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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 Atlanta serving as the firm’s headquarters. King & Spalding 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. The investment funds team is concentrated globally but within the US, has offices in Boston, Chicago, Dallas, Houston, Los Angeles, New York, Palo Alto, San Francisco and Washington D.C. The private equity team advises REITs, private equity and financial services firms in fund formations.
Founded in 1888 in New York, Willkie Farr & Gallagher is best known for its work in private equity and investment funds, especially regarding M&A. The firm has also since expanded to 12 offices across the United States and Europe, with six of those offices being in the United States. The New York office remains the hub for the firm’s operations and is its largest office. In addition to its strengths in private equity, registered funds and hedge funds, the firm also does notable work in banking, project development and restructuring and insolvency.
Foster Garvey was born in 2019 from the merger of Washington firms Foster Pepper and Garvey Schubert Barer. The resulting firm has five national offices: Seattle, Portland, Washington DC, New York and Spokane. It also has an international presence through its Beijing office. The firm has its largest office in Seattle, followed by Portland.
Focusses / specialisms
The firm is very active in the corporate and M&A practice area. It represents private equity and strategic acquirers and sellers in acquisitions. It is very active in the forestry, technology and manufacturing industries.
Key clients
Key clients for the firm include Westward Partners, Software Professionals, Eastside Dermatology, T-Star, Kingston Lumber and OMAX.
Research period review: 30th edition (2019/2020)
During the research period, the M&A team was largely on the seller’s side in acquisitions. Many of the acquisitions had a private equity aspect, whether it was the buyer or the seller.
Deal highlights: 30th edition (2019/2020)
OSW Equipment acquisition of Northend Truck Equipment
With 13 offices spread through Alaska, Colorado, Wyoming, Nevada, Idaho, Montana, Utah, New Mexico and Washington D.C., Holland & Hart is a highly regarded business firm. The firm was founded in 1947 in Denver, which remains the firm’s largest office. It is the largest Colorado-based firm as well as the largest firm in Wyoming.
Focusses/specialisms
The firm does exceptional work in financial and corporate practice areas, as well as in project development. Of note is that within the corporate practice firm wide, 50% of the partners are women.
The firm also has experience in capital markets, representing issuers in bond issuances, equity funding and recapitalizations.
In the M&A practice, the firm represents strategic sellers and acquirers in company acquisitions, asset acquisitions and strategic partnerships.
The firm’s project development and finance practice largely works on project financing. It represents developers in power purchase agreements, project acquisitions, acquisition financing and project funding. It is well known within the energy industry.
Key clients
Key clients for the firm include Roaring Fork Wind, Flying Cow Wind, MGM Resorts, Duke Energy Renewables, Summit Turquoise, Webroot, DCP Midstream, Caliber Midstream Partners, Jalex Holdings and Bow River Capital.
Gibson Dunn was founded in Los Angeles in 1890. It has since grown to 20 offices throughout four continents. In the United States, the firm has 10 offices in California, Texas, Colorado, New York and Washington D.C. Its greatest presence is in California, where it has five offices throughout the state. The firm maintains a strong presence in California, where it has top-tier M&A practices in Southern California. Additionally, its Denver, D.C., Dallas and Houston offices are standouts in their respective states in corporate practice areas. In the infrastructure sector, the firm’s projects team has advised clients on several award-winning deals in industries such as transport infrastructure.
Since its founding in 1919, Ballard Spahr has grown to 15 offices nationwide. Its largest office is in Philadelphia, which is also the firm’s founding city. In addition to Philadelphia, Baltimore and Washington D.C. have some of the firm’s largest offices. The Phoenix, Arizona office is highly regarded for its top tier work in the state. Ballard Spahr is experienced in many practice areas across its offices, including M&A, banking, capital markets, project development and real estate. The banking team represents borrowers in credit facilities, loan agreements, project financing and acquisition financing.
Full service firm Skadden is a top tier firm, especially in M&A, debt capital markets, structured finance and securitization, regulatory financial services, restructuring and insolvency and oil and gas projects. It was founded in New York in 1948 and the New York office remains the firm’s headquarters and largest office. It has since, however, expanded to 22 offices across three continents. In the United States, the firm has offices in Boston, Chicago, Houston, Los Angeles, Palo Alto, Washington D.C. and Wilmington.
