Georgia (US)

IFLR1000 Reviews

Financial and corporate
Arnall Golden Gregory

Arnall Golden Gregory was founded in 1949 and has since grown to two offices in Atlanta, Georgia and Washington DC. 

 

Focusses / specialisms

The Georgia team is well known for their work in the M&A practice area.

The firm as a whole also does notable work in banking and finance and restructuring and insolvency. 

The banking and finance team represents borrowers and lenders in loan facilities, working capital credit lines, bond financing, public financing, project financing, securitizations, refinancings and acquisition financing.

The M&A team represents private equity and strategic buyers and sellers in acquisition related matters.

The restructuring and insolvency team represents creditors, debtors, receivers and trustees in financial restructurings and Chapter 11 cases.

 

Key clients

Key clients for the firm include Horizon Telecom, Imperial Capital, Development Authority of Fulton County, Thyssenkrupp Elevator, Ares Commercial Finance, American Express, Sysco and Beaulieu International Group.

 

Research period review: 30th edition (2019/2020)

Throughout the research period the banking and finance team advised both borrowers and lenders in a large amount of working capital credit lines and term loan agreements.

The M&A team represented largely strategic buyers and sellers in acquisition related matters across a wide variety of industries including telecommunications, financial services and real estate. 

The restructuring and insolvency team represented numerous receivers, trustees and debtors mostly in financial restructurings. The team did also work on some Chapter 11 bankruptcies.

Partner Lisa Payrow left the corporate practice and moved in-house in 2019. 

 

Deal highlights: 30th edition (2019/2020)

Fulton-DeKalb Hospital Authority $120 million bond financing

LakePoint Land restructuring

Novacap $220 million acquisition of Horizon Telecom

Pioneer Health Services restructuring

Rollins $425 million financing

WEX Bank $153 million acquisition of FleetCor Technologies

Duane Morris

Full-service firm Duane Morris got its start in Philadelphia but has since expanded to 29 offices over three continents. In the United States, the firm has 22 offices spread through the country. Though the firm is headquartered in Philadelphia, the New York offices are among the firm’s largest.

 

Focusses / specialisms

With 22 offices spread out across the country, it is safe to say that each of Duane Morris’ locations have different expertise. Throughout the firm, there are teams in the banking, capital markets, M&A and restructuring and insolvency practices. 

The banking practice has teams of note in Florida, Illinois and Pennsylvania. It represents borrowers and lenders in credit facilities and term loan agreements for general working capital financing, acquisition financing, construction financing and real estate financing. The Florida offices specializes in real estate financing.

The restructuring and insolvency practice has teams in New York, Los Angeles, Chicago, Philadelphia, San Diego, San Francisco, Boston, Atlanta, Miami, Pittsburgh, Newark and Wilmington. The teams represent debtors, trustees, receivers and creditors in Chapter 11 bankruptcy and restructuring proceedings. 

The firm’s capital markets teams represents issuers in share offerings, tender offers, SPAC formations and bond issuances. The teams also represent private equity firms and companies with debt and equity investment financing. Many of these capital markets transactions support larger M&A and/or financing transactions. 

In M&A, teams represent strategic and private equity clients in acquisitions on both the buy and sell side. It also advises clients in privatizations, joint ventures and mergers. Given its geographic reach, the firm has experience in all industries. Some of these acquisitions are public M&A transaction and have an associated capital markets transaction.

 

Key clients

Key clients for the firm include CIBC, Wells Fargo, Pennsylvania Turnpike Commission, Centennial Bank, Synovus Bank, JP Morgan Chase Bank, Quality Carriers, Altman Specialty Plants, New England Compounding Pharmacy, the Government Employees’ Retirement System of the Virgin Islands, Pipeline Health, Nueva Generacion Manufacturas, Clock Spring Company, Pipeline Health, Camden Partners, iAnthus Capital Holdings, Intermarket Communications, JDP Therapeutics, Catalent, National Gas & Electric and AT&T. 

 

Research period review: 30th edition (2019/2020)

Over the research period, the banking teams represented borrowers and lenders in credit facilities and term loan agreements. The Illinois office worked on more acquisition and construction financing transactions while the Pennsylvania offices worked on more general working capital financing.

