Last week came some startling news: James Chenoweth, longtime tax partner at Gibson Dunn & Crutcher and Baker Botts, joined insurance broker Alliant Insurance Services in the mergers and acquisitions group.
His role? Providing tax, litigation and M&A risk solutions to corporate clients and private equity firms for their most challenging transactions.
Readers of the Corporate Deal Tracker will recognize Chenoweth’s name. He has handled tax matters on a lot of Gibson Dunn’s M&A and capital markets transactions in Texas and beyond. Before that, he was a partner of Baker Botts, where he began his career as an associate in 2005.
Five years ago, Chenoweth – along with six others – opened the Houston office of Gibson Dunn, which now has more than 50 lawyers.
The tax lawyer said last week that he missed the business development aspects of building the office as well as the office itself. He didn’t particularly enjoy working remotely during the Covid pandemic (in the garage apartment at his house). “I’m an extrovert,” he said.
Chenoweth started his work for Alliant last week by reaching out to law firms and accounting firms and, ultimately, their clients. He also intends to advise insurers that they can take on more risk.
“Anything that can be monetized, will be monetized,” Chenoweth said. “And esoteric tax and transactional M&A risks are no different.”
Rep and warranty insurance took a pause during the pandemic but picked up steam at the end of last year with the sheer quantity of deals, creating a severe supply-and-demand imbalance among all service providers, including insurers.
That environment, in turn, resulted in a rise in prices – and sometime extra fees and regulatory exclusions – for deal insurance, even if you could find a policy (especially non-serial buyers without existing carrier relationships).
Chenoweth sees that situation calming down somewhat, but he still sees the opportunities for risk insurance as great. “I look forward to working with … the rest of the Alliant team to assist in erasing legal uncertainties for our clients.”
There were nine Texas deals for $3.2 billion reported for the week ending May 28, all of them M&A. The deals involved the Texas offices of 11 different firms and 86 lawyers. That’s a drop from 14 deals worth $7.3 billion the week prior, and a plummet from the whopping 35 deals worth $20.3 billion this time last year (when the world was playing Catch-up from Covid).
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 | ||
---|---|---|---|---|---|---|---|---|
April 20, 2024 | 19 | $15,989 | 11 | 147 | 9 | $5,208 | 10 | $10,781 |
April 13, 2024 | 13 | $8,952 | 9 | 76 | 10 | $1,652 | 3 | $7,300 |
April 6, 2024 | 22 | $22,616 | 14 | 222 | 14 | $13,501 | 8 | $13,116 |
March 30, 2024 | 12 | $9,286 | 8 | 136 | 8 | $4,299 | 4 | $4,987 |
March 23, 2024 | 18 | $5,451 | 17 | 266 | 16 | $4,759 | 2 | $692 |
March 16, 2024 | 21 | $11,437 | 13 | 186 | 14 | $9,316 | 6 | $2,070 |
March 9, 2024 | 23 | $4,695 | 21 | 218 | 19 | $2,723 | 4 | $1,972 |
March 2, 2024 | 20 | $9,108 | 19 | 372 | 14 | $4,558 | 6 | $4,550 |
February 24, 2024 | 19 | $16,382 | 12 | 248 | 15 | $9,507 | 4 | $6,875 |
February 17, 2024 | 16 | $29,932 | 15 | 157 | 12 | $29,216 | 4 | $716 |
February 10, 2024 | 25 | $10,750 | 17 | 196 | 19 | $5,372 | 6 | $5,379 |
February 3, 2024 | 12 | $8,416 | 18 | 125 | 9 | $3,416 | 3 | $5,000 |
January 27, 2024 | 9 | $8,165 | 9 | 87 | 8 | $7,815 | 1 | $800 |
January 20, 2024 | 14 | $4,084 | 12 | 109 | 12 | $3,219 | 2 | $865 |
January 13, 2024 | 17 | $33,588 | 12 | 256 | 12 | $26,765 | 5 | $6,823 |
January 6, 2024 | 8 | $7,915 | 8 | 84 | 6 | $7,265 | 2 | $650 |
December 30, 2023 | 17 | $14,599 | 12 | 99 | 15 | $2,714 | 2 | $11,885 |
December 23, 2023 | 23 | $4,182 | 13 | 219 | 16 | $1,813 | 7 | $2,370 |
December 16, 2023 | 13 | $16,436 | 13 | 280 | 7 | $15,150 | 5 | $1,286 |
December 9, 2023 | 26 | $14,633.9 | 17 | 244 | 16 | $8,095 | 10 | $6,538.9 |
December 2, 2023 | 13 | $6,720 | 9 | 57 | 12 | $6,630 | 1 | $90 |
November 25, 2023 | 9 | $4,835 | 9 | 131 | 6 | $1,785 | 3 | $3,050 |
November 18, 2023 | 22 | $6,568.7 | 17 | 184 | 14 | $4,709.2 | 8 | $1,859.5 |
November 11, 2023 | 15 | $9,825 | 13 | 179 | 12 | $6,581 | 3 | $3,244 |
November 4, 2023 | 15 | $20,582.5 | 14 | 193 | 12 | $19,417.5 | 3 | $1,165 |