Highlights
Across all its practices, Skadden is accustomed innovative transactions. The firm’s M&A department advised Activision Blizzard as the seller in its sizeable all-cash acquisition by Microsoft Corporation. This transaction broke world records in the history of the gaming industry, the technology sector, all-cash transactions and Microsoft Corporation. The firm had similar landmark success in the Japanese pharmaceutical sector, the US utilities sector and the software industry. Furthermore, the firm showed finesse in guiding clients towards authorization from Antitrust authorities and the Food and Drug Administration.
In project finance, the firm led novel transactions in the renewables sector including its representation of the lenders in a first-of-its-kind unguaranteed bridge facility with a unique tax credit sale feature. This is financing a Parliament Solar project. It also represented Pattern Energy Group in the financing of SunZia’s landmark transmission and wind projects. This deal is unprecedented for the US clean energy infrastructure sector.
Key clients
Key clients for the firm include First BanCorp, Crédit Agricole, Banco Azteca, Centene, Zillow, Bank of America, Scotia Capital, Citigroup, CEMEX, Pfizer, Morgan Stanley, PayPal, Barclays, Eaton Vance, Fair Oaks Capital, AES, BlackRock, Tennenbaum Capital Partners, Caesars Entertainment Corporation, NextEra Energy Partners, Exact Sciences, Array BioPharma, DowDuPont, The Blackstone Group, Aflac, Irish Bank Resolution Corporation, UBS, Synergy Pharmaceuticals and Stearns Holdings.
Simpson Thacher was founded in 1884 in New York, where it still maintains headquarters. The New York office is also the firm’s largest, but it has since expanded to 10 offices across three continents. In the United States, it has offices in New York, Houston, Los Angeles, Palo Alto and Washington D.C. It is best known for its top tier work in banking, debt and equity capital markets, M&A and private equity. The firm’s New York office is a market leader in financial and corporate practices and the California offices are market leaders in capital markets.
Ropes & Gray was founded in 1865 in Boston. It has since expanded globally to 11 offices in three continents. In the United States, the firm has offices in Boston, Chicago, New York, San Francisco, Silicon Valley and Washington D.C. It is best known for its work in the United States in regulatory financial services, private equity and registered funds. The firm’s Boston office is active in banking, capital markets and M&A.
Robinson Bradshaw is a full-service firm with four offices across the Carolinas. In North Carolina, it has offices in Charlotte, Raleigh and Chapel Hill. The firm also has an office in Rock Hill, South Carolina. It was founded in 1960.
Focusses / specialisms
In addition to having a strong M&A practice, the firm is also known for its banking work.
In banking, the firm represents lenders in refinancing, term loans and credit facility agreements. It is active in multiple industries including healthcare, telecommunications, industrials, manufacturing, consumer goods & services, insurance, banking and financial services and technology.
The M&A team represents strategic buyers and sellers in acquisition and merger related transactions.
Key clients
Key clients for the firm include Fresenius Medical Care Holdings, Raycom Media, Comfort Systems, Springs Global, American Stainless Tubing and Wells Fargo.
The most current iteration of full-service firm Barnes & Thornburg was born from a merger in 1982. Robert Grand serves as the managing partner of the firm, which has grown to 19 offices, plus a satellite office in 14 states. Barnes & Thornburg’s presence is felt most in Indiana and Michigan, where it does notable work in banking and finance.
Focusses/specialisms
The firm does good work in the banking and finance practice area. The team represents lenders in loan and credit facility agreements, as well as refinancing transactions. They represent many clients in the banking and financial services industry.
Greenspoon Marder is a 40-year-old firm based in coastal southern Florida.
Focusses/specialisms
The firm specializes in real estate finance, representing financial institutions as lenders and corporate entities as borrowers often. The firm is also skilled in the automotive, transportation, hospitality and restaurants, sports and entertainment and technology industries.
Key clients
A few of the firm’s key clients include BB&T, Truist Bank and Valley National Bank.
Client feedback: 32nd edition (2022/2023)
Bank lending: Borrower side
“Knowledgeable and great business sense (i.e., focusing on what was important and problem solving - deal making).”
