CDT Roundup: Deadline for Submitting Deals for M&A Rankings is Next Week

In this edition of CDT Roundup for the week ending March 29, there were 21 Texas-related transactions valued at a total $8.2 billion. The week prior had seen 19 deals for $6.5 billion. It was the third straight week of volume uptick since the 2025 low of seven deals for $2.2 billion for the week that ended March 8. This time last year, there were 12 deals for $9.3 billion.

The CDT Roundup is a weekly feature highlighting the work Texas dealmakers are doing inside and outside the state. Have a deal we should include next week? Please let us know at CDTRoundup@texaslawbook.net by sharing a news release or a short blurb containing the date of the deal, a brief description, the lead lawyers and their offices, as well as any participating Texas lawyers that advised on the deal.

Remember, if your deal publishes in the weekly CDT Roundup, its information is automatically entered in The Texas Lawbook CDT database and is eligible for our quarterly and annual lawyer and law firm rankings. But it has to be timely. If a deal is more than a few weeks old, you can use our deal submission portal. For more information about deal submissions through the portal or our rankings, click here or contact data reporter Christi Trammell at christi.trammell@texaslawbook.net.

Also, a quick reminder that The Lawbook has new 2025 quarterly deadlines for deal submissions — and the first deadline is rapidly approaching next week. Firms and lawyers who wish to be considered for the first quarter and year-end Lawbook leaderboard rankings for M&A and CapM must submit all of their first-quarter deals by April 7 at 5 p.m.

The new quarterly deadlines are:

FIRST QUARTER: April 7 (5 p.m.)
This is the submission deadline for deals between Jan. 1 and March 31. Deals must be received by this deadline to be included in the first quarter rankings and Lawbook leaderboards and be eligible for the annual rankings. Publication of the quarterly law firm rankings and leaderboards will begin April 28.

SECOND QUARTER: July 7 (5 p.m.)
Submission deadline for deals between April 1 and June 30. Publication of second quarter and first half 2025 law firm rankings and Lawbook leaderboards will begin July 28.

THIRD QUARTER: Oct. 6 (5 p.m.)
Submission deadline for deals between July 1 and Sept. 30. Publication of third quarter law firm rankings and Lawbook leaderboards will begin Oct. 27.

FOURTH QUARTER: Jan. 5, 2026 (5 p.m.)
Submission deadline for deals between Oct. 1 and Dec. 31. Publication of fourth quarter and the annual 2025 law firm rankings and Lawbook leaderboards will begin Jan. 26.

Reminder: The Lawbook no longer accepts spreadsheets sent in by individual firms or lawyers to be processed for the CDT database. All deals must be sent as noted above to CDTRoundup@texaslawbook.net or via our submission portal. Any firm or lawyer that previously submitted 2025 deals via spreadsheets between Jan. 1 and March 10 will be processed, but moving forward, they won’t be accepted.

Weekly Corporate Deal Tracker Roundup Stats

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

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

M&A/Fundings

Excelerate Energy to Acquire New Fortress Energy’s Jamaican Assets and Operations for Over $1B

Deal Description: Excelerate Energy, Inc., an LNG company based in The Woodlands, announced on March 27 that it had entered an agreement with New Fortress Energy, a New York-based energy infrastructure company, to acquire its Jamaican assets and operations for $1.055 billion. The assets that Excelerate Energy will acquire in the deal are New Fortress Energy’s Montego Bay LNG Terminal, its Old Harbour LNG Terminal, and its 150 MW Clarendon heat and power co-generation plant, with Excelerate assuming all the material contracts currently in place for the facilities. Lawyers from Gibson, Dunn & Crutcher, Vinson & Elkins and Simpson Thacher & Bartlett are advising on the deals.  For more information, see our daily coverage here. 