The California offices largely represented receivers. The capital markets team conducted a variety of work on both the debt and equity side. Most of the capital markets work was done as part of a larger acquisition transaction. In M&A, the teams represented private equity and strategic firms across a wide assortment of industries.

The Florida offices represented financial sponsors and property owners in commercial real estate financing. The restructuring and insolvency teams worked on numerous Chapter 11 and 7 proceedings, representing mostly creditors and debtors.

The Maryland and Pennsylvania offices specifically worked with numerous private equity firms. The New York office worked with several firms in the cannabis industry. 

In February 2020, Duane Morris merged with Satterlee Stephens. This gave the firm three additional offices in New York and New Jersey. 

 

Deal highlights: 30th edition (2019/2020)

Altman Specialty Plants Chapter 11 restructuring

Catalent $40 million acquisition of Juniper Pharmaceuticals

Clock Spring Company / Neptune Research merger

CSL Flagstaff $80 million acquisition and construction loan 

iAnthus Capital Holdings / MPX Bioceutial merger

 

Client feedback: 30th edition (2019/2020)

M&A

“The firm has a deep bench of highly skilled counsel across a broad array of subjects. The firm also acts as a fierce advocate for the client and because of the expertise of its counsel the firm is able to foresee issues before they become problems.”

“Efficiently uses resources to get client objectives done. Does not waste client money with busywork.”

“Very reachable/available when needed. Easy to work with – and to translate M&A issues into simpler language and concepts for non-M&A attorneys.”

King & Spalding

Since its founding 135 years ago in 1885, King & Spalding has grown to 22 offices across three continents. In the United States, the firm has 11 offices, with its first office in Atlanta serving as the firm’s headquarters.

 

Focusses / specialisms

The firm is a market leader in corporate law in Georgia, but also has a strong presence in North Carolina. Firm wide, it has an especially strong oil and gas project development practice.

In banking work the firm represents borrowers and lenders in credit facilities and term loans for refinancing, acquisition financing and general corporate financing.

The capital markets team has experience on the debt side representing both issuers and underwriters in investment grade, convertible and high yield bond issuances.

The team also has experience in structured finance and securitizations, where it advises underwriters and lenders.

The investment funds team is concentrated globally but within the US, has offices in Chicago, Houston, Los Angeles, New York, Palo Alto, San Francisco and Washington DC.

In M&A the firm advises clients in strategic acquisitions, mergers and joint ventures. The team acts on both the buy and sell side. In conjunction with the M&A team, the private equity practice advises private equity firms in buy and sell side acquisitions.

The private equity team is highly regarded with their work in the energy, oil and gas, infrastructure, healthcare and life sciences industries, especially regarding acquisitions.

With the help of the private equity team, it advises REITs, private equity and financial services firms in fund formations.

The restructuring and insolvency practice maintains US teams in New York, Atlanta, Chicago and Houston. It represents government entities, debtors and creditors in distressed M&A transactions and Chapter 11 proceedings. In the projects practice, members advise financial sponsors and developers in projects in the oil and gas, infrastructure and energy industries. This includes construction, financing and acquisition.

 

Key clients

Key clients for the firm include Crédit Agricole, Citizens Bank, GSO Capital Partners, SunTrust Banks, Total System Services, Carter’s, Barclays Capital, Credit Suisse Securities, RBC Capital Markets, TSYS, Americold Realty Trust, BlueMountain Capital Management, Greystar Real Estate Partners, Prologis, Asana Partners, Government Development Bank of Puerto Rico Debt Recovery Authority, Monitronics, Jack Cooper Investments, Anadarko Petroleum, Bayport Polymers and NextDecade.

 

Research period review: 30th edition (2019/2020)

Over the research period, the banking team represented mostly lenders in refinancing, acquisition financing and general corporate financing.

In debt capital markets, the team was mostly on the issuer side for a fairly equal mix of investment grade, convertible and high yield bond issuances.

The investment funds practice, with the assistance of the private equity practice, advised private equity firms, REITs and asset management firms in fund formations.

The M&A and private equity teams worked together to advise private equity and strategic acquisitions and mergers. Energy, oil and gas, infrastructure were big industries for the practice. 

The restructuring and insolvency team worked largely on Chapter 11 proceedings, representing lenders. The project practice advised sponsors largely in oil and gas projects, specifically regarding LNGs. 