The national firm Akerman was founded in Orlando in 1920. It now has 25 offices across 15 states, but Florida remains core to the firm and is the state where it has the largest number of offices. The firm is best known for mid-market M&A and real estate work in Florida and is active in capital markets and restructuring. Its M&A team, bolstered by the Florida offices, represents strategic and private equity buyers and sellers in acquisition-related matters, including acquisition financing. It is active on cross-border deals and across multiple industries including aerospace, waste management and automotive.
Stearns Weaver Miller Weissler Alhadeff & Sitterson is a full-service law firm with over 100 lawyers across Florida. It has offices in Miami, Fort Lauderdale, Tampa, Tallahassee and Coral Gables.
Focusses / specialisms
The firm is best known for its work in banking and M&A, but also has a notable restructuring and insolvency practice.
In M&A, the practice acts on the buy and sell side in strategic and private equity acquisitions, joint ventures and mergers. The team is particularly active in the technology and real estate industries, though it has experience with a multitude of industries. It also works with private equity firms in fund formations and investments.
The restructuring and insolvency practice advises debtors, trustees and receivers in out of court restructurings and Chapter 7 and 11 proceedings.
Key clients
Key clients for the firm include MPD Holdings, 3Cinteractive, FirstService, The Parker Company, Scout Capital Partners, BGGMC, QFK Capital, Alfred Angelo, DJ Roofing and Telepak Networks.
Client feedback: 31st edition (2020/2021)
Bank lending: Borrower side
"Issues were complex and the entire negotiation was done during the pandemic lockdown, plus I myself was stranded 8,000 miles away in another country. SWM worked through all the challenges as if they were not there. It is always a pleasure working with them."
Insolvency
"Business-oriented decision-making is prioritised over outright litigation-strategy decision-making where applicable. Extraordinary attention to detail, without extraordinary billing practices. Full service."
M&A
"Great responsiveness, slightly below market rates."
"Responsiveness, transactional acumen and collaboration."
"Proactive and very timely turnaround."
Founded in 1993, Kasowitz Benson Torres has since grown to 10 offices in eight states. The firm is headquartered in New York City, where it also has the largest office. Additionally, it has lawyers in Atlanta, Denver, Houston, Los Angeles, Miami, Newark, San Francisco, the Silicon Valley and Washington D.C.
Focusses/specialisms
The firm is known for its work in restructuring and insolvency and real estate. In real estate, the firm represents real estate developers, investors, lenders, REITs and property owners in matters including construction financing, joint ventures, acquisitions, mortgage loans, refinancing and development. Its clients work on residential, commercial and industrial developments, especially in New York.
In restructuring and insolvency, the team represents debtors, creditors and trustees in financial restructurings, Chapter 11 and Chapter 7 bankruptcy proceedings among numerous industries.
Key clients
Key clients for the firm include GFI Capital, Midtown Equities, Arbor Realty Trust, iStar, Fred’s, the Renco Group, Fairfax Financial Holdings and TPG Capital.
Client feedback: 32nd edition (2022/2023)
M&A
“Aggressive, quick study/understanding of our industry, superb command of case law and litigation process. Nice, smart people.”
Private equity
“Kasowitz attorneys are extremely attentive and responsive. They are business minded advisors who advocated aggressively for the things we are focused, while maintaining a perfect balance of the legal issues.”
Founded in 1866, Milbank has grown to 12 offices worldwide. In the United States, the firm has offices in New York, Los Angeles and Washington D.C. It is a market leader in infrastructure project development, project finance and restructuring and insolvency. While the firm has outstanding national restructuring and insolvency practice, it is a market leader in restructuring practice in California. The firm frequently advises clients on novel transactions in its banking practice as well, specifically asset financing with a specialty in the aviation industry.
Taft Stettinius & Hollister has over 100 years of experience, dating all the way back to 1885. The firm is headquartered in Cincinnati, but has 10 other offices in Chicago, Cleveland, Columbus, Dayton, Delaware (Ohio), Denver, Indianapolis, Minneapolis, Northern Kentucky and Phoenix.
Focusses / specialisms
The firm’s Indianapolis office is a market leader in Indiana in the financial and corporate practice.
