October 9, 2019 – Locke Lord has been ranked among the top 10 legal advisers in Mergermarket’s Q1-Q3 2019 U.S. South League Table by Deal Count, credited with 44 deals for a total value of $22.5 billion ― third on the chart in terms of total deal value. The full report can be found here.
Some recent high-profile and notable transactions led by Locke Lord lawyers included:
- Represented Comstock Resources, Inc. in the acquisition of Covey Park Energy LLC in a cash and stock merger valued at approximately $2.2 billion, including the assumption of Covey Park's outstanding debt and the retirement of Covey Park's existing preferred units for an aggregate total of approximately $1.1 billion. Jerry Jones, owner of the Dallas Cowboys Football Club Ltd, invested $475 million in Comstock as part of the transaction, in exchange for 50,000,000 newly issued shares of Comstock common and $175 million of newly issued shares of convertible preferred stock of Comstock. The transaction closed July 16, 2019.
- Advising NextEra Energy Partners LP in its announced acquisition of Meade Pipeline Co LLC, and its interest in the Central Penn Line, in a transaction valued at approximately $1.37 billion. The Central Penn Line is a long-term contracted natural gas pipeline that is a critical resource to transport low-cost Marcellus natural gas to Mid-Atlantic demand centers. The deal value includes roughly $90 million in future capital contributions through 2022, which are related to an expansion opportunity at the existing pipeline. The Locke Lord team is led by Bill Swanstrom and Jennie Simmons.
- Provided counsel to Momentum Midstream in the sale of the company’s 38 percent stake in Utica East Ohio Midstream system (UEO) to Williams Cos. The transaction closed on March 18, 2019. The acquisition was part of a newly established joint venture for UEO and the Ohio Valley Midstream system (OVM), valued at approximately $3.8 billion. Williams Cos. will assume ownership of UEO and will retain 65 percent ownership of the UEO and OVM joint venture with Canada Pension Plan Investment Board purchasing the remaining 35 percent interest. The Locke Lord team was led by Mitch Tiras.
- Representing WellCare as national insurance and health care regulatory counsel in its $17.3 billion merger with Centene, a transaction that will create a premier health care enterprise focused on government-sponsored health care programs and a leader in Medicaid, Medicare and the Health Insurance Marketplace. The combination is expected to close by the first half of 2020. The team is led by Ashlee Knuckey.
- Represented Silver Eagle Distributors, L.P., the nation’s largest independent distributor of Anheuser-Busch beverages, in the sale of Silver Eagle’s Greater Houston-area business to a subsidiary of Redwood Capital Investments, LLC. The transaction included Silver Eagle’s rights to distribute beer and other beverages in Harris, Fort Bend and Montgomery Counties in Texas. Silver Eagle retained all of its 13-county San Antonio-area distribution business and assets. Mike Peters and Lauren Corbeil led the Locke Lord deal team.
- Advising NJR Midstream, a business of New Jersey Resources, in the announced acquisition of Leaf River Energy Center, LLC, from Macquarie Infrastructure Partners. The transaction is expected to close in 2019 and is valued at $367.5 million subject to closing conditions. Kevin Peter led the Locke Lord deal team.
- Provided counsel to Naturally Slim® of Dallas, a leading digital health platform and metabolic syndrome reduction program, in an acquisition by global private equity firm The Riverside Company for an undisclosed value. Through the investment, Riverside plans to expand Naturally Slim’s customer base, payor network and product capabilities.
About Locke Lord LLP
Locke Lord is a full-service law firm with global reach and 20 offices designed to meet clients’ needs in the United States and around the world. The Firm has a history that spans more than 130 years and is a leader in the middle market arena. Locke Lord focuses on providing the highest levels of commitment, quality and service to clients across its five Key Sectors: Energy and Infrastructure; Finance and Financial Services; Insurance and Reinsurance; Pharmaceutical; and Private Equity. In addition, the Firm advises clients across a broad spectrum of other industries, including fund formation, venture capital, health care, public finance, real estate, technology, cybersecurity and white collar, while providing a wealth of experience through its complex litigation, intellectual property, tax, regulatory and transactional teams