Firms reported 12 big deals to Law Week in our Q3 2024 survey, dipping below the number of deals reported in the second and first quarter for this year.
Last year, firms reported 22 deals to Law Week in Q3. Economists this year predict slight growth at around 3% globally on the conservative end, while more optimistic market reports project 8 to 9% growth. Economists also seem to anticipate more modest consumer spending this year.
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
CONFIDENTIAL
Perkins Coie LLP
Client: Maxima Power Group, Inc.
Team: Jessica Batzell, partner; Nate Ford, partner; Daniel Sito, partner; Golnaz Camarda, associate; Ann Balzer, associate; Christopher Phares, associate; Betul Serbest, associate
Other parties: Sunbelt Solomon Services, Trilantic North America represented by Gibson, Dunn & Crutcher LLP
Notes: Perkins Coie represented Maxima Power Group, a NETA-certified electrical engineering, automation solutions and technical field services provider, in its acquisition by Sunbelt Solomon Services, a provider of customized electrical power solutions and services.
CONFIDENTIAL
KO Law PC
Client: Vimly
Team: Jennifer Rosenthal, partner; Logan DeSouza, attorney; Caitlyn Knudson, paralegal
Other parties: Wired Quote
Notes: KO client Vimly, a leader in the benefits administration space, announced the acquisition of Wired Quote, a small group health insurance quoting and enrollment solution provider.
CONFIDENTIAL
KO Law PC
Client: ClinOne
Team: Kevin Gibson, partner; John Kyed, attorney; Ryan Sykora, attorney; Krystal Rushton, paralegal
Other parties: uMotif
Notes: KO client ClinOne, which connects, informs and empowers participants, care partners and sites in clinical trials with a true single platform for trial awareness, consent management and participant experience and retention, was recently acquired by uMotif, a fast-growing clinical research technology company.
CONFIDENTIAL
KO Law PC
Client: Bamboo Rose
Team: Jennifer Rosenthal, partner; Charles Ciaccio, partner; Logan DeSouza, attorney; Elizabeth Ho, attorney; Caitlyn Knudson, paralegal
Other parties: Foresight Retail
Notes: KO client Bamboo Rose, a retail product development and supply chain technology company, recently acquired Foresight Retail, a SaaS retailer and brand-focused planning company built by industry experts.
Debt finance
$1.5 billion
Holland & Hart LLP
Client: SM Energy Co.
Team: Lucy Stark, partner; Leah Neumann, associate; Amos Barclay, partner; Adam Cohen, partner; Megan Decker, associate; Tim Percival, paralegal; Richard Robinson, associate; Matt Shell, associate; George Singer, partner
Other parties: XCL Resources, LLC; J.P. Morgan Securities LLC; Wells Fargo Securities, LLC; and BofA Securities, Inc. represented by Gibson, Dunn & Crutcher LLP
Notes: Holland & Hart represented SM Energy Co., an oil and gas exploration and production company, in its public offering of $1.5 billion in notes, comprised of $750 million aggregate principal amount of 6.750% senior notes due 2029, and $750 million aggregate principal amount of 7.000% senior notes due 2032. The notes were issued in a “144A for life” transaction to qualified institutional investors or persons outside the U.S. J.P. Morgan Securities LLC and Wells Fargo Securities, LLC served as joint physical book-running managers, and BofA Securities, Inc. served as joint lead book-running manager for the offering — all three acted as the representatives of the initial purchasers. SM Energy used the proceeds from the offering — along with cash on hand and borrowings under its credit agreement — to fund the purchase price for SM Energy’s recently announced pending acquisition of certain oil and gas properties, interests and related assets located in the Uinta Basin from certain entities affiliated with XCL Resources, LLC; to redeem all of its outstanding 5.625% notes due 2025; and to pay related fees and expenses. The initial purchasers were represented by Gibson, Dunn & Crutcher LLP.