October 28, 2023 | 18 | $68,419.1 | 18 | 152 | 15 | $66,646 | 3 | $1,773.1 |
October 21, 2023 | 16 | $6,755.9 | 16 | 165 | 15 | $6,755.9 | 1 | $3 |
October 14, 2023 | 10 | $67,851.2 | 13 | 125 | 7 | $61,998.5 | 3 | $5,852.7 |
October 7, 2023 | 17 | $6,595.5 | 13 | 228 | 16 | $5,995.5 | 1 | $600 |
September 30, 2023 | 17 | $1,896.45 | 13 | 189 | 14 | $806.45 | 3 | $1,090 |
September 23, 2023 | 23 | $6,432.7 | 17 | 230 | 16 | $1,402.8 | 7 | $5,029.9 |
September 16, 2023 | 25 | $23,226.7 | 23 | 353 | 16 | $17,239 | 9 | $5,987.7 |
September 9, 2023 | 12 | $6,369 | 8 | 102 | 7 | $4,311 | 5 | $2,058 |
September 2, 2023 | 14 | $2,522 | 6 | 92 | 13 | $1,322 | 1 | $1,200 |
August 26, 2023 | 17 | $12,160.25 | 13 | 202 | 15 | $ 6,573.25 | 2 | $ 5,587.00 |
August 19, 2023 | 19 | $11,505 | 13 | 213 | 15 | $11,255 | 4 | $250 |
August 12, 2023 | 19 | $9,698.8 | 13 | 184 | 7 | $3,270 | 12 | $6,428.8 |
August 5, 2023 | 13 | $5,201 | 12 | 118 | 12 | $5,051 | 1 | $150 |
July 29, 2023 | 15 | $21,031.6 | 13 | 196 | 11 | $18,292.0 | 4 | $2,739.6 |
July 22, 2023 | 18 | $3,992 | 12 | 130 | 13 | $2,808 | 5 | $1,184 |
July 15, 2023 | 13 | $8,254.95 | 13 | 81 | 13 | $8,254.95 | 0 | 0 |
July 8, 2023 | 16 | $5,441.45 | 12 | 172 | 11 | $2,443 | 5 | $2,998.45 |
July 1, 2023 | 16 | $6,872 | 10 | 105 | 12 | $5,474 | 4 | $1,398 |
June 24, 2023 | 13 | $10,914 | 16 | 201 | 10 | $7,874 | 3 | $3,040 |
June 17, 2023 | 17 | $5,880.7 | 15 | 151 | 15 | $4,705.7 | 2 | $1,175 |
June 10, 2023 | 19 | $8,516.1 | 13 | 111 | 16 | $6,252.4 | 3 | $2,263.7 |
June 3 2023 | 12 | $6,104.42 | 12 | 138 | 8 | $4,256.92 | 4 | $1,847.5 |
May 27, 2023 | 17 | $12,200 | 10 | 67 | 11 | $6,165 | 6 | $6,035 |
May 20, 2023 | 11 | $22,458.1 | 8 | 103 | 4 | $19,455 | 7 | $3,003 |
May 13, 2023 | 12 | $7,034 | 10 | 101 | 8 | $5,460 | 4 | $1,574 |
May 6, 2023 | 20 | $3,297.6 | 18 | 196 | 17 | $2,985.6 | 3 | $312 |
April 29, 2023 | 23 | $3,691.2 | 18 | 135 | 17 | $1,969.7 | 6 | $1,721.5 |
April 22, 2023 | 16 | $5,570 | 14 | 104 | 14 | $4,750 | 2 | $1,000 |
April 15, 2023 | 12 | $23,818.1 | 9 | 59 | 10 | $21,618.1 | 2 | $2,200 |
April 8, 2023 | 16 | $7,949 | 9 | 173 | 9 | $5,472 | 7 | $3,477 |
April 1, 2023 | 21 | $18,676.7 | 12 | 175 | 11 | $10,926.7 | 10 | $7,750 |
March 25, 2023 | 15 | $8,779.5 | 10 | 141 | 5 | $2,362 | 10 | $6,416.5 |
March 18, 2023 | 7 | $14,048.8 | 6 | 69 | 5 | $13,345 | 2 | $703.8 |
March 11, 2023 | 21 | $11,576 | 16 | 165 | 16 | $8,131 | 5 | $3,445 |
March 4, 2023 | 20 | $9,668 | 11 | 228 | 16 | $8,209 | 4 | $1,459 |
February 25, 2023 | 13 | $5,335 | 13 | 130 | 12 | $4,235 | 1 | $1,200 |
February 18, 2023 | 14 | $5,743.7 | 13 | 158 | 8 | $898.7 | 6 | $4,845 |
February 11, 2023 | 16 | $12,088 | 12 | 137 | 12 | $9,965 | 4 | $2,123 |
February 4, 2023 | 17 | $8,066 | 15 | 140 | 13 | $5,614 | 4 | $2,452 |
January 28, 2023 | 7 | $2,180 | 7 | 75 | 5 | $1,692.75 | 2 | $488 |
January 21, 2023 | 17 | $5,768 | 16 | 174 | 12 | $1,918 | 5 | $3,850 |
January 14, 2023 | 11 | $2, 800 | 10 | 102 | 8 | $421 | 3 | $2,400 |
January 7, 2023 | 18 | $8,296 | 11 | 167 | 14 | $6,461 | 3 | $1,835 |
December 31, 2022 | 14 | $2,732 | 11 | 99 | 12 | $2,092 | 2 | $640 |
December 17 | 14 | $7,919 | 13 | 115 | 12 | $7,419 | 1 | $500 |
December 10, 2022 | 14 | $10,093 | 12 | 88 | 11 | $7,093 | 3 | $3,000 |
December 3, 2022 | 26 | $12,800.9 | 11 | 172 | 20 | $4,141 | 6 | $8,659.9 |
November 26, 2022 | 8 | $2,266.7 | 8 | 5 | 3 | $76 | 5 | $2,190.7 |
November 19, 2022 | 21 | $2,886 | 15 | 212 | 19 | $2,550 | 2 | $336 |
November 12, 2022 | 13 | $15,093.7 | 9 | 81 | 9 | $14,200 | 4 | $893.7 |
November 5, 2022 | 25 | 19,337.2 | 16 | 509 | 22 | $8,267.2 | 3 | $11,070 |
October 29, 2022 | 15 | $7,805.3 | 9 | 116 | 14 | $7,180.3 | 1 | $625 |
October 22, 2022 | 20 | $8,193.5 | 13 | 253 | 13 | $5,442 | 7 | $2,751.5 |
October 15, 2022 | 9 | $3,046.1 | 9 | 139 | 7 | $2,588.3 | 2 | $457.8 |
October 8, 2022 | 19 | $2,011.8 | 12 | 114 | 16 | $833.8 | 3 | $1,178 |
October 1, 2022 | 23 | $5,532.9 | 16 | 156 | 18 | $4,952.3 | 5 | $580.6 |
September 24, 2022 | 18 | $5,194 | 14 | 216 | 15 | $4,050 | 3 | $1,144 |
September 17, 2022 | 21 | $8,352.3 | 12 | 320 | 15 | $4,759.6 | 6 | $3,592.7 |
September 10, 2022 | 15 | $19,853.5 | 10 | 126 | 13 | $19,403.6 | 2 | $450 |
September 3, 2022 | 9 | $2,312 | 9 | 62 | 9 | $2,312 | 0 | 0 |
