JD Journal » acquisitions

Steptoe Expands Energy Practice Goes To Pennsylvania

eric — Tue, 27 Jul 2010 15:37:21 +0000

Beginning September 1, Steptoe & Johnson PLLC will put in to action a significantly expanded energy practice, says PR Web. The expansion results from the acquisition of western Pennsylvanian firm Culbertson, Weiss, Schetroma and Schug. That firm is headed by Russell Schetroma, whose practice focuses on oil and gas transactions, most notably within the Marcellus shale. The shale has gained a lot of attention in recent debates over energy dependence and cleaner fuels. It contains largely untapped natural gas reserves, and its proximity to the high-demand markets along the East Coast of the United States make it an attractive and potentially lucrative target for energy development.

As the result of the acquisition, Steptoe will add an office in Meadville, Pennsylvania, facilitating further service to the firm’s Appalachian clients. The addition of the Schetroma firm will boost the firm’s rapidly growing energy practice to over 190 attorneys and professionals.

Clark Hill Reels In Chicago IP Team

eric — Wed, 30 Jun 2010 14:07:40 +0000

: The Detroit based firm Clark Hill PLC has, through lateral hires at its Chicago office, absorbed the Chicago based, boutique intellectual property firm Trexler, Bushnell, Giangiorgi, Blackstone & Marr. The Trexler firm, which focused its practice on patent, trade secret, copyright, and trademark matters, brings all 8 of its attorneys plus staff bringing Clark’s nationwide attorney headcount to 208.Crain’s Detroit Business

Clark CEO John Hern praised the acquisition and the new depth it will bring to the firm’s IP practice, “Extending our practice will allow us to offer greater value to our clients worldwide through a more complete level of service.

Clark Hill is a full service law firm focused on business legal services, government and public affairs and personal legal services. Since its opening in 1890, Clark Hill has represented a diverse spectrum of clients ranging from individuals and new business entities to Fortune 500 corporations. The firm has offices in Detroit, Lansing, and Grand Rapids, Michigan as well as offices in Chicago, Phoenix, Washington, D.C. and Birmingham, Alabama.

Howrey + Day Casebeer Merger Is Final

Erik Even — Thu, 02 Jul 2009 18:25:02 +0000

Howrey, which we reported a little over a week ago was in talks to acquire scandal-plagued intellectual property firm Day Casebeer, has announced that the merger is official.

Twenty-five of the 26 attorneys at Day Casebeer joined Howrey’s Palo Alto, California office, effective this week.

The partners include James Batchelder, Linda Sasaki-Baxley, Renee Dubord Brown, Lloyd Day Jr., Robert Galvin, Paul Grewal, Jonathan Loeb, Jackie Nakamura and William Nelson (no, not that Willie Nelson). They bring along 16 associates.

The acquisition of Day Casebeer will give Howrey 115 lawyers in San Francisco and Palo Alto.

Howrey LLP was founded as Howrey, Simon, Baker, & Murchison in 1956, and was the first national anti-trust law firm. It has more than 725 attorneys in 17 locations worldwide.

Slater & Gordon Sees Double-Digit Net Profit Increase

Erik Even — Thu, 26 Feb 2009 19:42:32 +0000

Australia’s Slater & Gordon, the world’s first publicly traded law firm, reported a 22.4% increase in net profit for the six months leading up to December 31st 2008.

The 160-lawyer firm reported profits of $8.46 million, up from $6.9 million for the previous six-month period. S&G’s revenue increased 35% to $50.5 million over the same time frame.

The firm is looking at acquisition opportunities, and expects earnings to rise into the second half of 2009.

S&G went public in Australia in May 2007. The IPO was the first for a law firm, after new legislation went into effect Down Under permitting the investment of non-lawyers. With a similar law to be enacted in the UK in 2011, S&G’s listing drew the interest of many British firms.

It’s highly unlikely that the US legal industry, governed by a hodgepodge of state laws and federal regulations, will adopt anything similar involving public ownership.

Slater & Gordon has acquired nine other firms within the past year, most recently scooping up the personal injury practice of Brisbane firm Carter Capner.

Slater & Gordon, founded in Melbourne in 1935 by William Slater & Hugh Gordon, is an Australian plaintiff law firm employing over 600 people across Australia.

Two Join Greenberg Traurig’s Bankruptcy Practice

Erik Even — Wed, 14 Jan 2009 22:02:06 +0000

Another ex-Cadawalderer has landed a new gig: Bruce Zirinsky, the New York firm’s long-time financial restructuring group head, has joined Greenberg Traurig’s Big Apple office, along with long-time colleague John Bae. Zirinsky joins as co-chairman and Bae as senior member.

For over 30 years, Zirinsky has represented debtors, creditors, investors and other parties in large and complex restructurings, reorganizations, acquisitions, financings and litigation, covering a broad range of industries and issues. His was a lead role in the successful Chapter 11 reorganization of Northwest Airlines.

Bae has practiced in the bankruptcy & reorganization field for almost 20 years, working closely with Zirinsky.

Greenberg Traurig’s business reorganization & bankruptcy practice numbers 80 lawyers worldwide and is co-chaired by Keith Shapiro of the Chicago office and Mark Bloom of Miami.

The 8th largest firm in the US, Greenberg Traurig employs more than 1,800 attorneys throughout the world.

Rumor: King & Spalding to Acquire Most Thacher Proffitt counsel [Update]

Erik Even — Thu, 11 Dec 2008 20:24:17 +0000

Via Law.com:

Atlanta-based King & Spalding is in talks to acquire most, but not all of Thacher Proffitt & Wood’s lawyers, according to the Legal Times. In order to avoid dissolution, New York-based Thacher hopes to find a partner to acquire it, these sources say.

One New York legal consultant says the discussions have been ongoing for the past three to four months, and that the firms hope to reach an agreement by year-end. The consultant says King & Spalding is considering taking on about 100 of Thacher’s 195 lawyers, but that it’s not yet clear which practices and offices the 100 lawyers would come from. “There’s a tremendous amount of uncertainty about who’s going to be invited to the party,” says the consultant, who asked not to be named.

Thacher currently has 180 lawyers in New York, nine in Washington, and six in its Summit, N.J., office. Its overall headcount is down more than 100 lawyers compared to last year — and so are its profits. Profits per partner fell more than 22 percent in 2007 to $1.02 million, according to the Am Law 200.

Thacher Proffitt was founded in 1848. The firm had offices in the World Trade Center on 9/11. The firm used to operate offices in Mexico City and White Plains, New York — those offices have since decamped to Chadbourne & Parke andGreenberg Traurig respectively.

King & Spalding is Atlanta’s oldest law firm, founded in 1885. It has 13 offices in the US, UK and the Middle East.

UPDATE

The WSJ Law Blog says:

The New York consultant and another individual familiar with the discussions say that if the deal falls through, Thacher Proffitt will likely go under.