REPRESENTATIVE EXPERIENCE
Public Company Transactions Doug represented the following clients in transactions involving the purchase, sale or recapitalization of publicly traded companies.
- Allied Capital Corporation in its $850 million merger with Ares Capital Corporation.
- Patriot Capital Funding, Inc. in its $192 million merger with Prospect Capital Corporation.
- Saratoga Investment Advisors in its $55 million debt and equity recapitalization of GSC Investment Corporation, a publicly traded business development company.
- Park Communications (NASDAQ PARC) in the $711 million sale of Park to two private investors.
- Swiss Re in the $172 million tender offer for the outstanding stock of Southwestern Life Holdings (NASDAQ: SWLH).
- A major construction and mining company in the $3 billion registered exchange offer to recapitalize the company into two classes of “tracking” stock.
- Agway Inc. in the $255 million sale of publicly traded subsidiary, Curtice Burns Foods (AMEX: CBI), to Pro-Fac Cooperative.
Private Equity and Other Non-Public Transactions Doug’s experience also includes representing the following clients in connection with the purchase, sale or reorganization of privately held companies or their assets.
- Callidus Capital Management in the sale of its collateral management business to GSO/Blackstone.
- Allied Capital Corporation in the $981 million sale of its CMBS portfolio and servicing platform to CW Capital; acquisition of Crescent Hotels & Resorts; acquisition of AllBridge Financial; acquisition of Cambridge Capital Management; acquisition of Callidus Capital Management; acquisition of Emporia Capital Management; acquisition of Legacy Partners; sale of assets of Legacy Partners to Friedman Billings & Ramsey.
- A major wholesale energy trading company in its sale to a Wall Street investment bank and in the sale of its retail energy provider subsidiary to a private equity firm.
- British Nuclear Fuels in the reorganization of BNFL USA Group in connection with the $5.4 billion sale of Westinghouse Electric to Toshiba Corporation; acquisition by Westinghouse Electric of PaR Systems Inc.; sale of BNG America to EnergySolutions LLC; termination and buyout of consortium agreement between BNG America and Washington Group International; and the management buyout of BIL Solutions.
- Telmark LLC in the $617 million sale of its equipment lease portfolio to Wells Fargo Financial Leasing.
Insurance and Financial Services Transactions In addition to his general corporate transactional practice, Doug’s experience includes representing the following clients in insurance and financial services M&A transactions.
- ING Groep NV in the $152 million acquisition of United Life and Annuity from Penncorp, the sale of medical stop-loss division to SAFECO, and the sale of health insurance division to Manhattan Life.
- Lincoln Financial Group in the $1.4 billion acquisition of CIGNA’s life, health and annuity business; the acquisition of Dougherty Financial Group (adviser to the Voyageur mutual funds), and the acquisition of UNUM’s tax-sheltered annuity business.
- Swiss Re in the acquisition of North West Life from Industrial-Alliance Life of Canada.
- Hartford Life in the acquisition of PLANCO, the largest wholesaler of mutual funds and insurance products in the United States.
- SAFECO Corporation, as special counsel in the $1.4 billion sale of its life insurance and asset management business to White Mountains/Berkshire Hathaway.
- Wilton Re in the acquisition (through reinsurance) of substantially all the assets of Annuity and Life Re (Holdings) Ltd. (NYSE: ANR)
- Securian Financial in the acquisition of H. Beck Inc. (broker-dealer and investment adviser), Capital Financial Group Inc., and CFG Insurance Services Inc. from individual stockholders.
- A major European financial services company in its acquisition of the adviser and distributor of a family of mutual funds.
- Kentucky Home Mutual in the acquisition of Keystone State Life, in the sale of Keystone State Life to American Heritage Life and the merger of Kentucky Home Mutual with National Guardian Life.
PROFESSIONAL AND COMMUNITY INVOLVEMENT
- Pro Bono Attorney, Bread for the City, a Washington, D.C.-based nonprofit agency
- Adjunct Professor of Law, The George Washington University Law School