In terms of lateral moves, partners Justin Riess, Chris Molan and Jessica Standera left the banking practice. Partner Jonathan Arkins joined the structured finance and securitization team from Arnold & Porter. The investment funds practice recruited partner Conrad Axelrod from Schulte Roth & Zabel and private equity partners Christopher Chan and Christopher Gandia from Willkie Farr, Kate Luarasi from Proskauer Rose, Bryan McGee and Jeff Wolf Schatz from Simpson Thacher and Townshine Wu from Wachtell Lipton. The corporate and M&A practice brought over partners Erik Belenky from Jones Day and Larry Yanowitch, Tom Knox, Charles Katz and Jeremy Schropp from Morrison & Foerster. In projects, the firm brought over partners Ingrid Myers from Morgan Lewis, David Lang from Baker McKenzie, Alan Noskow from Manatt Phelps & Phillips and William Gordon who moved from an in-house position. The team also saw the retirement of partner Ken Culotta and departure of partners Vera de Gyarfas who moved to Mayer Brown and Dan Rogers who moved in-house. The restructuring and insolvency team recruited partners Matthew Warren and Roger Schwartz from Latham & Watkins, Andrew Brereton from Clifford Chance and Peter Montoni who came from in-house. Partners Jeffrey Pawlitz and Bradley Giordano left the firm. 

 

Deal highlights: 30th edition (2019/2020)

Americold Realty Trust $1.24 billion acquisition of Cloverleaf Cold Storage

Atmos Energy $1.5 billion refinancing

BB&T / SunTrust Banks merger

Bayport Polymers $1.2 billion acquisition of Borstar polyethylene plant

Dine Brands Global $225 million and $1.3 billion bond issue

Government Development Bank of Puerto Rico Title VI restructuring

Greystar Real Estate Partners X

UPS $1.5 billion 2.2%, 2.5%, 3.4% triple tranche bond issue

Nelson Mullins Riley & Scarborough

Nelson Mullins Riley & Scarborough was founded in 1897 in Columbia, South Carolina. The Columbia location still stands as the firm’s headquarters but has since expanded to 25 total locations across 12 states, largely in the southeast. Though the firm has the most locations in Florida it is also highly regarded in South Carolina.

 

Focusses / specialisms

The full-service firm is especially active in the banking, M&A and restructuring and insolvency practice areas. 

In banking the team works on acquisition financing, construction financing, real estate financing, project financing, refinancing and general corporate financing. It acts for borrowers and lenders.

The firm’s M&A practice is concentrated in the Georgia, South Carolina, Florida, Maryland, Massachusetts and Tennessee locations. It is focused on the mid-market, advising strategic clients on both the buy and sell side.

The restructuring and insolvency team acts for trustees, creditors, debtors and other related parties in Chapter 7 and 11 proceedings and reorganizations. Also of note is the Floridian real estate teams, which are market leaders in the state.

 

Key clients

Key clients for the firm include Avenger Flight Group, Amzak Capital Management, Chemical Finance Corporation, CenterState Financial Corporation, Cosmopolitan Travel Services, Sprinturf, PIETech, and Lime Energy.

 

Research period review: 30th edition (2019/2020)

Throughout the research period the banking and finance team assists both borrowers and lenders. The South Carolina partners focused more on acquisition financing, while the Floridian offices focused on project financing and real estate financing.

The M&A team worked on the buy and sell side in a large amount of deals in the banking and financial services and technology industries. The deals were both strategic acquisitions and private equity acquisitions.

The restructuring and insolvency team in mostly Chapter 7 proceedings, but also a significant number of Chapter 11 proceedings. 

Regarding lateral moves, the corporate and M&A practice brought over numerous partners. M&A focused partners Adele Hogan moved over from Hogan Law, Andrew Tucker from Womble Bond Dickinson and Michael Bryan from K&L Gates. Corporate partners James Bartling and Sabring Conyers moved from in-house positions. In the Florida real estate practice, partners JJ Johnson, Michelle Tanzer and William Liss. The partners came from Johnson Real Estate Law, GrayRobinson and Santen & Hughes, respectively. 

 

Deal highlights: 30th edition (2019/2020)

Avenger Flight Group $120 million financing

Chemical Bank / TCF Financial merger

PG&E Chapter 11 restructuring