August 27, 2022 | 16 | $30,891.7 | 10 | 135 | 15 | $30,666.4 | 1 | 227.7 |
August 20, 2022 | 12 | $1,977 | 8 | 152 | 9 | 925 | 3 | $1,052 |
August 13, 2022 | 18 | $8,004.7 | 11 | 242 | 11 | $2,844.7 | 7 | $5,160 |
August 6, 2022 | 24 | $7,948.9 | 12 | 240 | 17 | $3,577 | 7 | $4,371.9 |
July 30, 2022 | 8 | $6,941 | 9 | 78 | 7 | $6,839 | 1 | $102 |
July 23, 2022 | 11 | $801 | 11 | 92 | 10 | $801 | 1 | 0 |
July 16, 2022 | 14 | $3,650 | 10 | 122 | 14 | $3,650 | 0 | 0 |
July 9, 2022 | 10 | $3,557.7 | 7 | 68 | 9 | $3,557.7 | 1 | 0 |
July 2, 2022 | 18 | $8,609.4 | 13 | 152 | 15 | $2,754.4 | 3 | $5,855 |
June 25, 2022 | 15 | $6,142 | 13 | 146 | 9 | $2,017 | 6 | $4,125 |
June 18, 2022 | 17 | $11,890.1 | 14 | 228 | 15 | $11,410 | 2 | 479.7 |
June 11, 2022 | 17 | $7,600 | 12 | 123 | 10 | $2,300 | 7 | $5,300 |
June 4, 2022 | 12 | $2,937 | 10 | 127 | 9 | $692 | 3 | $2,245 |
May 28, 2022 | 9 | $3,197.6 | 11 | 86 | 9 | $3,197.6 | 0 | 0 |
May 21, 2022 | 14 | $7,284.5 | 12 | 185 | 11 | $6,609 | 3 | $675.5 |
May 14, 2022 | 11 | $306.6 | 9 | 80 | 10 | $306.6 | 1 | $225 |
May 7, 2022 | 16 | $10,451.75 | 12 | 108 | 12 | $1,827 | 4 | $8,624.75 |
April 30, 2022 | 16 | $2,296.5 | 16 | 157 | 12 | $895.5 | 4 | $1,401 |
April 23, 2022 | 10 | $2,241 | 11 | 58 | 8 | $1641 | 2 | $600 |
April 16, 2022 | 11 | $6,643 | 7 | 156 | 8 | $2,359 | 3 | $4,284 |
April 9, 2022 | 17 | $4,429 | 14 | 184 | 11 | $1,690 | 6 | $2,739 |
April 2, 2022 | 13 | $1,755 | 8 | 84 | 10 | $1,145 | 3 | $610 |
March 26, 2022 | 11 | $3,205 | 8 | 65 | 6 | $200 | 5 | $3,005 |
March 19, 2022 | 13 | $2,239.17 | 9 | 106 | 13 | $2,239.17 | 0 | 0 |
March 12, 2022 | 18 | $12,016 | 11 | 239 | 15 | $11,965 | 2 | $51.35 |
March 5, 2022 | 17 | $6,786 | 13 | 137 | 13 | $5,161 | 4 | $1,625 |
February 26, 2022 | 12 | $5,095 | 8 | 149 | 9 | $4,437.5 | 3 | $658 |
February 19, 2022 | 17 | $22,229 | 17 | 174 | 14 | $21,354 | 3 | $875 |
February 12, 2022 | 12 | $2,344.7 | 10 | 73 | 8 | $641.7 | 4 | $1,703 |
February 5, 2022 | 11 | $2,503 | 8 | 99 | 11 | $2,503 | 0 | 0 |
January 29, 2022 | 11 | $3,872 | 12 | 101 | 12 | $3,872 | 0 | 0 |
January 22, 2022 | 13 | $5,143.5 | 10 | 99 | 12 | $4,842.5 | 1 | $301 |
January 15, 2022 | 12 | $7,605 | 9 | 155 | 9 | $6,480 | 3 | $1,025 |
January 8, 2022 | 13 | $8,256.2 | 11 | 102 | 13 | $8,256.2 | 0 | 0 |
January 1, 2022 | 9 | $1,273.8 | 6 | 50 | 9 | $1,273.8 | 0 | 0 |
December 25, 2021 | 21 | $4,734.75 | 11 | 176 | 16 | $3,410 | 5 | $1,324.75 |
December 18, 2021 | 26 | $7,325.2 | 15 | 193 | 18 | $3,640.2 | 8 | $3,685.2 |
December 11, 2021 | 16 | $5,017 | 10 | 109 | 13 | $1,417 | 3 | $3,600 |
December 4, 2021 | 14 | $2,310 | 8 | 86 | 8 | $2,310 | 6 | $1,882.05 |
November 27, 2021 | 9 | $3.460.1 | 10 | 101 | 6 | $1,758 | 3 | $1,702.6 |
November 20, 2021 | 20 | $22,792 | 15 | 157 | 12 | $18,864.5 | 8 | $3,928 |
November 13, 2021 | 21 | $26,729 | 12 | 178 | 13 | $11,822 | 8 | $14,907 |
November 6, 2021 | 12 | $8,303 | 13 | 157 | 10 | $6,682 | 3 | $1,621 |
October 30, 2021 | 21 | $10,368 | 15 | 218 | 15 | $9,24.4 | 6 | $1,103. |
October 23, 2021 | 21 | $18.783.1 | 15 | 222 | 11 | $12,314 | 10 | $6,468.6 |
October 16, 2021 | 15 | $3,868 | 11 | 118 | 15 | $2,293 | 2 | $1,575 |
October 9, 2021 | 20 | $8,610 | 16 | 175 | 16 | $7,795 | 4 | $815 |
October 2, 2021 | 14 | $6,250 | 11 | 137 | 10 | $5,200 | 4 | $1,050 |
September 25, 2021 | 11 | $11,460 | 9 | 93 | 7 | $10,200 | 4 | $1,250 |
September 18, 2021 | 11 | $16,603 | 8 | 99 | 8 | $15,084 | 3 | $1,519 |
September 11, 2021 | 17 | $10,653 | 11 | 103 | 13 | $8,503 | 4 | $2,150 |
September 4, 2021 | 13 | $7,222 | 10 | 89 | 11 | $6,715 | 2 | $507 |
August 28, 2021 | 12 | $763 | 9 | 63 | 11 | $663 | 1 | $100 |
August 21, 2021 | 12 | $29,659 | 7 | 79 | 11 | $29,579 | 1 | $80 |
August 14, 2021 | 22 | $17,845 | 11 | 199 | 12 | $12,805 | 10 | $5,04 |
August 7, 2021 | 17 | $13,670 | 12 | 139 | 15 | $11,766 | 2 | $1,904 |
July 31, 2021 | 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 |
July 17, 2021 | 14 | $4,009 | 11 | 124 | 12 | $2,015 | 2 | $1,994 |
July 10, 2021 | 16 | $3,997 | 13 | 143 | 11 | $1,597 | 4 | $2,4 |
July 3, 2021 | 24 | $7,492 | 13 | 94 | 16 | $3,769 | 8 | $3,722 |
June 26, 2021 | 10 | $4,995 | 7 | 85 | 8 | $3,847 | 2 | $1,148 |
June 19, 2021 | 28 | $16,830 | 8 | 228 | 9 | $1,861 | 19 | $14,968 |