SCF Partners Announces Investment in Phoenix Service Partners

Deal Description: SCF Partners, Inc., a Houston-based equity capital and strategic growth provider to energy, equipment and technology businesses, announced on March 27 that it invested in Phoenix Service Partners, a College Station-based natural gas contract compression and solutions provider. Through the investment and partnership, SCF will look to enhance Phoenix Service Partners’ business operations as it continues its build-out. In addition to the investment, Phoenix also closed on an asset-backed credit facility that includes a consortium of lenders, providing $350 million in debt and equity capital to Phoenix.

Phoenix Service Partners In-House Counsel: Kyle Boudousquie (Montgomery)

SCF Partners, Inc. In-House Counsel: David Baldwin (Houston)

SCF Partners, Inc. and Phoenix Service Partners Subsidiary Outside Legal Counsel: Vinson & Elkins

Lead Lawyers: Matthew Strock (Houston), Michael Marek (Houston) and Chandler Spinks (Houston)

Texas Lawyers: Mimi Nguyen (Houston), Rylie Goldwait (Houston), Chandni Jaggi (Houston), Zach Rider (Houston), David Albano (Houston), Annabel Wei (Dallas), Lina Dimachkieh (Houston), Wendy Trahan Salinas (Dallas), Rebecca Baker (Houston), Jordan Peck (Houston), Matthew Dobbins (Houston), Michael Zarcaro (Houston), Shane Tucker(Dallas), Heather Reynolds Johnson (Dallas) and Matthew Green (Dallas)

Elsewhere: Meghan Dobbins (New York), Curt Wimberly (Washington, D.C.), Katie Dillard (New York) and Kelly Rondinelli (Washington, D.C.)

Glenfarne Group to Acquire 75% Stake in the Alaska LNG Project

Deal Description: Glenfarne Group, a New York and Houston-based energy and infrastructure asset developer and operator, announced on March 27 that it entered an agreement with the Alaska Gasline Development Corporation to become the majority owner and primary operator of Alaska LNG. Alaska LNG is a project built to deliver natural gas to Alaska-based residents and utility companies and is the only federally permitted LNG export project on the U.S. Pacific Coast. The financial details of the transaction were not disclosed by the firms involved in the deal; however, the companies did disclose that they signed a letter of intent in June 2024 and an exclusive term sheet in December 2024 in preparation for the deal. Under the terms of the agreement, the Alaska Gasline Development Corporation will divest 75 percent of 8 Star Alaska, the subsidiary it created to hold and manage the Alaska LNG project assets, to Glenfare. Moving forward, the Alaska Gasline Development Corporation will retain a 25 percent stake in the project and have the opportunity to invest up to 25 percent in any of 8 Star Alaska’s current and future projects. 

Glenfarne Group Outside Legal Counsel: Sidley Austin

Texas Lawyers: Tim Chandler (Houston), Ashley Moulder (Houston)

Brian Bradshaw (Houston) and Glenn Pinkerton (Houston)

Elsewhere: Kenneth Irvin (Washington D.C.)

Alaska Gasline Development Corporation Outside Legal Counsel: Greenberg Traurig

Lead Lawyers: Audrey Louison (Washington, D.C.), Eric Macaux (Boston) and Kenneth Minesinger (Washington, D.C.)

Supira Medical Announces $120M in New Funding

Deal Description: Supira Medical, Inc., a Los Gatos, California-based Shifamed portfolio company focused on developing a next-generation pVAD device, announced on March 26 that it had completed its Series E financing round, which was oversubscribed and saw it raise $120 million. The round was led by Novo Holdings, Qatar Investment Authority and two undisclosed strategic investors. Some of Supira’s other existing investors also participated in the round, including The Capital Partnership, 415 Capital, Cormorant Asset Management, the PA MedTech VC fund, Unorthodox Ventures and AMED Ventures. The $120 million will be primarily used to expand Supira clinical programs, including cardiogenic shock (CS) and high-risk percutaneous coronary intervention (HRPCI). The expansion will also include the SUPPORT II U.S. Pivotal Study for HRPCI to obtain FDA PMA approval.

