M E R G E R S A N D AC Q U I S I T I O N S AWA R D S 2 0 2 0
Activity dipped last year, but things were shaping up to improve in 2020. Then came COVID-19.
RESETTING THE M&A MARKETPLACE
story by BRANDON J. CALL
after a burst of energy-related transactions in 2018, m&a activity in texas tapered off last year, with the number of deals down 25 percent and total volume down 23 percent. Still, Dallas-Fort Worth companies were involved in several notable business combinations. They include Irving-based Nexstar Media Group’s $7.1 billion acquisition of Tribune Media, Frisco-based Comstock Resources’ $2.2 billion purchase of natural gas operator Covey Park, and Plano-based LegacyTexas Financial Group’s sale to Houston’s Prosperity Bancshares for $2.1 billion. As the coronavirus pandemic brings the economy to a halt with shutdowns and layoffs, the 2020 prognosis for private markets is a mixed bag. According to Pitchbook analysts, private equity dealmaking will likely decline, although it will take a month or two to show up in reports. On the other hand, distressed assets will be at a premium, and analysts say a global recession could spark heavy debt buys. In the weeks prior to the pandemic, more than 70 percent of Texas businesses with 100 or more employees were planning M&A activity, according to a West Monroe Partners study.
DEALMAKERS OF THE YEAR
North Texas M&A professionals leading the way.
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M AY 2 0 2 0
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P R IVATE EQ U IT Y/I N V E S TM E NT P RO FE S S I O N A L o f t h e Y E A R
I N V E S TM E NT BA N K E R of the YEAR
AT TO R N E Y YEAR
HEATHER HUBBARD
GRETCHEN FRARY SEAY
DAVID MCLEAN
Managing Partner Valesco Industries
Co-Founder and Managing Director Clearsight Advisors
Partner McGuireWoods
Heather Hubbard leads one of the most active lower-middle market private equity funds in Dallas. The firm has invested in seven platform companies during the past three years; it deployed both equity and subordinated debt to partner with Plano-based marketing, advertising, and consulting firm UMI. Hubbard says the firm plans to raise capital for its Valesco Fund III this year.
Gretchen Frary Seay co-founded Clearsight Advisors in 2011. As managing director of the Dallas-based firm, she has advised on more than 40 transactions, specializing in sell-side, buy-side, and recapitalization transactions in the technology sector. Last year, Seay executed three notable deals involving data analytics, Big Data, and digital transformation practices.
David McLean led more than 40 transactions in 2019, ranging in complexity from senior and subordinated debt financing to full buyouts. He’s a partner in McGuireWoods, which last year closed more than 350 deals valued at more than $41.8 billion. McLean has been with the company for six years, joining from the Dallas office of Squire Patton Boggs.
FINALIST: Barrett Lidji, Northaven Capital Partners
FINALISTS: Scot Cockroft, Sigma Mergers & Acquisitions; Barrett Kingsriter, Pinecrest Capital Partners; Brad Purifoy, Corporate Finance Associates; Lindsey Wendler, NTA-Riverbend
FINALISTS: Paul Braswell, Ferguson Braswell Fraser Kubasta; David Gail, Weil, Gotshal & Manges; A. Michael Hainsfurther, Munsch Hardt Kopf & Harr
of the
DCEOMAGAZINE.COM
4/3/20 11:01 AM