Law firms reported 22 big deals to Law Week in our Q3 2022 survey, slightly outstripping deals reported last quarter. Last year, firms reported 64 deals to Law Week in Q3. Fewer deals have been reported so far this year as industries across the globe appear to brace for an anticipated recession.
Law Week reported last quarter that initial projections for global market growth in 2022 were around 4%, but economists have since lowered their forecasts due to various disruptions, including the Russia-Ukraine war and continued supply chain issues.
The following deals were submitted to Law Week by the firms who worked on them. Deal notes and details were edited for clarity, length and style.
Acquisitions
$25,500,000
Davis Graham & Stubbs LLP
Client: Confidential
Team: Lamont Larsen, partner; Katie Roux, associate; Kelsey Johnson, associate
Notes: DGS represented the client in its acquisition of oil and gas properties.
$5,750,000
Davis Graham & Stubbs LLP
Client: Confidential
Team: Lamont Larsen, partner; Katie Roux, associate; Kelsey Johnson, associate
Other parties: Sellers were represented by Latham & Watkins LLP
Notes: DGS represented the client in its acquisition of oil and gas properties.
$14,100,000
Davis Graham & Stubbs LLP
Client: Confidential
Team: Lamont Larsen, partner; Katie Roux, associate; Kelsey Johnson, associate
Other parties: Baker Botts LLP
Notes: DGS represented the client in its acquisition of oil and gas properties.
$28,500,000
Davis Graham & Stubbs LLP
Client: Confidential
Team: Lamont Larsen, partner; Almira Moronne, associate; Kelsey Johnson, associate
Other parties: Porter & Hedges LLP
Notes: DGS represented the client in its acquisition of oil and gas properties.
$15,725,000
Davis Graham & Stubbs LLP
Client: Confidential
Team: Lamont Larsen, partner; Katie Roux, associate; Kelsey Johnson, associate
Notes: DGS represented the client in its acquisition of oil and gas properties.
Confidential
Holland & Hart LLP
Client: Bow River Capital Software Growth Equity
Team: Chris Balch, partner; James Crowe, partner; Paige Coriden, associate; Matthew Montoya, associate; Nate Davis, associate; John Ludlum, partner; Ben Gibbons, associate; Lindsay Silber, partner; Elif Gabb, associate; Hao Wang, of counsel; Peter Perla, partner; Trent Timmons, associate; Tim Crisp, partner
Other parties: HRSoft represented by Morgan, Lewis & Bockius LLP
Notes: Holland & Hart represented Bow River Capital Software Growth Equity in its majority platform investment in HRSoft, a human capital management SaaS market leader in compensation management. With a combined 50+ years investing and operating within the HR tech landscape, Bow River’s SGE team recognized the opportunity presented by HRSoft’s industry-leading compensation software suite and decided to move forward with the majority recapitalization. The investment will drive an accelerated build-out of HRSoft’s full suite of human capital management applications, continue scaling operational infrastructure and increase profitable growth.
$2,400,000,000
Perkins Coie LLP
Client: Cricket Health
Team: Jeff Beuche, partner; Amelia Davis, counsel; Tessa Bell, associate
Other parties: Fresenius Health Partners, Inc. and InterWell Health, LLC represented by Cleary Gottlieb Steen & Hamilton LLP, Goodwin Procter LLP and Ropes & Gray LLP
Notes: Perkins Coie represented Cricket Health, Inc., a value-based kidney care provider with an industry-leading patient engagement and data platform, with its publicly announced definitive agreement to combine with Fresenius Health Partners and InterWell Health in order to create a new value-based kidney care business, subject to customary closing conditions, including receipt of required regulatory approvals.
Confidential
Perkins Coie LLP
Client: Trimble
Team: Jeff Beuche, partner; Amelia Davis, counsel; Tessa Bell, associate
Other parties: B2W Software represented by Foley Hoag LLP
Notes: Perkins Coie represented Trimble in connection with acquisition of B2W Software.
Confidential
Perkins Coie LLP
Client: Trimble
Team: Jeff Beuche, partner; Elizabeth Dietz, counsel
Other parties: MiX Telematics
Notes: Perkins Coie represented Trimble with the sale of its Field Services Management Business to MiX Telematics.
