Legal Business

Gibson Dunn, Latham, Slaughters win roles on Ensco’s $839m buyout of Houston’s Oceanics

Posted on |
Corporate Gibson, Dunn & CrutcherLatham & WatkinsSlaughter and May

Gibson, Dunn & Crutcher, Latham & Watkins and Slaughter and May have won places advising on London-based offshore drilling contractor Ensco’s $839m acquisition of Houston, US’ Atwood Oceanics.

The deal, which creates a combined company valued at $6.9bn, will create the largest jackup fleet in the world with 37 offshore oil rigs.

Atwood Oceanics’ acquisition gives it current operations and drilling contracts across six continents in markets spanning the Gulf of Mexico, Brazil, West Africa, Middle East, North Sea, Mediterranean and Asia Pacific.

Latham & Watkins advised Ensco with a team lead by Houston-based energy partners Sean Wheeler and Debbie Yee. Ensco also turned to Slaughter and May corporate partner Hywel Davies for advice.

Atwood Oceanics was advised by Gibson Dunn with a team including London-based corporate partner Jonny Earle and tax partner Nicholas Aleksander. Houston based Tull Florey lead the team.

In February, Gibson Dunn confirmed it had opened a new Houston office with the firm later taking on six energy partner hires from Baker Botts. Florey, Gerry Spedale, Hillary Holmes, Shalla Prichard, and James Chenoweth joined Gibson Dunn alongside Dallas and Houston based partner Doug Rayburn.

The team joined founding partners Mike Darden, who joined from Latham & Watkins, and Justin Stolte who joined from Apache Corporation. Stolte joined Apache from Latham & Watkins in 2014. The pair previously worked at Baker Botts.

Madeleine.farman@legalease.co.uk

Legal Business

Revolving doors: DAC Beachcroft hires from DWF as Ropes partner quartet leave for Gibson Dunn

Posted on |
Strategic recruitment DAC BeachcroftGibson, Dunn & CrutcherRopes & Gray

In another active week for lateral hires, firms have expanded their ranks in the UK and internationally. DAC Beachcroft has added to its Manchester office, while ARC Pensions Law, Gibson, Dunn & Crutcher and McDermott Will & Emery have all also made key hires.

Adding to its Manchester-based employment and pensions group, DAC Beachcroft has hired Philip Harman as a partner. Harman, who joined the firm on 3 April, was previously head of DWF’s employment practice.

DAC Beachcroft head of employment and pensions Alex Lock commented: ‘I am delighted to welcome Philip to the firm and we all look forward to working with him. His depth of knowledge and aspirational nature make him a very exciting new addition to our team.’

McDermott has expanded its London restructuring and insolvency practice, hiring Alan Gar from Simmons & Simmons. Gar arrives at McDermott as a partner, bringing with him significant experience in advising financial institutions on restructuring and insolvency matters. Gar’s appointment follows a string of similar hires in the last year, with the firm appointing Piero Carbone, Michael Holter, Gary Howes and Alicia Videon into its corporate and transactional practice.

Head of McDermott’s London office Andrew Vergunst said: ‘His appointment will continue to build upon the positive momentum taking shape in London. Adding another quality lateral will enable us to further expand our client offering.’

ARC Pensions Law has also added depth to its London office by bringing in Gowling WLG’s partner Jane Kola. Kola, who is a specialist in defined contribution pension schemes, joined the firm on 18 April.

Kola said: ‘I’m convinced that the boutique law firm solution is the best for trustee and corporate clients alike, when it comes to specialist services like pensions.’

Elsewhere in the UK, Mishcon de Reya has hired Alessandra Buonfino as head of international development. Buonfino joined the firm this week, after previously acting as the head of GREAT investors programme and deputy director of the department for international trade.