In banking the team advises lenders and borrowers in real estate financing, acquisition financing, refinancing and general working capital financing.
In the corporate and M&A practice, the firm acts on the buy and sell side in strategic and private equity acquisitions, joint ventures and mergers. Many of the acquisitions are related to wider real estate transactions.
The firm also occasionally advises issuers in bond offerings as part of corporate financing as well as private equity funds in portfolio investments.
Key clients
Key clients for the firm include Federal Home Loan Bank of Cincinnati, American Municipal Power, Chiquita, Steel Warehouse Company, ForeverCar Holdings, CENX, Cummins, Hopebridge, Zotec, AMG Holdings, Edgewater Capital Partners, Jumpstart, Minnesota Vikings, Stemonix and Northmarq Capital.
Since its founding in 1877 in Pittsburgh, Reed Smith has grown a market leading firm in Pennsylvania and New Jersey. It has also expanded to 30 offices across three continents. In the United States, the firm has 18 offices in 10 states. Pittsburgh remains the firm’s headquarters and is one of its largest offices. Reed Smith is best known in Pennsylvania and New Jersey for its powerhouse financial and corporate teams. The firm excels in the mid-market area.
Murphy & King is a regional market-leading firm in restructuring and insolvency in Massachusetts. It was founded in 1980 and has since added an office in New York.
Focusses/specialisms
The firm has a top-tier restructuring and insolvency team. It represents debtors, trustees, creditors and property owners in Chapter 11 and 7 proceedings, distressed M&A and out of court restructurings.
Key clients
Key clients for the firm include Cashman Equipment, KCST USA, IDL Development and Bright Star Ventures.
Morris Nichols Arsht & Tunnell, founded in 1930, is considered one of the top firms for restructuring and insolvency work in the Delaware market. The firm is also a top firm for M&A in Delaware. Based in Wilmington, the firm is a member of TerraLex, a legal network which has over 600 offices in 100 countries.
Focusses/specialisms
The firm has a robust M&A practice, where often advises on alternative entities matters and serves as Delaware co-counsel on giant international deals. The firm works in a range of sectors and advises both acquirers and sellers.
The firm remains a go-to firm for clients partaking in or approaching Chapter 11 bankruptcies. The firm advises a range of parties including debtors, creditors, acquirers and committees.
Clifford Chance is a powerhouse across the financial and corporate sphere with highly rated partners and a deep bench in almost all areas. One of the world’s pre-eminent law firms, the firm has a significant depth and range of resources across five continents.
Cleary Gottlieb Steen & Hamilton is an international white shoe law firm headquartered in New York. Cleary is one of most well-rounded firms in the US, with strong debt capital markets, equity capital markets, derivatives, financial services regulatory, M&A, private equity and private equity funds practices.
Cravath, Swaine & Moore LLP has been known as one of the premier U.S. law firms for more than two centuries. Our partnership continues to derive strength from timeless and enduring values: a passion for lawyering as a noble calling, a commitment to pursuing excellence and a belief in the power of collaboration.
We strive to be the firm of choice for clients facing their most important and transformative transactions. Trained across multiple disciplines and equipped with a broad range of experience, Cravath’s corporate attorneys are known for devising and applying creative solutions to complex issues.
Davis Polk is an elite global law firm with world-class practices across the board. Industry-leading companies and global financial institutions know they can rely on Davis Polk for their most challenging legal and business matters. The firm’s top-flight capabilities are grounded in a distinguished history of 175 years, and its global, forward-looking focus is supported by offices strategically located in the world’s key financial centres and political capitals. The firm’s lawyers collaborate seamlessly across practice groups and geographies to provide clients with exceptional service, sophisticated advice and creative, practical solutions.
In London, the firm operates as Davis Polk & Wardwell London LLP; in Hong Kong, as Davis Polk & Wardwell, Hong Kong Solicitors; in Brussels, as Davis Polk & Wardwell Brussels LLP; and in Brazil, as Davis Polk & Wardwell, Consultores em Direito Estrangeiro/Norte-Americano e Inglês.
