Blair, Eppert, Goss, Jones, Sawyer and Silvers (Alston & Bird aided Amarillo, including Dallas partners Sandy Brown and Patrick Hanchey and associate Bart Nebergall); and VCM Lodging Enterprises on its purchase of Lodging Enterprises and Lodging Properties in November for $215.5 million (led by partners Ben Browder and Dan McCormick and including Austin, associates Andrew Blasio and Jimmy Bui, counsel Trlica Kennedy and partners Sarah Kittleman, Daryl Robertson and Howard Schreiber).
Other deals HuntonAK worked on were counseling Union Bancshares Inc. on its sale to AIM Bancshares in October for $24.7 million, including counsel Suzie Alford and Austin partner Erin Fonte along with Blair, Cabrera, Enis, Jones, Sawyer, Silvers, Titolo and Weinstock (Fenimore, Kay, Harrison & Ford assisted Aim); County Bank Corp. of Michigan on its sale to ChoiceOne Financial Services in September for $89 million, including Weinstock and Kruppa along with Austin, Blair, Enis, Laskowski, Jones, Marcuis, Sawyer, Silvers and Whitaker (Warner Norcross + Judd helped ChoiceOne); and Pinnacle Bank on its sale to Arizona Federal Credit Union in December for $44 million, with Weinstock and counsel Carleton Goss in Dallas (Howard & Howard counseled Arizona).
In capital markets, the firm advised AG Mortgage Investment Trust Inc. on a $115 million preferred stock offering in October handled by Bank of America Merrill Lynch. The team was led out of Richmond, Va., but included Houston partner Henry Havre. Skadden, Arps, Slate, Meagher & Flom counseled the other parties.
HuntonAK also was underwriters’ counsel on Höegh LNG Partners’ $120 million public offering of common units, also in October. The group was co-led out of Houston by partner Phil Haines with a team that included Havre, associate Oliver Fankhauser, partners Tom Ford and Robert McNamara and associates Audra Herrera, Mike Hoffman and Michael Wright, all of Houston. Baker Botts counseled the other parties.
The firm also counseled Hilltop Securities Inc. on two issues. They included a $300 million private offering of commercial paper in November (led by Dallas senior partner David Barbour and including Havre and Dallas counsel Sunyi Snow) and a $200 million private offering of commercial paper in early December (also led by Barbour and including Havre and Snow). Emmet, Marvin & Martin counseled the other parties on both transactions.