Q1 2023 Deal Flow Doubled From Q1 2022, Exceeding $50 Billion in Value YTD

New York – Despite the broader market headwinds for corporate finance and M&A deals, the Paul Hastings premier Global Finance practice’s Q1 2023 deal flow increased year-over-year by 100% over the first quarter of 2022. Continuing its strong momentum into 2023, the robust team of 150+ finance lawyers represented more than 80 direct lenders and 50 investment banks in nearly 100 deals across varied industries including technology, healthcare, energy, and others.

The success of the firm’s Global Finance practice has been further bolstered by recent elite lateral additions, including the New York-based partner trio of Marc Lashbrook, Josh Zelig, and David Barash from Cahill; New York and London partners Morgan Bale, Patrick Bright, and Alexander Horstmann-Caines from Weil; and a top-ranked global finance team comprising Mo Nurmohamed, Ross Anderson, Karan Chopra and Rob Davidson from Latham & Watkins.

Representative recent highlights include:

• Advising Goldman Sachs on the bridge financing for ONEOK’s $18.8 billion acquisition of Magellan Midstream Partners, a publicly traded petroleum transporter and distributor;
• Advising a syndicate of direct lenders in one of the largest direct lender financings of 2023 for Thoma Bravo LP’s $8 billion take private acquisition of Coupa Software;
• Representing the lender syndicate in Veritas Capital’s $3.1 billion acquisition of Wood Mackenzie, an energy research & consultancy business;
• Advising Carlyle Global Credit Platform in the debt financing of Clayton, Dubilier & Rice’s £2.3 billion acquisition of the OCS Group and various subsidiaries of La Financiere Atalian to form a global facilities management platform;
• Representing Morgan Stanley in the bridge financing for RenaissanceRe’s $2.895 billion acquisition of American International Group’s treaty reinsurance business;
• Advising Arcmont Asset Management in the unitranche debt financing of the €1.4 billion acquisition by Five Arrows and Providence Equity of A2MAC1, a leading provider of automotive industry engineering and technical benchmarking services;
• Advising a Goldman Sachs-led syndicate of underwriters in connection with the issuance of $1.0 billion Senior Guaranteed Notes due 2028 by CSC Holdings, LLC, a subsidiary of Altice USA;
• Representing the initial purchasers in connection with offerings of $1.025 billion in senior secured notes issued by Jones DesLauriers Insurance Management, Canada’s industry-leading insurance and risk-management brokerage firm;
• Advising the lenders on a €1.9 billion senior loan for RUBIX, Europe’s largest industrial supplier of maintenance, repair and overhaul products and services; and
• Advising Isabel Marant on a high-yield offering of €265 million of senior secured notes.

The practice is consistently ranked among leading legal advisers and is regularly recognized for its high-profile and complex work in the U.S., UK, and other key international markets. Recently, the practice won the “Team of the Year: Loans” award at the IFLR Europe Awards 2023 and was shortlisted for 2023 “Banking Law Firm of the Year” by Chambers USA.

About Paul Hastings

With widely recognized elite teams in finance, mergers & acquisitions, private equity, restructuring and special situations, litigation, employment, and real estate, Paul Hastings is a premier law firm providing intellectual capital and superior execution globally to the world’s leading investment banks, asset managers, and corporations.