- 300+ partners recognized, Chambers & Partners, all publications (2017)
- 250+ partners recognized, The Legal 500, all publications (2107)
- Most recognized for client service, BTI Client Service A-Team (2002-2017), one of only three firms on the list for each of the last 15 years
- Top 5, Who Represents America’s Biggest Companies, Corporate Counsel (2010-2016)
- Top 10, Acritas US Law Firm Brand Index (2013-2016)
- Most Lateral Growth among Am Law 200 Firms, ALM Lateral Reports (2016)
- Top 10, Am Law 100, The American Lawyer (2016)
- Top Three, Largest Firms in the US, Law360 (2016)
*Our Beijing and Shanghai offices operate as representative offices of Morgan, Lewis & Bockius LLP. In Hong Kong, Morgan Lewis operates through Morgan, Lewis & Bockius, which is a separate Hong Kong general partnership registered with The Law Society of Hong Kong as a registered foreign law firm operating in association with Luk & Partners.
Morrison & Foerster is a global firm with more than 1,000 lawyers across 17 offices in the US, Europe and Asia. The firm is widely recognised for providing its clients, which include some of the world’s largest financial institutions and Fortune 100, technology and life science companies, with legendary service. Clients rely on the firm for innovative and business-minded solutions. Morrison & Foerster’s lawyers share high standards, a commitment to excellence and a passion for helping their clients succeed, resulting in enduring relationships and a record of high achievement. They also are among the leaders in the field for their longstanding commitment to pro bono work and diversity.
Founded in 1951, Paul Hastings has grown into a global powerhouse with more than 1,500 lawyers in the U.S., Europe, Asia, Latin America and the Middle East.
The firm provides superior intellectual capital and execution to the world’s leading investment banks, asset managers and corporations. With elite teams in 17 core practices, we have earned a well-deserved reputation as a top international firm, with a trajectory of continued growth and success.
Our teams work closely with clients to understand their unique businesses and anticipate the challenges that may lay ahead. Our efforts helping them secure the best possible results in their most important matters have earned us a wide range of industry-leading honors and awards.
When clients come to Ropes & Gray, they find a global team of more than 1,200 professionals, whose top-notch skills, varied backgrounds and unique perspectives can help them meet high-stakes challenges, solve complex problems and reach their goals. An international presence, the firm has offices in New York, Washington, D.C., Boston, Chicago, San Francisco, Silicon Valley, London, Hong Kong, Shanghai, Tokyo and Seoul.
Many of the world’s most respected companies and institutions are longtime clients. We also serve many organizations (and investors and individuals) at all stages of the business life cycle, from start-ups to established as industry leaders. They come back to us year after year to handle their most important matters. They do so, they say, because we understand their businesses, we are easy to work with and we get results.
The firm is built on a foundation of delivering a premier, value-added service at a reasonable cost. Because our clients have unique business needs, including in some cases a preference to work on the basis of alternative fee arrangements, we are flexible and creative in designing custom-tailored pricing plans where appropriate.
Ropes & Gray has always focused on providing clients with the highest quality advice on their most critical legal and business needs. We’re a thoroughly contemporary firm that can bring 150 years of legal and institutional history to bear on the challenges clients face in today’s global, networked, 24/7 environment. Our collaborative approach means that our clients have ready access to leading corporate, litigation, transactional and regulatory lawyers whose knowledge and experience span industries and geographies.
For further information please visit our website:
Mayer Brown is a distinctively global law firm, uniquely positioned to advise the world’s leading companies and financial institutions on their most complex deals and disputes.
With extensive reach across four continents, we are the only integrated law firm in the world with approximately 200 lawyers in each of the world’s three largest financial centers—New York, London and Hong Kong—the backbone of the global economy.
Skadden is a leading firm in the US for debt capital markets, M&A, structured finance, restructuring and insolvency, financial services regulatory, and also maintains excellent banking, equity capital markets, project finance, project development, hedge funds and private equity practices. A powerhouse corporate firm, anything related to acquisitions is squarely in the firm’s wheelhouse.
Latham & Watkins stands out in the US legal market for its banking, M&A, private equity, debt capital markets, high-yield capital markets, equity capital markets, project finance and project development practices, making it another contender for the title of most versatile corporate firm in the US.