Confidential
Perkins Coie LLP
Client: 11:11 Systems
Team: Sonny Allison, partner; Amelia Davis, counsel; Tessa Bell, associate; Avinash Ram, associate
Other parties: Static 1 LLC represented by Hinckley Allen
Notes: Led by partner Sonny Allison, Perkins Coie represented 11:11 Systems, Inc. in its acquisition of Static 1 LLC, a leader in managed network and IT infrastructure development and services.
Disposition
$425,500,000
Davis Graham & Stubbs LLP
Client: GTY Technology Holdings Inc.
Team: Brian Boonstra, partner; Edward Shaoul, partner; Kendall Godley, associate; Evan Williams, associate; Hannah Williams, associate; Jonathan Marks, partner; Alena Prokop, associate; Rachel James, partner; Kevin Teng, of counsel; Paul Prendergast, partner; Michael Snider, partner; David Weil, of counsel; John Elofson, partner; Joel Benson, partner; Jennifer Allen, partner; Chris Lane, partner; Sterling LeBoeuf, partner; Trent Martinet, partner; Erin Simmons, partner; Jon Bergman, partner; Patricia Peterson, senior of counsel; Emily Wasserman, partner
Other parties: An affiliate of GI Partners represented by Ropes & Gray LLP
Notes: DGS represented the client in its sale to an affiliate of GI Partners.
$15,000,000
Davis Graham & Stubbs LLP
Client: Confidential
Team: Lamont Larsen, partner; Katie Roux, associate; Kelsey Johnson, associate
Other parties: Gibson Dunn & Crutcher LLP
Notes: DGS represented the client in its divestiture of oil and gas properties.
$50,000,000
Davis Graham & Stubbs LLP
Client: Confidential
Team: Lamont Larsen, partner; Larry Nemirow, special tax counsel; Bárbara Santisteban, associate
Notes: DGS represented the client in its divestiture of oil and gas properties.
Debt Finance
$1,750,000,000
Gibson, Dunn & Crutcher LLP
Client: The Williams Companies, Inc.
Team: Robyn Zolman, partner; Nick Linke, associate; Sarah Ediger, associate
Other parties: BofA Securities, Citigroup, PNC Capital Markets LLC and Scotiabank served as the representatives of the underwriters. Weil, Gotshal & Manges LLP represented the underwriters.
Notes: Gibson Dunn represented Williams in its $1.75 billion SEC registered offering of two tranches of senior notes.
$800,000,000
Gibson, Dunn & Crutcher LLP
Client: Atmos Energy Corporation
Team: Robyn Zolman, partner; Sarah Ediger, associate; Jordan Holsinger, associate
Other parties: Mizuho, TD Securities and US Bancorp served as the representatives of the underwriters. Shearman & Sterling LLP represented the underwriters.
Notes: Gibson Dunn represented Atmos in its $800 million SEC registered offering of two tranches of senior notes. This deal closed in October 2022.
Equity Finance
$11,500,000
Holland & Hart LLP
Client: Partake Foods
Team: Chuck Cotter, partner; Lauren Schoeffler, associate; Aisha May, associate
Notes: Holland & Hart represented Partake Foods, a brand of certified gluten-free, vegan, non-GMO and allergy-friendly baked goods and baking mixes, in its Series B financing round. This round consisted of a number of closings, totaling approximately $11.5 million in funding. This financing will aid in expanding the company, as well as broadening and accelerating product development.
$20,000,000
Koenig, Oelsner, Taylor, Schoenfeld & Gaddis PC
Client: Fermyon Technologies
Team: Jennifer Rosenthal, partner; Dan Fredrickson, partner; Ryan Sykora, attorney; Logan DeSouza, attorney
Other parties: Insight Partners led the round with participation from previous investors Amplify Partners, Tyler McMullen (CTO of Fastly), Grant Miller (CEO of Replicated) and Marc Campbell (CTO at Replicated) and new investors.
Notes: KO client Fermyon recently announced that it has raised $20 million in Series A funding. Colorado-based Fermyon has raised $26 million to date. The company deals in cloud computing with the first cloud-native WebAssembly platform as a service that lets developers build better microservices faster. The funding will be used to productize Fermyon and to continue to invest in serving the developer community.
Other
$131,000,000
Davis Graham & Stubbs LLP
Client: ServiceSource International, Inc.