June 12, 2021 | 26 | $27,238 | 15 | 209 | 19 | $25,602 | 7 | $1,636 |
June 5, 2021 | 15 | $15,539 | 13 | 100 | 13 | $14,709 | 2 | $600 |
May 29, 2021 | 35 | $20,279 | 11 | 145 | 28 | $18,64 | 7 | $1,639 |
May 22, 2021 | 24 | $53,208 | 14 | 174 | 17 | $51,047 | 7 | $2,161 |
May 15, 2021 | 18 | $10,620 | 13 | 220 | 11 | $5,870 | 7 | $4,809 |
May 8, 2021 | 17 | $10,400 | 11 | 156 | 15 | $8,386 | 2 | $2,500 |
May 1, 2021 | 21 | $7,200 | 16 | 115 | 12 | $3,808 | 9 | $3,392 |
April 24, 2021 | 8 | $20,200 | 9 | 31 | 8 | $20,200 | 0 | 0 |
April 17, 2021 | 14 | $6,270 | 8 | 102 | 11 | $4,0180 | 3 | $2,260 |
April 10, 2021 | 15 | $8,940 | 13 | 129 | 14 | $7,990 | 1 | $950 |
April 3, 2021 | 18 | $19,513 | 10 | 151 | 12 | $16,923 | 6 | $2,590 |
March 27, 2021 | 27 | $13,942 | 15 | 244 | 14 | $4,300 | 13 | $9,633.5 |
March 20, 2021 | 11 | $2,046 | 4 | 102 | 3 | $270 | 8 | $1,776 |
March 13, 2021 | 15 | $3,270 | 9 | 109 | 6 | $538 | 9 | $2,732 |
March 6, 2021 | 24 | $13,617 | 10 | 196 | 13 | $10,395 | 11 | $3,222 |
February 27, 2021 | 19 | $8,105 | 12 | 139 | 15 | $4,970 | 4 | $3,135 |
February 20, 2021 | 9 | $8,820 | 9 | 153 | 8 | $8,520 | 1 | $300 |
February 13, 2021 | 12 | $4,852.6 | 7 | 81 | 7 | 2,766 | 5 | $2,086.6 |
February 6, 2021 | 18 | $9,752 | 13 | 153 | 14 | $5,222 | 4 | $4,530 |
January 30, 2021 | 18 | $9,449 | 9 | 182 | 15 | $8753.8 | 3 | $695.3 |
January 23, 2021 | 14 | $8,150 | 8 | 118 | 6 | $4,000 | 8 | $4,150 |
January 16, 2021 | 17 | $6,783 | 13 | 138 | 11 | $2,400 | 6 | $4,382.9 |
January 9, 2021 | 22 | $6,829 | 14 | 135 | 18 | $3,139.3 | 4 | $3,690 |
January 2, 2021 | 7 | $1,466 | 7 | 60 | 7 | $1,466 | 0 | 0 |
December 26, 2020 | 18 | $15,900 | 12 | 163 | 16 | $5,300 | 1 | $600 |
December 19, 2020 | 18 | $9,769 | 14 | 110 | 14 | $8,426 | 4 | $1,343 |
December 12, 2020 | 10 | $7,200 | 9 | 100 | 9 | $3,325 | 1 | $3,830 |
December 5, 2020 | 15 | $4,261 | 9 | 122 | 9 | $2,780 | 6 | $1,481 |
November 28, 2020 | 19 | $7,758 | 10 | 110 | 13 | $4,003 | 6 | $3,755 |
November 14, 2020 | 14 | $864.1 | 14 | 157 | 12 | $289.1 | 2 | $575 |
November 7, 2020 | 13 | $6,332 | 9 | 129 | 9 | $2,483.5 | 4 | $3,849 |
October 31, 2020 | 10 | $3,995.8 | 8 | 103 | 6 | $3,231.1 | 4 | $754.7 |
October 24, 2020 | 6 | $18,100 | 6 | 58 | 5 | $17,709 | 1 | $350 |
October 17, 2020 | 8 | $351.9 | 5 | 55 | 8 | $351.9 | 0 | 0 |
October 10, 2020 | 7 | $5,229 | 3 | 50 | 4 | $735 | 3 | $4,494 |
October 3, 2020 | 14 | $21,428 | 9 | 173 | 9 | $17,535 | 5 | $3,893 |
September 26, 2020 | 10 | $12,770 | 8 | 93 | 5 | $10,300 | 5 | $2,470 |
September 19, 2020 | 14 | $8,365 | 9 | 101 | 6 | $1,020 | 8 | $7,345 |
September 12, 2020 | 6 | $4,406 | 8 | 59 | 3 | $1,270 | 3 | $3,136 |
September 5, 2020 | 11 | $5,191 | 8 | 117 | 9 | $4,061 | 2 | $1,130 |
August 29, 2020 | 11 | $2,531 | 9 | 94 | 5 | $1,130 | 6 | $1,401 |
August 22, 2020 | 18 | $6,574 | 12 | 140 | 7 | $1,930 | 11 | $4,644 |
August 15, 2020 | 13 | $4,991 | 10 | 97 | 7 | $1,216 | 6 | $3,775 |
August 8, 2020 | 12 | $32,092 | 11 | 112 | 9 | $30,457 | 3 | $1,635 |
August 1, 2020 | 7 | $5,287 | 8 | 76 | 5 | $3,687 | 2 | $1,600 |
July 25, 2020 | 9 | $18,751 | 6 | 67 | 7 | $18,403 | 2 | $348 |
July 18, 2020 | 6 | $1,982.5 | 5 | 50 | 4 | $1,407.5 | 2 | $575 |
July 11, 2020 | 11 | $565.1 | 12 | 75 | 10 | $65.1 | 1 | $500 |
July 4, 2020 | 10 | $8,889 | 8 | 98 | 9 | $8,788 | 1 | $100.3 |
June 27, 2020 | 8 | $6,874 | 10 | 50 | 5 | $4,972.5 | 3 | $2,081.5 |
June 20, 2020 | 12 | $4,444 | 9 | 115 | 7 | $2,829 | 5 | $1,615 |
June 13, 2020 | 6 | $3,582 | 4 | 37 | 2 | $350 | 4 | $3,232 |
June 6, 2020 | 11 | $3,213.7 | 8 | 65 | 7 | $470 | 4 | $2,743.7 |
May 30, 2020 | 8 | $7,335 | 7 | 48 | 6 | $4,639 | 2 | $2,697 |
May 23, 2020 | 4 | $432.4 | 4 | 34 | 3 | $432.4 | 1 | 0 |
May 16, 2020 | 6 | $310 | 6 | 34 | 5 | $310 | 1 | 0 |
May 9, 2020 | 18 | $5,630 | 16 | 124 | 14 | $3,180 | 4 | $2,450 |
May 2, 2020 | 15 | 10,400 | 10 | 90 | 8 | $1,900 | 7 | $,8,500 |
April 25, 2020 | 8 | $3,400 | 9 | 36 | 5 | $1,000 | 3 | $2,450 |
April 18, 2020 | 19 | $9,500 | 14 | 92 | 8 | $185.7 | 11 | $9,360 |
April 11, 2020 | 12 | $6,000 | 9 | 40 | 5 | $190 | 7 | $5,800 |
April 4, 2020 | 14 | $8,200 | 11 | 68 | 10 | $2,200 | 4 | $6,000 |
March 28, 2020 | 16 | $6,500 | 13 | 96 | 10 | $3,700 | 6 | $2,800 |
March 21, 2020 | 11 | $11,910 | 7 | 33 | 7 | $2,250 | 4 | $9,960 |