In Hong Kong, Gibson Dunn has hired a four-partner team from Ropes & Gray. Among the partners moving to Gibson Dunn are the firm’s Hong Kong managing partner Paul Boltz. Joining him are private equity partners Scott Jalowayski and Brian Schwarzwalder and banking partner Michael Nicklin.

tom.baker@legalease.co.uk

Legal Business

Texas rangers: Gibson Dunn and Winston & Strawn launch new offices in the Lone Star State

Posted on |
US firms Gibson, Dunn & CrutcherWinston & Strawn

Gibson, Dunn & Crutcher and Winston & Strawn have both added to their footprints in Texas this week, simultaneously announcing new offices in Houston and Dallas respectively.

Gibson Dunn confirmed yesterday (6 February) that it had opened a new Houston office with eight partners, while Winston & Strawn has taken on 23 new partners from eight different firms and has launched an office in Dallas.

Among Winston’s new hires are Norton Rose Fulbright’s head of US business law, Tom Hughes; six partners from Fish & Richardson, including one made up from of counsel; seven from Dallas firm Locke Lord; three from Jones Day; and one each from Greenberg Traurig, Squire Patton Boggs, K&L Gates and Miller, Egan, Molter & Nelson. The Dallas office will be led by managing partners Bryan Goolsby, who is already with the firm, and Thomas Melsheimer, who joins from Fish & Richardson.

Winston has also picked up two real estate partners, Douglas Yeager and Jeffrey Smith, who will join the firm’s existing Houston office from Locke Lord.

Co-chariman Jeffrey Kessler said: ‘The firm’s ability to complete large lateral acquisitions within a short period of time, attracting prestigious attorneys from different law firms, highlights our commitment to strategic growth and integration within key practice areas and markets.’

Gibson Dunn, meanwhile, is yet to confirm which eight partners will be joining the new office in Houston but said the team would have ‘the full range of energy transactional experience’, covering public and private M&A, asset acquisitions and divestitures, and joint ventures; debt and equity capital markets; finance and restructuring; tax and regulatory matters.

The firm already has a presence in Dallas and office head Rob Walters said: ‘Our new Houston office will be initially focused on energy transactions, but we expect the office to work closely with the Dallas office and other lawyers throughout our firm to attract restructuring, litigation, appellate and regulatory opportunities.’

2016 saw both Orrick Herrington & Sutcliffe and UK firm Holman Fenwick Willan (HFW) opening in Houston, 13 partners joined Orrick for the launch including McDermott Will & Emery’s global head of energy Blake Winburne, and DLA Piper’s co-chair of global and US patent litigation Claudia Frost. In November HFW confirmed it had taken over eight-partner Houston litigation firm Legge, Farrow, Kimmitt, McGrath & Brown, giving it a US presence.

madeleine.farman@legalease.co.uk

Legal Business

Swings and roundabouts: A&O gains two in the US as former partners move to Simmons and Gibson Dunn

Posted on |
Strategic recruitment Allen & OveryGibson, Dunn & CrutcherSimmons & Simmons

As it continues its push for US expansion, Allen & Overy (A&O) has appointed two partners to its investigations and litigation practice in Washington DC. Meanwhile, a former A&O partner who had retired has resurfaced at Simmons & Simmons, while a team of four moved to Gibson, Dunn & Crutcher in Paris this week.

Gregory Mocek and Anthony Mansfield join A&O’s Washington DC office from Cadwalader, Wickersham & Taft. The pair previously served in the Division of Enforcement of the US Commodity Futures Trading Commission as the leader of its domestic and international investigations and litigation and its chief trial attorney respectively.

Mocek advises on a broad range of issues, including regulatory, government investigations, internal investigations, the Dodd-Frank Act, litigation, compliance, and operational risk. Mansfield is focused on commodities, securities and related derivatives litigation, complex commercial litigation and regulatory/enforcement matters.

However in the same week A&O has lost the head of its global technology group to Gibson Dunn. Ahmed Baladi joins the US firm with counsel Vera Lukic and associates Emmanuelle Bartoli and Adélaïde Cassanet. Baladi advises on issues relating to information technology and digital transactions, outsourcing, data privacy and cybersecurity. He joined A&O as an associate in 2001 and was made up to partner in 2010.