White & Case is a truly global law firm, uniquely positioned to help our clients achieve their ambitions in today's G20 world. As a pioneering international law firm, our cross-border experience and diverse team of local, US and English-qualified lawyers consistently deliver results for our clients. In both established and emerging markets, our lawyers are integral, long-standing members of the community, giving our clients insights into the local business environment alongside our experience in multiple jurisdictions. We work with some of the world's most respected and well-established banks and businesses, as well as start-up visionaries, governments and state-owned entities.
Founded in 1926, Cole Schotz has been proud to serve their community. With over 215 attorneys we are guaranteed to be able to help you win your case.
For 100 years, our success has been largely influenced by a focus on the client experience. With a firm history long enough to remember rotary phone calls blended with our modern-day capability to tap into cloud-powered platforms as communication tools, we continue our tradition of customer service by always echoing your style.
At Loeb, we advise banks, investment funds and other financial institutions in financing transactions of every size and type, from senior secured debt facilities, convertible debt, leveraged acquisitions and asset-based lending to private investment in PIPE transactions, life insurance premium financings, and cross-border loans. We also represent borrowers in these same transactions. We handle every stage of financing, from the structuring of proposals through negotiation, documentation and closing, and the administration of credit facilities and issuance of debt securities.
As a multiservice law firm with approximately 450 lawyers across eight offices in the U.S. and Asia, we have you covered.
Wachtell, Lipton, Rosen & Katz is one of the most prominent business law firms in the United States. The firm’s pre eminence in the fields of mergers and acquisitions, takeovers and takeover defense, strategic investments, corporate and securities law, and corporate governance means that it regularly handles some of the largest, most complex and demanding transactions in the United States and around the world. It features consistently in the top rank of legal advisors. The firm also focuses on sensitive investigation and litigation matters and corporate restructurings, and in counseling boards of directors and senior management in the most sensitive situations. Its attorneys are also recognized thought leaders, frequently teaching, speaking and writing in their areas of expertise.
Seward & Kissel, founded in 1890, is a leading U.S. law firm with an international reputation for excellence. We have offices in New York City and Washington, D.C.
Our practice primarily focuses on corporate and litigation work for clients seeking legal expertise in the financial services, corporate finance and capital markets areas. The Firm is particularly well known for its representation of major commercial banks, investment banking firms, investment advisers and related investment funds (including mutual, hedge and private equity funds), broker-dealers, institutional investors and transportation companies (particularly in the shipping area).
The Firm’s attorneys are very experienced and highly regarded in their respective practice areas. Many have been with the Firm for most, if not all, of their legal careers. Our focus and expertise, combined with the Firm’s stability, have enabled us to create a work culture that is dedicated to professional excellence and sound judgment, and that is committed to providing our clients with effective, high quality, hands-on legal service.
Carter Ledyard & Milburn LLP (“Carter Ledyard”) is a general practice law firm headquartered in the Financial District in Manhattan. Carter Ledyard provides clients with partner-led matters, enabling seasoned lawyers with years of experience to lead and guide the strategy and communicate with clients meaningfully.
We offer sophisticated legal advice within a culture that encourages innovative problem-solving. We use the latest technologies to facilitate swifter and better communications and service. We are available when our clients need us to be available. We are easy to work with. Our clients stay with us because of the quality and efficiency of the service we provide, and because we understand and care about their businesses.
Building on a foundation of 169 years of legal service, we continue to maintain and develop the broad experience and diverse skills necessary to assist our clients in anticipating and managing business and personal matters in often fast-paced, changing environments.
Husch Blackwell is an industry-focused law firm with more than 20 offices across the United States, including its virtual office, The Link. The firm represents clients around the world in major industries including energy and natural resources; financial services and capital markets; food systems; healthcare, life sciences and education; real estate, development and construction; and technology, manufacturing and transportation.
Stinson LLP collaborates with clients ranging from individuals and privately held enterprises to national companies and international public corporations. Our accomplished attorneys leverage deep knowledge and experience to deliver practical guidance, helping clients minimize risks and realize opportunities. We take pride in our collaborative approach, our lasting relationships and our unique perspectives. Connect with us at one of our 13 offices nationwide and at stinson.com.