March 14, 2020 | 7 | 809.8 | 6 | 34 | 6 | 684.8 | 1 | 125 |
March 7, 2020 | 16 | $2,500 | 15 | 70 | 13 | $669 | 3 | $1,400 |
February 29, 2020 | 13 | $15,260 | 13 | 128 | 11 | $11,760 | 2 | $3,500 |
February 22, 2020 | 12 | $3,700 | 10 | 92 | 10 | $2,560 | 2 | $1,130 |
February 15, 2020 | 16 | $1,250 | 10 | 84 | 12 | $35 | 4 | $1,222 |
February 8, 2020 | 18 | $6,080 | 14 | 123 | 14 | $2,595 | 4 | $3,485 |
February 1, 2020 | 21 | $20,900 | 12 | 101 | 14 | $17,860 | 7 | $3,060 |
January 25, 2020 | 13 | $7,430 | 13 | 62 | 12 | $6,430 | 1 | $1,000 |
January 18, 2020 | 23 | $9,580 | 15 | 120 | 19 | $6,580 | 4 | $3,000 |
January 11, 2020 | 21 | $14,200 | 18 | 199 | 16 | $1,020 | 5 | $13,200 |
January 4, 2020 | 22 | $6,400 | 11 | 119 | 16 | $3,204 | 6 | $3,245 |
December 28, 2019 | 22 | $7,150 | 19 | 175 | 18 | $6,800 | 4 | $327.4 |
December 14, 2019 | 24 | $36,300 | 23 | 167 | 19 | $9,500 | 5 | $26,800 |
December 7, 2019 | 11 | $10,400 | 11 | 55 | 7 | $1,082 | 4 | $9,370 |
November 30. 2019 | 14 | $2,450 | 12 | 126 | 12 | $1,760 | 2 | $692.5 |
November 23, 2019 | 16 | $1,995 | 10 | 41 | 11 | $615 | 5 | $1,380 |
November 16, 2019 | 15 | $3,820 | 13 | 135 | 11 | $2,500 | 4 | $1,271 |
November 9, 2019 | 25 | $12,900 | 17 | 182 | 23 | $12,200 | 2 | $575 |
November 2, 2019 | 10 | $2,470 | 12 | 61 | 9 | 2,450 | 3 | $22 |
October 26, 2019 | 12 | $5,560 | 14 | 70 | 11 | $3,860 | 1 | $1,700 |
October 19, 2019 | 8 | $6,600 | 8 | 138 | 8 | $6,600 | 0 | 0 |
October 12, 2019 | 19 | $4,300 | 14 | 55 | 16 | $3,800 | 3 | $500 |
October 5, 2019 | 18 | $14,500 | 19 | 166 | 15 | $11,100 | 3 | $3,400 |
September 28, 2019 | 19 | $8,100 | 18 | 132 | 18 | $7,560 | 1 | $550 |
September 21, 2019 | 14 | $6,300 | 16 | 66 | 11 | $2,160 | 3 | $4,170 |
September 14, 2019 | 15 | $23,800 | 12 | 56 | 11 | $21,250 | 4 | $2,570 |
September 7, 2019 | 17 | $3,500 | 15 | 98 | 14 | $1,900 | 3 | $1,600 |
August 31, 2019 | 5 | $8,700 | 6 | 50 | 5 | $8,700 | 0 | 0 |
August 24, 2019 | 16 | $10,000 | 14 | 82 | 15 | $4,250 | 1 | $5,750 |
August 16, 2019 | 10 | $1,680 | 5 | 52 | 7 | $650 | 3 | $950 |
August 9, 2019 | 17 | $17,700 | 15 | 68 | 14 | $3,900 | 3 | $13,800 |
August 2, 2019 | 13 | $5,760 | 12 | 108 | 13 | $5,760 | NA | NA |
July 27, 2019 | 11 | $7,300 | 13 | 76 | 8 | $6,570 | 3 | $730 |
July 20, 2019 | 13 | $11,800 | 13 | 125 | 11 | $5,300 | 2 | $6,500 |
July 13, 2019 | 10 | $775 | 7 | 46 | 8 | $542.5 | 2 | $233 |
July 6, 2019 | 7 | $2,500 | 9 | 85 | 7 | $2,500 | 0 | 0 |
June 29, 2019 | 23 | $8,290 | 15 | 154 | 17 | $2,300 | 6 | $5,970 |
June 22, 2019 | 17 | $10,700 | 10 | 139 | 14 | $7,700 | 3 | $3,000 |
June 15, 2019 | 11 | $13,500 | 14 | 160 | 11 | $13,500 | NA | NA |
June 8, 2019 | 13 | $2,870 | 17 | 55 | 11 | $1,570 | 2 | $1,300 |
June 1, 2019 | 10 | $4,460 | 11 | 60 | 8 | $4,140 | 2 | $315 |
May 25, 2019 | 17 | $4,360 | 14 | 79 | 14 | $3,700 | 3 | $612 |
May 18, 2019 | 22 | $9,000 | 17 | 150 | 16 | $3,400 | 6 | $5,600 |
May 11, 2019 | 18 | $19,800 | 17 | 177 | 15 | $18,300 | 3 | $1,500 |
May 4, 2019 | 10 | $7,075 | 6 | 32 | 8 | $6,900 | 2 | $175 |
April 27, 2019 | 15 | $3,200 | 14 | 117 | 14 | $3,160 | 1 | $40 |
April 20, 2019 | 13 | $13,500 | 10 | 90 | 9 | $12,200 | 4 | $1,300 |
April 13, 2019 | 16 | $38,900 | 14 | 91 | 14 | $37,800 | 2 | $1,100 |
April 6, 2019 | 12 | $6,870 | 11 | 94 | 10 | $6,730 | 2 | $50 |
March 30, 2019 | 15 | $6,470 | 12 | 84 | 10 | $7,91.5 | 5 | $5,677 |
March 23, 2019 | 18 | $6,450 | 14 | 91 | 14 | $5,042 | 4 | $1,408 |
March 16, 2019 | 14 | $10,180 | 12 | 115 | 11 | $8,800 | 3 | $1,300 |
March 9, 2019 | 9 | $1,800 | 6 | 49 | 8 | $1,300 | 1 | $500 |
March 2, 2019 | 20 | $3,033 | 16 | 107 | 14 | $1,817 | 6 | $1,262 |
February 23, 2019 | 12 | $2,040 | 8 | 69 | 9 | $614.6 | 3 | $1,430 |
February 16, 2019 | 16 | $9,970 | 18 | 77 | 16 | $9,970 | 0 | 0 |
February 9, 2019 | 14 | $6,400 | 10 | 110 | 14 | $6,400 | 0 | 0 |
February 2, 2019 | 18 | $6,740 | 15 | 99 | 16 | $5,720 | 2 | $950 |
January 26, 2019 | 13 | $2,770 | 11 | 67 | 11 | $918.95 | 2 | $1,850 |
January 19, 2019 | 15 | $3,819 | 16 | 76 | 12 | $2,594 | 3 | $1,225 |
January 12, 2019 | 18 | $7,283 | 14 | 92 | 15 | $1,683 | 3 | $5,600 |
January 5, 2019 | 10 | $529 | 12 | 50 | 10 | $529 | 0 | 0 |
December 22, 2018 | 17 | $2,570 | 13 | 87 | 14 | $941 | 3 | $1,629 |