Supira Medical, Inc. Outside Legal Counsel: Sidley Austin

Texas Lawyers: Nick DeAngelis (Dallas/Palo Alto)

Elsewhere: Frank Rahmani (Palo Alto/San Francisco), Jake Funk (Palo Alto), Samantha Carvalho (San Francisco), Idan Netser (Palo Alto) and Stephen Abreu (San Francisco)

Supira Medical, Inc.  Financial Advisor: Piper Sandler 

New York Power Authority Acquires the Somer Solar Project From CS Energy

Deal Description: New York Governor Kathy Hochul announced on March 25 that the New York Power Authority has acquired a 100 percent ownership stake in the Somer Solar Project, a 20 MW solar energy generation project based in Fort Edward, New York. The New York Power Authority is acquiring the project from Edison, New Jersey-based energy company CS Energy’s subsidiary Clean Peak. CS Energy intends to use the proceeds from the acquisition to invest in developing future renewable energy projects. The recently announced acquisition represents the New York Power Authority’s first project as part of its January 2025 renewables strategic plan, in which the NYPA will look for opportunities to acquire and develop renewable energy projects. 

New York Power Authority Outside Legal Counsel: Norton Rose Fulbright

Lead Lawyers: Becky Diffen (Austin/Houston)

Texas Lawyers: Christine Fernandez Owen (Austin/Chicago), Bob Greenslade (Austin/Denver), Lauren Thomas(Austin) and Jeremy Tripp (Houston) 

Elsewhere: Allie Hemmings (Washington, D.C.), Benjamin Koenigsberg (New York), Keith Martin (Washington, D.C.), Coleman Porta (St. Louis) and Christopher Michael Vale (New York)

Alcon Inc. to Merge and Acquire Lensar, Inc. For $356M

Deal Description: Alcon Inc., a Geneva, Switzerland-based eye care provider with operational headquarters in Fort Worth, announced on March 24 that it has entered an agreement to merge and acquire LENSAR, Inc., an Orlando, Florida-based medical technology company that focuses on developing laser solutions for cataract treatments. To acquire LENSAR, Alcon will purchase all of its outstanding shares for $14.00 per share in cash, totaling $356 million. However, there is an opportunity for an additional payment of up to $2.75 per share in cash if the company can achieve 614,000 procedures with LENSAR’s products between 2026 and 2027. If the condition is met, Alcon will end up paying $16.75 per share, bringing the acquisition total to $430 million. The acquisition is expected to close in the second half of 2025. Following the close of the transactions, Alcon will acquire the ALLY Robotic Cataract Laser Treatment System, LENSAR’s proprietary Streamline software technology and the LENSAR legacy laser system. Adding these products to its suite will help enhance Alcon’s femtosecond laser-assisted cataract surgery offering.

Alcon Inc. In-House Counsel: Royce Bedward (Fort Worth)

Alcon Inc. Outside Legal Counsel: Norton Rose Fulbright

Lead Lawyers: Scarlet McNellie (Dallas)

Texas Lawyers: Caleb Segrest (Dallas), Jennifer Zhang (Dallas), Josh Buss (Dallas), Abraham Chang (Houston), Alexander Clark (Dallas),

Todd Schroeder (Dallas), Katherine Oglesby (Dallas), Tom Meaney (Dallas), Jamila Mensah (Houston), Katie Van Dyk(Austin), Ridley Holmes (Austin) and Janet McQuaid (Houston)

Elsewhere: Robin Adelstein (New York/Washington, D.C.), Neely Agin (Washington, DC), Luke McFarland(Washington, DC), Ian Giles (London/Brussels), Marc Waha (Hong Kong/Tokyo), Mark Faccenda (Washington, DC), Stefan Reisinger (Washington, DC), Sharon Oded (Amsterdam/London), Julia Fleminks (Amsterdam), Joost Gille(Amsterdam) and Mai Muto (Brussels)

LENSAR, Inc. Outside Legal Counsel: Latham & Watkins

Alcon Inc. Financial Advisor: Lazard

Protecht Group Announces $280M Investment From PSG Equity

Deal Description: Protecht Group, a Sydney, Australia-based governance, risk, and compliance solutions provider, announced on March 24 that it received a $280 million investment from PSG Equity, a Boston-based growth equity firm that primarily collaborates with software and technology-focused companies. Protecht intends to use the new funding to develop and deliver AI-driven risk management solutions to enhance its total offering package.

