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Vinson & Elkins advised Sunpro Solar (Sunpro) in a transaction whereby ADT Inc., the most trusted brand in smart home and small business security, has agreed to acquire Sunpro, ranked #2 for 2021 Top Residential Rooftop Solar Contractors in the U.S., for $160 million in cash plus approximately 77.8 million shares of ADT common stock, implying a total enterprise value of approximately $825 million, subject to certain adjustments.
Vinson & Elkins advised Pioneer Natural Resources Company in connection with a definitive agreement with Continental Resources to sell all of its Delaware Basin assets for cash proceeds of $3.25 billion, subject to normal closing adjustments.
On November 3, 2021, the Supreme Court of the State of Delaware affirmed a complete victory obtained by Vinson & Elkins trial lawyers for former subsidiaries of its client, Energy Transfer, LP, in Delaware class action litigation challenging the $18 billion merger between Regency Energy Partners, LP and Energy Transfer Partners, LP (ETP).
Vinson & Elkins advised Acuity Eyecare Holdings, LLC, a portfolio company of Riata Capital Group, a Dallas-based private equity investment firm, in connection with a GP-led secondary transaction.
Vinson & Elkins advised ArcBest®, a leader in supply chain logistics, in its entry into a definitive agreement to acquire MoLo Solutions, LLC, a Chicago-based truckload freight brokerage.
Vinson & Elkins partner Tom Leatherbury has been appointed to the Texas Access to Justice Commission for a three-year term.
Vinson & Elkins advised LRS, the Midwest’s leading independent waste diversion, recycling and portable services provider, and Goldman Sachs, in its capacity as the lead investor in LRS, in connection with a sale to MIP V, an Americas-focused, $6.9 billion unlisted infrastructure fund managed by Macquarie Asset Management.
Vinson & Elkins advised funds managed by Oaktree Capital Management, L.P. in a transaction whereby Oaktree and Providence Energy Ltd. will form a new mineral and royalty acquisitions company, Sierra Energy Holdings, LLC, backed with $500 million in equity commitments.
Vinson & Elkins advised funds managed by affiliates of Apollo Global Management, Inc. in a $150 million equity commitment to FlexGen Power Systems, Inc., a leading integration services and software technology provider for energy storage solutions in the U.S. and globally.
Vinson & Elkins represented Kayne Anderson Capital Advisors, L.P. in a line of equity investment by its affiliates, including Kayne Private Energy Income Fund II, L.P. and Kayne Anderson Energy Fund VIII, L.P., in Black Knight Energy, LLC, a newly-formed private energy company focused on the acquisition and development of large, cash flowing oil and natural gas assets across the lower 48.
Vinson & Elkins advised WPT Industrial Real Estate Trust (“WPT”) in connection with its sale to Blackstone Real Estate Income Trust, Inc. (“BREIT”), in which BREIT will acquire all of the outstanding units of WPT through a series of transactions that will result in unitholders receiving US$22.00 per Unit in an all-cash transaction valued at US$3.1 billion including the assumption of debt.
Vinson & Elkins served as co-adviser to Riata Capital Group, a leading Dallas-based private equity investment firm, and West Coast-based Eurostar, Inc. (“WSS”), the nation’s leading Hispanic-focused specialty retailer of athletic, fashion, and work-related footwear and accessories, in a definitive agreement for WSS to be acquired by Foot Locker for $750 million.