Jason Atchley
Houston law firm diversifies amid oil slump, plans to focus on tech
Houston's oldest law firm has historically established itself as a leader in the energy practice. But with the oil downturn that's caused at least one law firm to close, Baker Botts LLP has diversified into different areas of practice.
In October, Baker Botts opened an office in San Francisco in an effort to grow its position in technology and intellectual property practices.
"While energy deals continued to dominate the agenda, we also saw movement in other sectors such as technology, life sciences and chemicals. We expect this trend to continue as we move into 2016,” Kelly Rose, a partner in the firm's Houston office, said in a statement.
Baker Botts was involved in more than $92 billion worth of mergers and acquisitions in 2015, down significantly from $250 billion last year. The company advised clients on 55 deals this year, down from 73 last year, according to statements from the firm.
Some of Baker Bott's major deals this year were also some of Houston's largest deals, as well. Baker Botts represented Schlumberger Ltd. (NYSE: SLB) in the
of Cameron International Corp. (NYSE: CAM). That
and is expected to close in the first quarter of 2016.
The Houston office of the firm also advised in the largest MLP IPO in historywhen Houston-based Columbia Pipeline Partners LP (NYSE: CPPL) raised around $1.2 billion amid a broader plan for it to be spun off from its parent, Indiana-based NiSource Inc. (NYSE: NI). That deal is a finalist for the Houston Business Journal's Deals of the Year in the energy category. Check out all the Deals of the Year finalists here.
Joe Martin covers technology, money and law for the Houston Business Journal.Follow him on Twitter for more.
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