Simmons has also taken on former London based capital markets partner Jonathan Mellor. Mellor, who had retired at the end of last year, advises a wide range of underwriters and issuers on all types of capital markets issuance with a particular focus on the equity-linked market, building up a significant practice advising a range of issuers and financial institutions.

In November, Freshfields Bruckhaus Deringer also boosted its US platform with a Cadwalader hire in, taking corporate partner Aly El Hamamsy.

madeleine.farman@legalease.co.uk

Legal Business

Life during law: Jonny Earle, Gibson, Dunn & Crutcher

Posted on |
Life During Law Gibson, Dunn & Crutcher
legal-business-default

I don’t take anything for granted. I’ve been lucky, had some good breaks and people have invested time in me.

I can’t sing or dance. My partner thinks I’m like Carlton from The Fresh Prince of Bel-Air when I dance. That’s one reason I went into law. I fancied doing something City-based. I didn’t know what. I came out with my degree and thought: what do I want to do? I applied for a law summer scheme to see what it was like and that was it.

Legal Business

Gibson Dunn and Slaughters act for William Hill in latest gamble for gaming consolidation

Posted on |
Corporate Gibson, Dunn & CrutcherSlaughter and May
legal-business-default

Gibson, Dunn & Crutcher, Slaughter and May and Ashurst have all won roles advising William Hill and Canadian online gaming company Amaya through merger talks in a deal worth about £4.5bn.

UK-based William Hill confirmed on Saturday (October 8) it was in discussions with Amaya regarding a ‘potential all share merger of equals’. Both companies have spent 2016 reviewing options for growth, with William Hill rejecting a £3.6bn takeover bid from Rank Group and 888 Holdings in August.

William Hill turned to Gibson Dunn with London partner Jonathan Earle leading the firm’s team. The UK bookmaker sought advice on financing aspects of the deal from Slaughter and May with a team including London corporate partner Sally Wokes.

Ashurst is advising Toronto-based Amaya on UK aspects of the deal with corporate partner Karen Davies at the helm. Amaya looked to Blake, Cassels & Graydon M&A partner Jeffrey Lloyd and Osler, Hoskin & Harcourt partner Doug Bryce for advice on Canadian aspects.

William Hill turned to Slaughter and May earlier this year to guide it through the proposed takeover bid by Rank Group and 888 Holdings. Allen & Overy corporate partners Ed Barnett and Annabelle Croker advised 888 Holdings and Rank Group was advised by Norton Rose Fulbright EMEA corporate head partners Raj Karia and partner Chris Randall.

Gambling has been a lucrative sector for law firms in recent years after a spate of mergers and acquisitions. Last August Freshfields Bruckhaus Deringer, and Arthur Cox lined up on the merger between Paddy Power and Betfair for a £5bn deal. Freshfields partners Edward Braham and Oliver Lazenby led on the Betfair side, while Paddy Power turned to longstanding adviser Arthur Cox and corporate partner Maura McLaughin, as well as A&O’s Antonio Bavasso for antitrust advice.

In July 2015, Slaughters acted on Ladbrokes £2.3bn tie-up with bookmakers Gala Coral, advised by Ashurst. Slaughters corporate chief Andy Ryde led on the deal, alongside M&A partner Mark Zerdin and finance partner Ian Johnson.

madeleine.farman@legalease.co.uk

Legal Business

Ashurst changes another mind as James Perry gives up move to Gibson Dunn

Posted on |
Strategic recruitment AshurstGibson, Dunn & Crutcher
legal-business-default

Ashurst has confirmed London regulatory partner James Perry will remain at the firm, after resigning in April for Gibson, Dunn & Crutcher.

Having been a trainee at the firm from 1987, Perry clients include Skandia, Royal & Sun Alliance, Credit Agricole and Société Générale.

