M&A - Creating Opportunities and Building Alliances - PART 4

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Robert J. Viguet, Jr. Energy Construc5on Forum Thompson & Knight LLP

Transcript of M&A - Creating Opportunities and Building Alliances - PART 4

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Robert  J.  Viguet,  Jr.  

Energy  Construc5on  Forum  

Thompson  &  Knight  LLP  

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o  Established  in  1887  

o  Full-­‐service  firm    

o  Approximately  330  aLorneys  

o  U.S.  offices  in  Texas,  New  York,  and  California  

o  Interna5onal  offices  and  associa5ons  in  the  Americas,  North  Africa,  and  Europe  

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About  Thompson  &  Knight  

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o  Named  “Law  Firm  of  the  Year”  in  Oil  &  Gas  Law  in  the  2011/2012,  2013,  and  2015  edi5ons  of  Best  Law  Firms,  the  preeminent  lis5ng  of  the  na5on’s  top  legal  prac5ces  from  the  publishers  of  U.S.  News  &  World  Report  and  The  Best  Lawyers  in  America®  

o  Thompson  &  Knight’s  corporate/M&A  team  is  known  for  its  “excellent  midmarket  prac6ce  focused  on  energy  transac5ons  in  the  upstream  space”  according  to  Chambers  USA  2014  by  Chambers  &  Partners.  

 

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Recent  Accolades  

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o  Energy  Construc5on  Company  sales,  financings,  and  leveraged  recapitaliza5ons  

›  Industry  consolidators;  private  equity  firms  

›  Entrepreneurs  who  build  and  sell  their  business    

›  Corporate  sales,  asset  sales,  and  joint  ventures  

›  Secured  financing,  mezzanine  financing,  and  private  equity  investment  

›  Leveraged  recaps  4  

Energy  Construc5on  Exper5se  

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o  Leveraged  Recaps  –  popular  structure  

›  Allows  owners  of  energy  construc5on  firms  to  “take  chips  off  the  table”  –  typically  65-­‐80%  of  the  value  

›  Requires  con5nued  employment  of  owners  and  key  execu5ves  for  several  years  and  provides  incen5ves  to    grow  the  Company    

›  Former  owners  retain  a  minority  stake  and  typically  hold  management  and  board  posi5ons  

›  Private  equity  or  industry  sponsor  provides  the  Company  with  financial  support  and  growth  opportuni5es  

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Energy  Construc5on  Exper5se  

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o We  have  par5cular  experience  helping  clients  in  the  midstream  sector  with  joint  ventures  and  partnerships  

›  Assist  in  the  forma5on  of  joint  ventures  for  the  development,  construc5on,  acquisi5on,  and  opera5on  of  pipelines  and  processing  and  treatment  plants  

›  Advise  on  the  construc5on  and  opera5on  of  jointly  owned  pipelines  

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Energy  Construc5on  Exper5se  

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o  Related  legal  services  for  energy  construc5on  clients:  

›  Labor  and  Employment  advice  and  regulatory  compliance  

›  Dispute  resolu5on  –  trial,  arbitra5on,  and  media5on  

›  Treasury  Support  -­‐    swaps  and  deriva5ves,  leLers  of  credit,  bonding,  and  collec5ons  

›  Contract  nego5a5on  and  documenta5on;  bidding    

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Energy  Construc5on  Exper5se