$1.5 billion
Gibson, Dunn & Crutcher LLP
Client: The Williams Companies, Inc.
Team: Robyn Zolman, partner; Sarah Ediger, associate; Lauren Hernandez, associate
Other parties: BofA Securities, PNC Capital Markets, RBC Capital Markets and SMBC Nikko served as representatives of the underwriters. Weil Gotschal & Manges represented the underwriters.
Notes: Gibson Dunn advised The Williams Companies, a natural gas infrastructure company, on its public offering of $1.5 billion of SEC-registered notes, consisting of $450 million of 4.800% senior notes due 2029, $300 million of 5.150% senior notes due 2034, and $750 million of 5.800% senior notes due 2054.
$700 million
Gibson, Dunn & Crutcher LLP
Client: D.R. Horton, Inc.
Team: Robyn Zolman, partner; Sarah Ediger, associate; Lauren Hernandez, associate
Other parties: Mizuho Financial Group, BofA Securities, and Wells Fargo Securities served as representatives of the underwriters. Cahill Gordon & Reindel represented the underwriters.
Notes: Gibson Dunn advised D.R. Horton, the largest homebuilding company in the U.S. by number of homes closed, on its public offering of $750 million of SEC-registered 5.000% senior notes due 2034.
Equity finance
$20,150,000
Perkins Coie LLP
Client: Provenance Management Co., LP
Team: Nate Ford, partner; Jessica North, partner; Maysa Torabi, associate
Other parties: Everyday Dose Inc.
Notes: Perkins Coie represented Provenance Management Co., LP in its participation in Everyday Dose Inc.’s Series A Financing.
$25,000,000
KO Law PC
Client: MetOx International
Team: Jennifer Rosenthal, partner; Ryan Sykora, attorney; Michael Wysolmerski, attorney; Caitlyn Knudson, paralegal
Other parties: Investors include energy-focused family office Centaurus Capital and climate and energy transition-focused venture firm New System Ventures.
Notes: KO client MetOx International, Inc., a U.S.-based developer and manufacturer of high-temperature superconducting wire, announced the successful closing of a $25 million Series B extension. New investors include energy-focused family office Centaurus Capital and climate and energy transition-focused venture firm New System Ventures. The investment may signal investor confidence in MetOx’s Xeus HTS wire technology for key energy transition applications.
$26,500,000
KO Law PC
Client: Trio Mobil
Team: Logan DeSouza, attorney; John Gaddis, partner; Kevin Gibson, partner; Michael Wysolmerski, attorney; Krystal Rushton, paralegal
Other parties: Led by NewSpring with participation from existing investors 212 and TIBAS Ventures.
Notes: KO client Trio Mobil, a provider of AI and IoT solutions for industrial workplace safety and efficiency, recently secured a $26.5 million growth financing led by NewSpring with participation from existing investors 212 and TIBAS Ventures. With more than 500,000 connected devices and more than 2,000 customers in 65 countries, Trio Mobil collaborates with leading global enterprises such as Coca-Cola, Unilever, PepsiCo, Mercedes-Benz, Ford and more. This funding will enhance Trio Mobil’s ability to support global customers, accelerate growth initiatives and strengthen its U.S. and international operations.
Other
CONFIDENTIAL
Fortis Law Partners
Client: A home technology company and franchisor
Team: Julie Herzog, partner
Notes: Fortis assisted a home technology company and franchisor with its sale to a strategic buyer, and strategic buyers in acquisitions of multiple manufacturing and consumer products businesses.
CONFIDENTIAL
KO Law PC
Client: Cloudbreak Pharma
Team: Brad Schoenfeld, partner
Other parties: Santen Pharmaceutical
Notes: KO client Cloudbreak Pharma, a clinical-stage ophthalmology biotechnology company, announced it entered into a licensing agreement with Santen Pharmaceutical, a specialized company dedicated to eye health, to develop, manufacture and commercialize its topical pterygium treatment.