Perry was expected to join fellow ex-Ashurst colleagues Charlie Geffen, Jonathan Earle, Mark Sperotto, Nigel Stacey and James Cox, who previously quit Ashurst to join the US firm in London as it aims to build a full-service platform in the City.

Ashurst’s retention of Perry follows the firm confirming finance partner Nigel Ward would will also remain at the firm after resigning for Paul Hastings.

Ashurst chairman Ben Tidswell said in a statement: ‘Over the years, James has invested significantly in the firm, our clients and the team. He has decided that his priority is to continue to develop, with Jonny Gordon and Jake Green, our successful regulatory practice. Continuing to benefit from James’ considerable experience and intellect in regulatory matters will be of significant benefit to us and our clients.’

victoria.young@legalease.co.uk

For more on Ashurst see the comment piece: ‘Comment: Looking forward to Ashurst’s decline – The outlook worsens for a proud City institution’

 

Legal Business

MoFo and Gibson Dunn take a partner each from Proskauer’s City practice

Posted on |
Strategic recruitment Gibson, Dunn & CrutcherMorrison & FoersterProskauer Rose
legal-business-default

Following the news yesterday (20 August) that Proskauer Rose had hired from Dentons‘ private equity practice, the firm has lost two partners , one to Gibson, Dunn & Crutcher in private equity, and another in private investment funds to Morrison & Foerster (MoFo).

Oliver Rochman will join MoFo’s corporate practice as part of the firm’s push into European corporate capabilities and the expansion of its global private investment funds practice following the arrival of four corporate partners from Latham & Watkins.

Rochman joined Proskauer from SJ Berwin in 2011 with fellow funds partner Nigel van Zyl and six associates, in which was a large hire at the time. His practice focuses on advising international funds such as buy-out funds, infrastructure funds and funds of funds.

‘We have significantly invested in our UK Corporate practice over the last year, building a highly impressive group and deep bench of top tier partners and associates. Oliver is another important addition to the team,’ said Paul Friedman, Morrison & Foerster’s managing partner for Europe.

Meanwhile, James Howe will join Gibson Dunn’s London office, continuing his private equity and mergers and acquisitions practice at the firm.

Ken Doran, chairman and managing partner of Gibson Dunn said that continuing to build the firm’s transactional capability in London was critical to establishing the bench strength and visibility needed to achieve long term success in the UK and global markets.

Charlie Geffen, chair of the London corporate practice added: ‘James is a rising star in the London private equity arena. He has excellent technical skills, and the combination of his intellect, energy and ambition will ensure his success on our platform.’

Yesterday, Proskauer took private equity partner Eleanor Shanks from Dentons following a rapid scaling up of its private equity practice since the hire of City heavyweight Steven Davis from King & Wood Mallesons in 2014. This year, the firm has already added leveraged finance partner Ben Davis from Reed Smith and private equity real estate duo Jo Owen and Vikki McKay from DLA Piper in London. ‘Eleanor’s strong track record advising private equity players further strengthens our position in the industry as we continue to expand our presence in Europe,’ said Davis.

kathryn.mccann@legalease.co.uk

Legal Business

Revolving doors: Gibson Dunn adds New York PE strength while Bakers hires two in tax

Posted on |
Strategic recruitment Baker McKenzieGibson, Dunn & Crutcher
legal-business-default

US hires were on the cards for Baker & McKenzie and Gibson, Dunn & Crutcher, while Withers added in Hong Kong and telecoms firm Altice USA turned to Shearman & Sterling for its new general counsel.

Baker & McKenzie continued to expand its North American tax practice with two laterals into its Washington DC and Chicago offices. Tax partner David Berek’s transfer to Baker & McKenzie comes after stints as a partner at Chicago-based firm Horwood, Marcus & Berk and private wealth boutique Handler Thayer. The firm also hired Jennifer Molnar as a partner into its Washington DC office. She re-joins Baker & McKenzie from Sutherland Asbill & Brennan.