December 15, 2018 | 10 | $2,860 | 8 | 26 | 8 | $264 | 2 | $2,600 |
December 8, 2018 | 15 | $1,819 | 16 | 65 | 12 | $552 | 3 | $1,267 |
December 1, 2018 | 12 | $7,500 | 10 | 90 | 9 | $1,200 | 3 | $6,200 |
November 28, 2018 | 15 | $4,500 | 11 | 107 | 14 | $4,000 | 1 | $500 |
November 19, 2018 | 18 | $6,137 | 13 | 98 | 13 | $2,142 | 5 | $3,995 |
November 14, 2018 | 18 | $9,200 | 13 | 152 | 15 | $8,500 | 3 | $694 |
November 6, 2018 | 16 | $17,300 | 16 | 183 | 14 | $16,361 | 2 | $950 |
October 29, 2018 | 14 | $14,400 | 18 | 127 | 17 | $13,800 | 1 | $600 |
October 24, 2018 | 13 | $6,140 | 13 | 126 | 11 | $5,122 | 2 | $1,018 |
October 17, 2018 | 18 | $18,390 | 15 | 125 | 14 | $12,292 | 4 | $6,098 |
October 10, 2018 | 29 | $3,149 | 18 | 104 | 20 | $1,647 | 9 | $819 |
October 2, 2018 | 18 | $9,300 | 11 | 67 | 14 | $7,300 | 4 | $2,000 |
September 25, 2018 | 13 | $7,000 | 11 | 75 | 10 | $6,000 | 3 | $995 |
September 18, 2018 | 9 | $3,570 | 7 | 44 | 9 | $3,570 | 0 | 0 |
September 11, 2018 | 13 | $5,900 | 10 | 132 | 13 | $5,900 | 0 | 0 |
September 7, 2018 | 14 | $5,000 | 15 | 86 | 11 | $4,000 | 3 | $1,000 |
August 29, 2018 | 15 | $20,700 | 14 | 79 | 13 | $4,700 | 2 | $16,000 |
August 20, 2018 | 10 | $12,400 | 11 | 53 | 8 | $11,380 | 3 | $1,057 |
August 14, 2018 | 12 | $19,900 | 12 | 132 | 9 | $18,889 | 3 | $1,011 |
August 7, 2018 | 16 | $68,600 | 11 | 106 | 13 | $67,259 | 3 | $1,340 |
July 31, 2018 | 15 | $15,100 | 15 | 95 | 11 | $13,060 | 4 | $2,060 |
July 23, 2018 | 13 | $2,130 | 15 | 60 | 10 | $1,804 | 3 | $1,100 |
July 17, 2018 | 14 | $5,370 | 17 | 98 | 9 | $4,310 | 5 | $1,100 |
July 9, 2018 | 16 | $11,200 | 15 | 74 | 10 | $11,080 | 6 | $862 |
July 3, 2018 | 13 | $7,000 | 7 | 81 | 12 | $6,330 | 1 | $750 |
June 25, 2018 | 15 | $8,800 | 13 | 97 | 9 | $4,970 | 6 | $3,930 |
June 18, 2018 | 13 | $14,200 | 14 | 80 | 7 | $221 | 6 | $14,290 |
June 11, 2018 | 12 | $6,300 | 8 | 96 | 8 | $5,910 | 4 | $803 |
June 6, 2018 | 13 | $14,500 | 10 | 88 | 8 | $14,154 | 5 | $579 |
May 31, 2018 | 11 | $4,890 | 10 | 63 | 8 | $3,240 | 3 | $1,790 |
May 22, 2018 | 15 | $20,400 | 11 | 63 | 9 | $19,808 | 6 | $885 |
May 15, 2018 | 15 | $4,700 | 15 | 106 | 10 | $3,900 | 5 | $643 |
May 9, 2018 | 11 | $1,400 | 13 | 88 | 9 | $1,300 | 2 | $560 |
May 1, 2018 | 8 | $14,250 | 7 | 88 | 7 | $13,400 | 1 | $450 |
April 24, 2018 | 12 | $5,300 | 6 | 61 | 11 | $4,470 | 1 | $800 |
April 17, 2018 | 9 | $1,800 | 10 | 44 | 7 | $2,330 | 2 | $1,434 |
April 11, 2018 | 11 | $2,500 | 8 | 32 | 6 | $1,690 | 5 | $809 |
April 3, 2018 | 15 | $13,400 | 11 | 121 | 9 | $12,020 | 6 | $1,090 |
March 28, 2018 | 10 | $4,000 | 10 | 92 | 7 | $3,870 | 3 | $215 |
March 19, 2018 | 17 | $5,800 | 13 | 51 | 10 | $590 | 7 | $5,165 |
March 12, 2018 | 15 | $3,130 | 11 | 43 | 11 | $2,360 | 4 | $788 |
March 6, 2018 | 19 | $5,400 | 13 | 116 | 10 | $1,530 | 9 | $4,860 |
February 27, 2018 | 20 | $6,600 | 13 | 69 | 14 | $5,530 | 6 | $1,030 |
February 19, 2018 | 15 | $5,500 | 14 | 111 | 10 | $3,990 | 6 | $1,980 |
February 12, 2018 | 23 | $10,900 | 17 | 157 | 12 | $7,110 | 11 | $3,840 |
February 5, 2018 | 16 | $8,600 | 13 | 100 | 7 | $1,330 | 9 | $7,800 |
January 30, 2018 | 11 | $12,600 | 11 | 68 | 5 | $7,300 | 6 | $4,982 |
January 24, 2018 | 19 | $9,400 | 15 | 129 | 5 | $2,010 | 14 | $7,337 |
January 18, 2018 | 10 | $6,280 | 8 | 49 | 2 | $2,100 | 8 | $4,188 |
January 9, 2018 | 12 | $16,500 | 12 | 92 | 9 | $15,890 | 3 | $475 |
January 3, 2018 | 10 | $2,500 | 9 | 47 | 8 | $2,350 | 2 | $150 |
December 27, 2017 | 15 | $9,000 | 15 | 113 | 9 | $7,568 | 6 | $1,784 |
December 18, 2017 | 15 | $13,800 | 16 | 164 | 9 | $13,010 | 7 | $1,118 |
December 11, 2017 | 14 | $9,700 | 10 | 126 | 12 | $2,940 | 4 | $8,500 |
December 4, 2017 | 6 | $1,800 | 6 | 31 | 5 | $1,510 | 1 | $300 |
November 28, 2017 | 7 | $3,850 | 8 | 76 | 4 | $3,260 | 3 | $285 |
November 16, 2017 | 10 | $2,700 | 10 | 48 | 6 | $1,840 | 4 | $856 |
November 8, 2017 | 15 | $2,380 | 17 | 91 | 10 | $1,860 | 5 | $516 |
November 1, 2017 | 12 | $4,700 | 17 | 94 | 9 | $3,400 | 4 | $1,300 |
October 23, 2017 | 15 | $10,500 | 10 | 67 | 10 | $9,780 | 4 | $1,530 |
October 18, 2017 | 6 | $2,000 | 37 | 3 | $225 | 3 | $1,820 | |
October 10, 2017 | 12 | $6,570 | 100 | 9 | $3,880 | 3 | $3,360 | |
October 2, 2017 | 8 | $3,100 | 11 | 19 | 3 | $1,630 | 5 | $1,750 |
