Editorial: Capital Markets in Florida

01 November 2007

Akerman Senterfitt achieves the greatest showing in these pages: four lawyers from its “fabulous department” make the cut. The firm has represented companies and financial institutions such as Palm Beach Capital Partners, ComVest Investment Partners, BayView Financial and JPMorgan Chase. Stephen Roddenberry is a “key player” in the area and his peers praised the international aspect of his practice. Jonathan Awner is a “top-flight capital markets practitioner” and has been lead counsel to issuers in a total of $4 billion in underwritten public equity and debt offerings. He acted for Republic Services in its $1.5 billion initial public offering (IPO). He also advises companies and investor groups on private placements. The “technically brilliant” Bradley Houser counts DHL Express (USA) and Florida Capital Bank among his clients. He was issuer’s counsel for MBF Healthcare Acquisition Corp in an IPO for $172.5 million. The firm’s final representative here is Teddy Klinghoffer who chairs the private equity and venture capital practice. With clients such as ADP TotalSource, Kitson & Partners and HIG Capital LLC, he enjoys a “serious standing in the state as a capital markets lawyer”.

Holland & Knight LLP’s capital markets practice has “worked on hundreds of deals” in Florida, where it maintains a large market share, especially in the Tampa area. The firm led the $3.7 billion Kos Pharmaceuticals buyout by Abbott Laboratories. Robert Grammig is head of the firm’s securities practice. He focuses on public offerings, private placements and compliance matters under the Securities Exchange Act 1934, and is well known in the international capital markets. He has led a large offering for Burger King. “Rising star” Rodney Bell was lauded as a “terrific young lawyer”. He leads the firm’s securities and public companies practice in South Florida and has represented clients such as Watkins Motor Lines. Steven Sonberg has a “worldwide reputation” as a corporate lawyer and chairs the firm’s business law section. His securities practice focuses on offerings and compliance issues, representing companies in public and private offerings, debt and equity securities, and proxy securities and he has been involved in cross-border transactions in Canada, Latin America and throughout Europe.

“Established” local firm Trenam Kemker Scharf Barkin Frye O’Neill & Mullis PA has offices in Tampa and St Petersburg. The firm’s well-respected capital markets practice has a strong reputation in the area. Three practitioners emerge from its ranks: “Senior, respected” Richard Leisner is a “go-to practitioner” for securities law, working with growing companies in all aspects from start-up venture capital and private placements to IPOs. Nelson Castellano is co-chair of the firm’s business transactions practice and specialises in acting for emerging and middle market companies in capital raising transactions such as private placements. His expertise in the small business area is well recognised by his peers and he has served as co-chair of the American Bar Association’s small business section task force on private placement broker dealer registration. Gary Teblum completes the trio and shares the mantle of co-chair of the business transactions practice. He has “vast experience” in advising public and growing companies, according to rivals.

Greenberg Traurig LLP “attracts the top deals”, according to sources. This Miami-based firm provides issuer’s and underwriter’s counsel to companies ranging from start-ups to multinationals. The group recently acted for Freedom Acquisition Holdings in its $528 million IPO. The “formidable” Miami-based chair of the national corporate and securities practice, Gary Epstein concentrates on public and private offerings and other securitisation issues. He represented Equity One in its IPO and follow-on offerings. Fort Lauderdale lawyer Donn Beloff has a broad capital markets practice, encompassing public and private offerings as issuer’s and underwriter’s counsel, private equity and venture capital transactions. He is especially well known for representing health care, computer, information technology, telecommunications, employee outsourcing and pharmaceutical companies. He acted as seller’s counsel for Tempus International Corp in the $50 million sale of stock to Fossil Inc.

Foley & Lardner LLP has offices across the state and, according to sources, is particularly strong in the Jacksonville area. Its corporate credentials are long established and the pair of Tampa-based lawyers included here drew enthusiastic praise from their peers. Martin Traber is considered “an influential player”, known for his work on private equity and stock issues. Steven Vazquez is “experienced in venture capital” as well as securities offerings such as IPOs, and was noted for his work representing growth companies. He was company counsel to a multinational automotive systems supplier in a $50 million public note offering and $250 million cash tender offer.

Global firm White & Case LLP originated in New York and its Florida office has well-established links with Latin American and Florida-based companies such as Corporación Durango, Bank of America, Santander and BellSouth. Peers noted that Jorge Freeland is a “fabulous private equity partner” and highlighted his “great work” for HIG Capital and Boyn Capital. He works on activities ranging from senior debt to mezzanine financings, and asset based and cash flow facilities.

The “highly astute and effective” Victor Alvarez specialises in structured finance and works closely with Latin America.

Representative matters include Makro Atacadista SA’s global offering in which he represented the global coordinator and lead underwriter.

Carlton Fields PA boasts a “quality practice” which has worked on many high-end deals. The firm acted as counsel in connection with a temporary staffing company’s sale of senior subordinated notes and Series C convertible redeemable preferred shares to the value of $25 million. The Tampa office’s managing shareholder Nathanial Doliner received compliments for his “excellent practice” and he is well known for his work on transactions between governmental bodies and private companies.

The Florida-based Shutts & Bowen LLP’s “talented group” has a national profile and boasts clients such as Intertape Polymer Group, World Fuel Services Corporation and the NASDAQ-traded broker dealer International Assets Holding Corporation. “Local legend” Luis de Armas is a “fine corporate lawyer” whose clients often originate from the financial services, trading and service sectors. He is currently leading the offering for Intertape.

Shumaker Loop & Kendrick LLP originated in Ohio, expanding to Tampa in the 1980s. The office “lands some great deals”, and places emphasis on the representation of publicly held and other growth companies both nationally and internationally. Darrell Smith is a “great practitioner” representing businesses and financing sources in national and international transactions.

Tampa firm Glenn Rasmussen Fogarty and Hooker PA is “a small firm with influence”, representing companies at all stages of development in offerings, venture capital financing and stock option plans. The “fabulous” name partner Robert Rasmussen is a “very smart corporate attorney”, according to sources, and is also well respected as an author and lecturer on the topic.

Squire Sanders & Dempsey LLP rounds off the listing. This global firm achieved a presence in Florida thanks to its merger with Steel Hector & Davis and boasts clients such as Florida Power & Light. The firm is noted for its expertise in alternative indexes such as AIM. West Palm Beach lawyer Tom McGuigan is “an extremely strong practitioner” with over 30 years’ experience in representing clients on debt and equity financings and public and private offerings. He has acted for private and public entities and individuals, as well as regulated industries on a national and international basis. Recent notable deals include acting as issuer’s counsel in a public offering of first mortgage bonds totalling $300 million.

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