PSG Equity Outside Legal Counsel: Weil, Gotshal & Manges and Baker & McKenzie

Weil, Gotshal & Manges Lead Lawyers: Richard Frye (Dallas)

Weil, Gotshal & Manges Texas Lawyers: Emma Conde (Dallas), Spencer Finney (Dallas) and Jonathan Macke(Dallas)

Baker & McKenzie Lead Lawyers: Liam Hickey (Melbourne)

Elsewhere: Marissa Volaris (Melbourne), William Owen (Melbourne), Isaac Burnett (Melbourne), Kellie-Ann McDade(Melbourne), Toby Patten (Melbourne), Anne Petterd (Sydney), Miles Hurst (Sydney), Alexandra Stead (Sydney), Matthew Dempsey (Melbourne), Sabine Johnson (Melbourne), Janine van Eyk (Sydney), Stephanie Vesel (Melbourne), Stephan Cerni (Sydney), Howard Fraser (Sydney), Victoria Bell (Sydney), Rebecca Rumens (Sydney), Aleksandra Zochowski (Sydney), Jonathan Kelt (Sydney) and Erica Kidston (Sydney)

Protecht Group Outside Legal Counsel: JWS

Protecht Group Financial Advisor: AGC Partners

Protecht Group Additional Financial Support: Arrowroot Capital

Note: Weil, Gotshal & Manges has advised PSG on several other deals, including its strategic investment in Coursekey in January 2025, its closing of a pair of funds worth a combined $8 billion in February 2025 and most recently in its March 2025 investment in data manager Lightkeeper.

ENGIE and Ares Management Announce Partnership Expansion

Deal Description: ENGIE North America, a Houston-based energy transition-focused company, announced on March 24 that it had expanded its partnership with Los Angeles-based investment manager Ares Management’s Infrastructure Opportunities funds by adding a 0.9 GW portfolio. The newly acquired portfolio consists of a trio of solar projects operating across ERCOT and MISO, as well as one co-located battery storage project in ERCOT. The acquisition of the newly acquired portfolio will bring the partnership’s GW portfolio total to 3.7 GW. Despite the announcement of the transaction, ENGIE plans to keep a controlling share of the portfolio and will be responsible for operating and managing the assets. The transaction supports ENGIE’s long-term strategic initiative of continuing to invest in North American assets alongside established infrastructure-focused investors to support the demand for power in the U.S.

ENGIE North America In-House Counsel: Will Davis (Houston)

Ares Management Outside Legal Counsel: Kirkland & Ellis

Texas Lawyers: Robert Goodin (Houston/Austin), Daniel Cadis (Houston/Austin), Nicolas Lee (Austin), Lucy Li(Austin), Lauren Stelck (Austin), William Dong (Houston/Salt Lake City), Nicole Dressler Martin (Houston) and James Dolphin (Houston) 

Elsewhere: Rohit Chaudhry (Washington, D.C.), Olivia George (New York), William Nicholson (New York), Michael Masri (New York), Sophia Han (New York), Brittany Nguyen (New York) and Andrew Stuyvenberg (Washington, D.C.)  

Horizon, Matahio Energy Announces Acquisition of Thailand Onshore Assets From ExxonMobil