Team: Kristin Lentz, partner; Sam Seiberling, partner; John Elofson, partner; Hannah Williams, associate; Nate Bartell, associate; Jonathan Marks, partner; Alena Prokop, associate; Michael Snider, partner; Kevin Teng, of counsel
Other parties: Concentrix Corporation represented by Pillsbury Winthrop Shaw Pittman LLP
Notes: DGS represented ServiceSource International, Inc. in its recent transaction whereby Concentrix Merger Sub, Inc. merged with and into the company, with the company surviving the merger under the name Concentrix ServiceSource Inc. as the surviving corporation and became a wholly owned subsidiary of Concentrix Corporation.
Confidential
Davis Graham & Stubbs LLP
Client: Morpheus Data Holdings
Team: Trent Martinet, partner; David Weil, of counsel; Jessica Dangoia-Crandall, associate
Notes: DGS assisted Morpheus Data Holdings in raising a Series D round. This deal closed in June 2022.
$5,700,000
Holland & Hart LLP
Client: Comrit Investments 1, LP
Team: Amos Barclay, partner; Andrew Leddy, associate
Notes: Holland & Hart represented Comrit Investments 1, LP in three tender offers. These offers resulted in the purchase by Comrit of shares in Sila Realty Trust, SmartStop Self Storage REIT, Inc., and Inland Real Estate Income Trust, Inc. All transactions closed between Sept. 9 and Sept. 21.
Confidential
Holland & Hart LLP
Client: Bow River Capital Software Growth Equity
Team: Chris Balch, partner; James Crowe, partner; Nate Davis, associate; Kenyon Redfoot, associate; Andrew Leddy, associate; Ben Gibbons, associate; John Ludlum, partner; Peter Perla, partner; Lindsay Silber, partner; Trent Timmons, associate
Other parties: Marlin Equity Partners
Notes: Holland & Hart represented Bow River Capital Software Growth Equity in connection with completing its majority recapitalization of Altvia, a leading provider of investor communications and data management software that serves the private capital markets, with Marlin Equity Partners. Bow River Capital's Software Growth Equity team took majority ownership of Altvia in May 2020 and, working in partnership with veteran SaaS executives Brie Aletto, Ben Hendershot, Jeff Williams, Kjael Skaalerud and company founder Kevin Kelly, implemented its performance playbook during the course of the last two years. Together, the team organically doubled Altvia's annualized revenue run rate, and invested heavily in research and development to rapidly expand Altvia's product portfolio. Bow River will retain a minority equity stake in Altvia.
Confidential
Holland & Hart LLP
Client: TalentReef, Inc.
Team: Chris Balch, partner; Byron Crowe, associate; Leah Neumann, associate; James Crowe, partner; Sarah Haradon, partner; Trent Timmons, associate; Ben Gibbons, associate; John Ludlum, partner; Lindsay Silber, partner; Cory Talbot; partner
Other parties: Mitratech Holdings, Inc. represented by Kastner Gravelle LLP
Notes: Holland & Hart represented longtime client TalentReef, a market-leading talent management platform, in its acquisition by Mitratech, a global provider of legal, compliance and HR software. TalentReef's solution provides robust features that hiring managers need to compete in the battle for hourly talent. Its talent management ecosystem was built to eliminate discord, ensure compliance and make the recruiting, hiring and onboarding process as smooth and easy as possible for managers and their applicants. TalentReef will integrate with Mitratech’s Tracker I-9 and AssureHire.
Confidential
Holland & Hart LLP
Client: Integral Consulting Inc.
Team: Chris Balch, partner; Mike Dill, partner; Eric Dante, associate; Kenyon Redfoot, associate; Anton Krayniy, associate; Peter Perla, partner; Rich Spilde, partner; Hao Wang, of counsel; Lindsay Silber, partner
Other parties: Imperial Capital represented by Torys LLP
Notes: Holland & Hart represented Integral Consulting Inc., a national science and engineering firm providing technical solutions to complex environmental, health, economic and natural resource challenges, in its majority investment by Imperial Capital, a leading mid-market private equity firm. The new partnership establishes Integral as a growth platform to build a larger best-in-class environmental services firm and accelerates Integral's strategic plan to expand its services, staff and geographies.
$290,000,000
Sherman & Howard
Client: Confidential
Team: Tom Morgan, member; Jackie Benson, member; Vince Luparell, associate; George Tsai, member; Russ Johnson, associate; Mike Dubetz, member, Bill Wright, member
Notes: This deal closed in August 2022.