September 25, 2017 | 8 | $4,880 | 8 | 79 | 5 | $2,660 | 5 | $2,070 |
September 18, 2017 | 9 | $4,770 | 3 | $300 | 6 | $4,470 | ||
September 12, 2017 | 11 | $4,430 | 8 | $2,030 | 3 | $2,400 | ||
September 1, 2017 | 4 | $1,310 | 3 | $317 | 1 | $1,000 | ||
August 23, 2017 | 11 | $13,640 | 9 | 8 | $11,840 | 3 | $1,800 |
M&A/FUNDINGS
TotalEnergies Buys Half of GIP’s stake in Clearway for $1.6B
Deal Description: TotalEnergies announced May 25 that it agreed to acquire half of Global Infrastructure Partners’ stake in Clearway Energy Group, the fifth largest renewable energy player in the U.S. GIP will receive $1.6 billion in cash and about half of the TotalEnergies unit that holds its 50.6 percent ownership in SunPower Corp., a publicly traded leader in U.S. residential solar markets. For more on the transaction, click here.
Crestwood enters into transactions worth $1.195B
Deal Description: Crestwood Equity Partners announced May 25 that it will acquire Sendero Midstream Partners for $600 million in cash and First Reserve’s 50 percent equity interest in Crestwood Permian Basin Holdings for $320 million in Crestwood common units plus the assumption of asset level debt. Crestwood also agreed to sell its non-core Barnett Shale assets to EnLink Midstream for $275 million in cash. The divestiture includes the Alliance System, the Lake Arlington System and the Cowtown System, representing a full exit from the Barnett Shale.
Expected Closing: Early in the third quarter
Crestwood’s Outside Counsel on the purchases: Vinson & Elkins led by partner Gillian Hobson and counsel Daniel McEntee with assistance from associates Carli Gish, Tushar Parashar, Shane Copelin and Jake Lubenow. Other key team members include partners Ryan Carney and Jason McIntosh, senior associate Peter Rogers and associates Dan Henderson and Fariha Jawed (tax); partner Sean Becker (employment/labor); partner Shane Tucker and associate Matt Green (executive compensation/benefits); partner Hill Wellford, senior associate Ryan Will and associate Rami Rashmawi (HSR); partner Matt Dobbins and associate Simon Willis (environmental); counsel Scot Dixon (real estate); partner Sarah Mitchell and associates Victoria Bahrami-Negad and Alex Turner (insurance); partner Darin Schultz and counsel Caitlin Lawrence (finance); and counsel Rajesh Patel (technology transactions/IP).
Crestwood’s Outside Counsel on the divestiture: A Locke Lord team led by Lauren Corbeil Clarke and Bill Swanstrom in Houston with assistance from Van Jolas in Dallas and Ben Cowan, Eric Larson, Sara Longtain, Ed Razim, Hunter Summerford, Michelle Gutierrez-Begin and Kenton Wilson, all of Houston.
Crestwood’s Financial Advisors: RBC Capital Markets and Citi
Sendero’s Financial Advisor: : Morgan Stanley & Co.
Sendero’s Outside Counsel: Latham & Watkins
First Reserve’s Outside Counsel: Simpson Thacher & Bartlett led by M&A partner Christopher May and associate Michael Spirtos in Houston
EnLink’s Outside Counsel: Baker Botts advised Enlink with a team led from Dallas by partner Preston Bernhisel , Nic O’Brien (senior associate) and Victor Ochieng (associate); on tax matters Steve Marcus (partner) and Jordan Hahn (senior associate) advised; partner Scott Janoe and associate Hannah Roskey handled environmental issues, and Thomas Fina (partner and Michael Bodosky (special counsel) advised on antitrust issues.
EnLink’s in-house counsel: Sarah Rechter, Deputy General Counsel
Compass Group Equity closes second fund at $255M
Deal Description: Compass Group Equity Partners, a St. Louis-based private equity firm, announced May 3 the closing of Compass Group Fund II at its hard cap of $255 million, exceeding an original target of $200 million. The firm secured commitments from university endowments, family offices, pension funds, insurance companies, funds of funds and other institutional and high-net-worth investors. The fundraising process took just over six months to complete. Compass focuses on the niche manufacturing and distribution and business and consumer services sectors. The firm deployed capital from the fund through its acquisition of KGM, a Tulsa-based distributor and servicer of meters, regulators, valves and other measuring and flow-control equipment to utilities and municipalities nationwide. Terms weren’t disclosed.