Deal Description: Australia’s Horizon Oil and its subsidiary Horizon Thailand Investments announced on March 24 that they had partnered with Malaysia’s Matahio Energy to acquire some of Houston’s ExxonMobil’s Thailand-based assets. The deal will see Horizon acquire a 7.5 percent working interest in the E5N and EU1 development licenses, which are onshore in Thailand, and a 60 percent interest stake in the E5 development license, also onshore in Thailand. The E5N and EU1 development licenses hold the Sinphuhorm conventional gas and condensate field, and the E5 development license holds the Nam Phong gas field. The acquisition itself was made through a consortium in which Horizon will acquire a 75 percent stake in Exxon Mobil Exploration and Production Khorat Inc. Horizon will initially pay $30 million for that 75 percent; however, Horizon may have to pay up to $7.5 million in contingent payments over the next six years. In comparison, Matahio is acquiring the additional 25 percent and will manage the Exxon Mobil Exploration and Production Khorat employees and operate the Nam Phong field. Once the deal closes, the Sinphuhorm field ownership will include its operator PTTEP owning 80.48 percent of the field, with Jadestone owning 9.52 percent and Horizon and Matahio owning 7.5 and 2.5 percent, respectively. For the Nam Phong field, PTEEP will now own 20 percent of it, and Horizon and Mathaion will own 60 and 20 percent, respectively.

ExxonMobil In-House Counsel: Jeffrey Taylor (Houston)

Brookfield Announces Sale of 25% Interest Stake in the Natural Gas Pipeline Company to ArcLight

Deal Description: Brookfield Infrastructure Partners, the infrastructure company of New York’s Brookfield Asset Management, announced on March 21 that it had sold its remaining 25 percent interest stake in the Natural Gas Pipeline Company of America to funds managed by Boston’s ArcLight Capital Partners. The acquisition will close in Q2 2025, and when it does, ArcLight Funds will now hold a 62.5 percent interest stake in NGPL, and Kinder Morgan will hold the remaining 37.5 percent interest stake. Brookfield obtained its initial 27 percent stake in the pipeline by purchasing Babcock & Brown Infrastructure in 2009 and increased its stake to 50 percent in 2015; however, following the close of this sale, Brookfield will now have exited the business and obtained $1.7 billion in total proceeds from the selling of its interest in the company over the past few years.

Brookfield Infrastructure Partners Outside Legal Counsel: Vinson & Elkins

Lead Lawyers: Benjamin Barron (Houston) and Jordan Fossee (Houston)

Texas Lawyers: Chandler Spinks (Houston), Phillip Greenfield (Houston), Ronnie Braxton (Houston), Maya Bobbitt(Austin/New York), James Caleb Payne (Houston), Lina Dimachkieh (Houston), Miron Klimkowski (Dallas) and Patrick Darby (Dallas)

Elsewhere: David Wicklund (New York), Caitlin Turner (New York), Kara Kuritz (Washington, D.C.) and Adam Thomas (Washington, D.C.)

ArcLight Capital Partners Outside Legal Counsel: Latham & Watkins

Lead Lawyers: Justin T. Stolte (Houston/New York), Annelise Karreman (New York), Warren Lilien (New York) and Thomas Verity (Houston)

Texas Lawyers: John Daywalt (Houston), Haley Sandoval (Houston), Stacey Lyn Hall (Houston) and Caroline Silverstein (Houston)

Elsewhere: Emma Green (New York)

Brookfield Infrastructure Partners Financial Advisors: CIBC Capital Markets and RBC Capital Markets 

Note: In addition to announcing this acquisition, Brookfield also shared that it entered an agreement to sell a 30 percent interest stake in a 244-megawatt portfolio of de-risked operating sites in Europe to a financial sponsor for $460 million and is looking to sell an additional 60 percent stake of the portfolio in the coming months. The firm did not share the legal or financial advisors involved in this deal.

Nauticus Robotics Acquires SeaTrepid International for $16M

Deal Description: Nauticus Robotics, Inc., a Webster, Texas-based autonomous subsea robotics and software provider, announced on March 20 that it had closed its acquisition of SeaTrepid International, a Southeastern Louisiana-based subsea robotic services provider, for $16 million. Nauticus Robotics initially announced its intent to acquire SeaTrepid on March 5. Once SeaTrepid officially combines with Nauticus Robotics, the company will begin operating as Nauticus Robotics, and Nauticus will start integrating its AI-driven autonomy software into SeaTrepid’s ROV fleet immediately. Through the acquisition, Nauticus will expand its presence in the Gulf Coast region and enhance its overall capabilities. 