This week’s additions bring Baker & McKenzie to five new tax partner hires in the US this year, with the arrival of Patrick Cox from Withers Bergman in New York, Dan Cullen from Bryan Cave in Chicago and Steven Schneider from Goulston & Storrs in Washington DC.

Meanwhile in New York, Gibson Dunn has hired John Pollack from Schulte Roth & Zabel. Pollack was formerly the co-chair of the firm’s M&A and securities group, with major clients including Veritas Capital and Liberty Hall Capital Partners.

Gibson Dunn New York co-head Steven Shoemate said: ‘John has a substantial private equity practice that is very complementary with our M&A, private equity and investment funds practices. He will be a terrific addition to the New York office.’

Also in New York, telecoms and media firm Altice has appointed former Shearman & Sterling partner David Connolly as executive vice president and its new GC. Connelly has 14 years’ experience at Shearman working as an M&A lawyer and helped advise Altice on its acquisition of Cablevision for $10bn in June this year.

And over in Hong Kong, Withers has expanded its hotels operation by hiring corporate partner David Mallinson from Mayer Brown JSM. The hire grows the firm’s hotels and hospitality practice which was launched in March 2016 with hires in Australia and Singapore. Withers recruited Robert Williams as head of the firm’s Asia-Pacific hotels practice from Australia-based Ryan Lawyers, along with partner Justin Gross.

Williams said: ‘David extends the reach and depth of our hotels group, giving us a senior and on-the-ground presence in north Asia. This is a direct response to client demand, and highlights the firm’s commitment to our existing clients in Hong Kong and the wider region.’

matthew.field@legalease.co.uk

Legal Business

Growing the Pi: Gibson Dunn and A&O act on improved US offer for Premier Farnell

Posted on |
Corporate Allen & OveryGibson, Dunn & Crutcher
legal-business-default

Allen & Overy (A&O) and Gibson, Dunn & Crutcher have advised on an improved bid for UK-based electronics manufacturer Premier Farnell.

Gibson Dunn acted for US technology company Avnet on the offer of £691m, a 12.1% premium on the previous offer made by Swiss components manufacturer Dätwyler earlier this month.

The previous offer for Premier Farnell, which produces the Raspberry Pi minicomputer, came to an all-cash offer of £615m, a deal valuing the company at an enterprise value of £792m.

The bid by Avnet was for £1.85 per share, up on the original offer by Dätwyler of £1.65 per share, which saw Slaughter and May advising the Swiss firm.

The deal would see Avnet acquire Premier Farnell’s online services as well as the Raspberry Pi. The single-board computer is about the size of a credit card and has sold more than eight million units, making it the UK’s best-selling computer.

Premier Farnell was advised by A&O corporate partners Richard Browne and Annabelle Croker, who also acted on the original offer.

Avnet were advised by a team led by Gibson Dunn’s London corporate partner Nigel Stacey. New York corporate partner Barbara Becker acted on the US side of the deal, advising regular client Avnet.

Stacey joined Gibson Dunn’s City office from Ashurst in 2014, after being with the firm for 16 years. Earlier this month Stacey, alongside corporate head Charlie Geffen,  advised former Ashurst client Terra Firma on its sale of Odeon & UCI Cinemas Group for $1.2bn.

The offer for the electronics firm is the latest in a run of deals for UK technology companies, with ARM holdings agreeing to be acquired by Japanese group SoftBank for £24.3bn. Slaughters and Davis Polk & Wardell acted for ARM, and Morrison Foerster, Freshfields, Cleary Gottlieb Steen & Hamilton acted for SoftBank.

Slaughters and Davis Polk also faced off in the buyout of VocaLink for £700m. The Magic Circle firm acted for the UK payments systems company, while Davis Polk acted for purchasers MasterCard.

matthew.field@legalease.co.uk