Compass‘ Outside Counsel: McGuireWoods revealed its involvement May 25 led by Dallas partner Kevin Boardman with support by Dallas associates Brian Robertson and Gerard Faulkner; the Maples Group also advised
Compass‘ Placement Agent: Aqueduct Capital Group
The Fund’s Administrator: E78 Fund Solutions
The Fund’s Independent Auditor: BDO
Höegh LNG Holdings Ltd. to acquire Höegh LNG Partners for $167.6M
Deal Description: Höegh LNG Holdings Ltd. announced May 25 it agreed with Höegh LNG Partners to acquire all of the outstanding publicly held common units of the partnership at $9.25 per common unit in cash, or about $167.6 million. The revised price represents an increase of $5 when compared with the offer of $4.25 per common unit made by Höegh LNG on Dec. 3, a 35 percent premium over the closing price of the partnership’s common units on May 24 and a 39.2 percent premium over the volume weighted average price of its common units for the 30-trading day period ended May 24. The partnership’s incentive distribution rights will be cancelled but the Series A preferred units will remain outstanding.
Expected Closing: Second half of 2022
Höegh LNG Holdings’ Financial Advisors: Credit Suisse International (Jonathan Lurvey) and Morgan Stanley (Tony Uccellini)
Höegh LNG Holdings’ Outside Counsel: Kirkland & Ellis led by corporate partners Sean Wheeler and Enoch Varner in Houston and Stuart Boyd in London. Other Texas team members included tax partners David Wheat and William Dong, executive compensation partner Rob Fowler, debt finance partners Mary Kogut and Shan Khan, capital markets partners Matthew Turner, environmental transactions partners Paul Tanaka and James Dolphin III; and corporate associates Tori Newton, James Long, Carter Johnston, Neeloy Azad, Patrick Corrigan and Nnamdi Ezenwa, capital markets associate Colton Lyons, tax associate Griffin Peeples.
Conflicts Committee’s Financial Advisor: Evercore (Mark Friedman)
Conflicts Committee’s Outside Counsel: Richards, Layton & Finger
Höegh LNG Partners‘ Outside Counsel: Baker Botts led out of Washington, D.C., and New York but including tax partner Jon Lobb and litigation partner David Sterling in Houston
Great Elm buys IMA for Monomoy Properties REIT from Imperial for $10M
Deal Description: Publicly traded Great Elm Group Inc. announced May 5 that unit Great Elm Capital Management Inc. acquired the investment management agreement for Monomoy Properties REIT and certain other related assets from Imperial Capital Asset Management for $10 million. GEG committed to investing $15 million into Monomoy REIT and intends on plowing an additional $15 million in the REIT over the next 12 months, although it’s not contractually obligated to do so. Formed in 2014, Monomoy REIT is a private real estate investment trust founded by ICAM with a 108-property portfolio of net leased industrial assets representing $348 million of real estate.
GEG’s Financial Advisor: Oppenheimer
GEG’s Outside Counsel: Shearman & Sterling revealed its involvement May 24 with a team led by partner Alain Dermarkar in Dallas and including Michael Walraven, Domenic Frappolli and Emily Kelly
Prairie Capital sells Fairway Lawns to Morgan Stanley Capital
Deal Description: Prairie Capital announced May 19 that it sold Fairway Lawns to Morgan Stanley Capital Partners. Terms weren’t disclosed. Fairway is a provider of residential lawncare services across the Southeastern U.S. In 2019, Prairie partnered with Rising Point Capital and the incumbent management team to recapitalize Fairway to scale the Company and accelerate growth.
Fairway’s Financial Advisor: Harris Williams
Prairie’s Outside Counsel: Katten led by Dallas partner Peter Bogdanow and including associate Kylie Sholty, also in Dallas
Morgan Stanley’s Outside Counsel: Debevoise
LifePoint Health leads investment in Specialist TeleMed
Deal Description: LifePoint Health announced April 21 that it invested in Specialist TeleMed. Terms weren’t disclosed. The target, a telemedicine provider for hospitals, clinics and remote locations worldwide, will continue to serve its existing client base of healthcare organizations and further expand its footprint, including within the LifePoint network. Based in Denver, Specialist TeleMed is a physician-led company offering more than 24 inpatient and outpatient specialties for virtual care consultations.
Specialist TeleMed’s Outside Counsel: McGuireWoods revealed its involvement May 25 led by Dallas partner Jeff Brooker with support from Dallas partner Katie Hull and associates Allison Rosenzweig and Gerard Faulkner
IIF acquires Enstor Gas from ArcLight
Deal Description: Enstor Gas, the largest privately owned gas storage company in the U.S., announced May 11 that the company and its natural gas midstream assets have been acquired by the Infrastructure Investments Fund, an investment vehicle advised by J.P. Morgan Investment Management Inc. The seller was an affiliate of ArcLight Capital Partners. Terms were not disclosed. Enstor will continue to manage and operate its natural gas storage facilities in Alabama, Mississippi, Texas and New Mexico. Enstor base will remain in Houston and the Enstor executive team will continue to manage the company.
IFF’s Financial Advisor: RBC Capital Markets
IFF’s Outside Counsel: Milbank led by partner John Franchini and associate Danny Tyrrell in New York
ArcLight’s Financial Advisor: Jefferies
ArcLight’s Outside Counsel: Orrick Herrington & Sutcliffe led by partners Blake Winburne and Brad Gathright in Houston
Canes Midstream buys Cogent
Deal Description: Canes Midstream, a Dallas-based portfolio company of EIV Capital and Denham Capital, closed on the acquisition of Cogent Midstream on May 25. The Cogent assets, located in the Southern Midland Basin, include 520 million cubic feet per day of processing capacity, more than 800 miles of pipelines, 42 compressor stations, a crude oil gathering system and substantial acreage dedications from a diverse group of Midland Basin-focused producers. The Cogent system spans 10 counties in the Midland Basin, with the bulk of the infrastructure in Reagan and Irion counties. Cogent is based in Dallas and backed by EnCap Flatrock Midstream.
Canes’ Financial Advisor: Wells Fargo Securities including Peter Carini, Andrew Ostrov and Bennett Matkins
Canes’ Outside Counsel: Sidley Austin led by partner Cliff Vrielink and senior managing associate Kayleigh McNelis, both of Houston
Cogent’s Financial Advisor: BofA Securities including Alex Kroner, Julio Hernandez and Sumon Chaudhuri
Cogent’s Outside Counsel: Shearman & Sterling led by Sarah McLean