Nauticus Robotics, Inc. In-House Counsel: John Symington (Houston)

Nauticus Robotics, Inc. Outside Legal Counsel: Norton Rose Fulbright 

Lead Lawyers: Amelia Zhang (Houston) and Brandon Byrne (Dallas)

Texas Lawyers: Wesley Okereke (Dallas), Eagle Robinson (Austin), Amy Mitchell (Austin), Josh Owings (Dallas) and Sloka Srisai Valleru Borrego (Houston)

Elsewhere: Joseph Scialabba (New York), Neely Agin (Washington, D.C.) and Luke McFarland (Washington, DC)

Longview Infrastructure Announces Equity Commitment from Stonepeak

Deal Description: Longview Infrastructure, an electric transmission development and investment platform based in Saint Louis, Missouri, announced on March 20 that it received an equity commitment from Stonepeak, a New York-based infrastructure and real assets-focused investment firm. Through the equity commitment, Longview will collaborate with Stonepeak to develop and operate electric transmission infrastructure-focused products to address the growing electricity need fueled primarily by data centers and AI.

Longview Infrastructure Outside Legal Counsel: Vinson & Elkins

Lead Lawyers: Abby Branigan (Dallas) and Ted Belden (Dallas)

Stonepeak Outside Legal Counsel: Sidley Austin 

Texas Lawyers: Tim Chandler (Houston), Samantha Seley (Houston) and Jack Messer (Houston)

Inn-Flow Announces $45M Investment From Mainsail Partners

Deal Description: Inn-Flow, a Raleigh, North Carolina-based hotel-focused back-office management and accounting software provider, announced on March 14 that it had received a $45 million growth capital investment from Mainsail Partners, a San Francisco-based SaaS-focused growth equity firm. With the investment, Inn-Flow will look to expedite its product development processes, look for ways to enhance its customer experience and grow its team. In addition, Inn-Flow plans to roll out several new additions to its product suite, including products that offer facilities management, mobile technology and business intelligence solutions.

Mainsail Partners Outside Legal Counsel: Latham & Watkins

Lead Lawyers: Kristen Smith Grannis (Boston/New York) and Laki Triantafylidis (Boston)

Texas Lawyers: Robert Brown II (Houston/Austin) 

Elsewhere: Priyanka Shridhar Krishnamurthy (Boston), Sue Yeon Kim (Boston), Sarah Weiswasser (Boston), Payton Reisinger (Boston), Katharine Moir (Silicon Valley), Jeremiah Cowen (Boston), Josh Friedman (Boston), Rebecca Fishbein (Boston), Laura Waller (Chicago), Jocelyn Wexler (Boston), Matthew Snyder (Boston), Victoria Allen (New York), Erin Brown Jones (Washington, D.C.), Monica Trueba Neligan (Washington, D.C.), Hannah Cary (San Diego) and Madeline Rae Hodges

Eaton Acquires Fibrebond for $1.4B

Deal Description: Eaton, a Dublin, Ireland-based power management company, announced on March 11 that it had acquired Fibrebond Corporation, a Minden, Louisiana-based manufacturer and integrator of electrical modules for the data center, industrial, and utility industries, for $1.4 billion. The acquisition is expected to close in Q3 2025 and generate $110 million of estimated 2025 adjusted EBITDA. Through the acquisition, Eaton intends to use Firbond’s full-service platform to serve its customers better amid growing electricity demand.

Fibrebond Outside Legal Counsel: Latham & Watkins

Lead Lawyers: Caroline Phillips (New York) and Jessica Marina Pisani (New York)

Texas Lawyers: Robert Brown II (Houston/Austin) and Joshua Marnitz (Houston/Los Angeles)

Capital Markets/Credit

Prairie Operating Co. Announces Underwritten Public Offering and Series F Convertible Preferred Stock Offering

Deal Description: Prairie Operating Co, a Houston-based independent oil and gas company that focuses on acquiring and developing crude oil, natural gas and NGLs assets, announced an underwritten public offering of $38.5 million on March 24. The common stock will be offered at $4.50 per share, and Prairie has also provided the underwriters the 30-day option to purchase $5.8 million of additional shares of its common stock. The offering is expected to close on March 26, and Prairie expects the total proceeds to be around $35.4 million after including the underwriting discount, commissions and offering expenses. However, if the underwriters exercise their 30-day option, that number will rise to $40.8 million. In conjunction with this move, Prairie also announced another offering of 150,000 shares as a part of a new series F convertible preferred stock offering to an unnamed investor that will include a 12 percent annual dividend payment on the shares. Prairie is also offering the same investor the opportunity to purchase additional series F preferred stock warrants at a later date if specific conditions are achieved. Prairie intends to use the net proceeds from both offerings to fund a portion of its February 2025-announced acquisition of oil and gas assets from Bayswater Exploration and Production and its affiliates. Following that, Prairie will use the remaining proceeds to develop its drilling program further, repay debt and look for acquisition opportunities.

Prairie Operating Co. In-House Counsel: Daniel Sweeney (Denver)

Underwriters and Financial Advisers Outside Legal Counsel: Latham & Watkins

Lead Lawyers: David Miller (Houston/Austin) and Samuel Rettew (Austin)

Texas Lawyers: Cooper Shear (Austin), Caroline Carol Bale (Austin),

Regan Barney (Austin), Nicholas Blake (Austin), Bryant Lee (Houston), Dylan White (Houston) and Joshua Marnitz(Los Angeles/Houston) 

Elsewhere: Tristan Schmoor (Los Angeles) and Nolan Fargo (San Diego)

Lead Book-running Manager for the Common Stock Offering: Citigroup 

Joint book-running Managers for the Common Stock Offering: KeyBanc Capital Markets, Truist Securities, MUFG Securities Americas and Piper Sandler & Co.

Co-Managers for the Common Stock Offering: Roth Capital Partners, Clear Street, Johnson Rice & Company and Pickering Energy Partners 

Note: Latham is representing both the underwriters in the common stock offering and the financial advisers in the series F convertible preferred stock offering.

EZCORP Announces $300M Senior Note Offering

Deal Description: EZCORP, Inc., an Austin-based pawn transactions provider primarily serving those in the U.S. and Latin America, announced a private senior notes offering on March 24, worth $300 million at 7.375 percent and due in 2032. However, after deducting the initial purchasers’ discounts and covering the offering’s expenses, EZCORP expects the net proceeds from the offering to be $292.5 million. The note offering is expected to close on March 28 and mature in April 2032. EZCORP intends to use the proceeds to use $103.4 million to repay its outstanding 2.375 percent convertible senior notes due in 2025 and for other corporate purposes.

EZCORP, Inc. In-House Counsel: Ellen Bryant (Austin)

EZCORP, Inc. Outside Legal Counsel: Vinson & Elkins

Lead Lawyers: Robert Kimball (Dallas), Katherine Frank (Dallas), Lucy Liu (Dallas), Taylor Santori (Dallas), Olivia Cahill (Dallas) and Devon Espinoza-Fontenot (Dallas)

Texas Lawyers: Nick Wetzeler (Dallas), Wendy Trahan Salinas (Dallas), Jeff Slusher (Dallas) and Addy Jackson (Dallas)

Elsewhere: David Wicklund (New York) and Caitlin Turner (New York) 

American Electric Power Announces Over $2B Underwritten Offering

Deal Description: American Electric Power, a Columbus, Ohio-based energy solutions provider, announced on March 24 the pricing of a registered underwritten offering of 19,607,844 shares of its common stock at $102 per share. The shares will be borrowed by a group of forward counterparties, sold to the underwriters and offered through forward sale agreements. Specifically, AEP entered forward sale agreements with Citibank and Barclays Bank, the forward counterparties, which will obtain the entire 19,607,844 shares that are a part of the offering. AEP is also offering the underwriters the 30-day option to purchase an additional 2,941,176 shares at the $102 per share price. If the underwriters exercise this option, AEP intends to enter additional forward sale agreements with Citibank and Barclays Bank. The forward sale agreements are expected to occur before the end of 2026, and AEP can settle them by paying cash or exchanging additional shares if certain conditions are met. AEP intends to use the net proceeds from the offering to make strategic acquisitions, contribute to its utility subsidiaries and repay debt.

American Electric Power Outside Legal Counsel: Simpson Thacher & Bartlett

Texas Lawyers: Brian Rosenzweig (Houston), Margaret Selbe (Houston) and Michael Hiestand (Houston)

Elsewhere: Jon Lindabury (New York), Nathan Utterback (New York), Abby Kieker (Palo Alto), Drew Purcell (New York), Jonathan Cantor (New York), Kris Liu (New York) and Jeanne Annarumma (New York) 

Lead Book-Running Managers for the Offering: Citigroup, Barclays, BofA Securities, Wells Fargo Securities, Goldman Sachs, JP Morgan, Mizuho, Morgan Stanley, MUFG and Scotiabank 

Co-Managers for the Offering: Capital Markets and KeyBanc Capital Markets

Note: In January 2025, a Simpson Thacher & Bartlett team advised KKR and the Public Sector Pension Investment Board in an acquisition of a 19.9 percent stake in AEP for $2.82B.

NW Natural Holdings Completes $325M Junior Subordinated Debentures Offering 

Deal Description: NW Natural Holdings, a Portland, Oregon-based public utility holding company, announced the close of its junior subordinated debentures offering on March 18. The offering is worth $325 million and is due in September 2055. NW Natural Holdings intends to use the proceeds from the offering to repay its term loan facility and to finance its January 2025 acquisition of SiEnergy Operating.

Underwriters Outside Legal Counsel: Simpson Thacher & Bartlett

Texas Lawyers: Brian Rosenzweig (Houston), Maggie Selbe (Houston) and Andrew Scattergood (Houston)

Elsewhere: Julie Ledermann (New York), Andrew Pagliughi (New York) and Michael Mann (New York)

Joint Book-Running Managers for the Offering: JP Morgan, Wells Fargo, BofA Securities and U.S. Bancorp Investments

Co-Managers for the Offering: BMO Capital Markets, CIBC World Markets, RBC Capital Markets and TD Securities 

Late Arrivals and Other Matters…

Pappas Restaurants Eyeing Acquisition of On The Border Mexican Grill & Cantina

On March 27, multiple reports shared that Pappas Restaurants, a Houston-based family-owned and operated restaurant group, has put in a bid to acquire Irving-based restaurant chain On The Border Mexican Grill & Cantina after it filed for Chapter 11 bankruptcy in Atlanta on March 4. In addition, it was also reported that a Pappas Restaurants-affiliated unit was named as a lender of bridge and other similar financing to the Irving-based restaurant chain.

King & Spalding is representing On The Border Mexican Grill & Cantina and its affiliates in the Chapter 11 bankruptcy case. The team includes Jeffrey Dutson (Atlanta), Brooke Bean (Atlanta) and Alice Kyung Won Song (Atlanta).

Pappas Restaurants hasn’t named the law firm representing it in a potential acquisition of On The Border Mexican Grill & Cantina; however, Austin-based attorney Anna Marchand serves as the company’s GC.

Western Midstream Announces Long-Term Produced Water Agreement With Occidental Petroleum

Western Midstream Partners, an LP based in The Woodlands, Texas, that develops and acquires midstream assets, announced on Feb. 26 that it had entered a long-term produced water agreement with Houston’s Occidental Petroleum Corporation. Through this new agreement, Western Midstream will expand its produced-water gathering and disposal system to support future development and customer needs in the Delaware Basin. In addition, the deal includes minimum-volume commitments for gathering, transportation and disposal to support Western Midstream Partners’ long-term business operations.

Troutman Pepper Locke advised Western Midstream Partners in the deal with a team that included Terry Radney (Houston), Hunter Summerford (Houston), David Wilhelm (Houston), John Arnold (Houston), Patrick Beaton (Houston), Marshall Moorhouse (Houston), Jeremy Petersen (Houston) and Case Towslee (Houston).