Smith Anderson Hits Deal Valuation Record in 2022

As the largest business and litigation law firm in the Triangle, Smith Anderson’s total deal value of completed national and international business transactions in 2022 that attorneys advised clients on totaled approximately $19 billion, representing a record year for the 110-year-old firm. Businesses across the country also called on Smith Anderson’s trial-tested attorneys to represent them in hundreds of disputes totaling more than $1 billion in controversy. 

The following are among the more than 350 transactions completed in 2022:

• More than 75 Mergers & Acquisitions and Public Offering transactions totaling over $7 billion in value, including representing QHP Capital, L.P., the management company for NovaQuest Private Equity Fund II, L.P., in the acquisition of AutoCrutiment, LLC, a leader in digital patient recruitment.
• Counseling clients with Life Sciences, AgTech and FoodTech Collaboration and Licensing transactions totaling more than $5 billion in value, including representing Precision BioSciences, Inc. in an approximately $1.5 billion exclusive worldwide research and development collaboration and license agreement with Novartis Pharma AG.
• More than 200 Sponsor, Mezzanine, Venture and other Debt Finance, Fund Formation, Private Equity and Venture Capital transactions totaling over $4 billion in value.
• Representing clients with Real Estate Development and Construction transactions totaling over $3 billion in value, including assisting Hoffman & Associates with the development of the Raleigh Union Bus Station in a public-private partnership with GoTriangle, which will include two high-rise buildings overtop the public bus station.
• Advising clients in more than 45 Start-Up and Growth Company Financings totaling nearly $120 million in value.

The following are among the litigation highlights in 2022:

• Representing a national auto parts retailer, along with a manufacturer, in trademark and copyright litigation in federal court. The parties are litigating over ownership of the trademark in question.
• Defending a large bank in patent infringement cases in federal courts in Texas arising out of patents for two-factor authentication and point of sale transactions.
• Defended the state’s largest agricultural association against constitutional challenges to North Carolina’s Right-to-Farm legislation. The legislation protects the state’s largest industry from nuisance lawsuits by parties who move near existing farming operations and attempt to stop those operations. Pre-trial dismissal of the plaintiffs’ claims was unanimously affirmed by the NC Court of Appeals.
• Representing a manufacturer of novel aircraft technology in a contract dispute with its terminated supplier, which alleges hundreds of millions of dollars in damages. We obtained an early TRO and preliminary injunction to recover our client’s data.
• Representing a challenger in a bid protest over the award of a $290 million contract to operate the State Veterans Homes. The legal issues raised by the protest are significant, including the state’s improper use of false Center Medicare & Medicaid Service ratings to justify an award to the long-term incumbent vendors.
• Representing the member companies of the owner and developer of a large apartment complex in a catastrophic loss property damage case in downtown Raleigh that burned during construction. The fire completely engulfed the project, damaged adjacent buildings and was reported in national media.

Smith Anderson is the sixth largest law firm in North Carolina and the 272^nd largest law firm in the United States. The firm’s reach extends far beyond North Carolina, with our breadth of experience crossing national and international markets, serving clients in 26 countries and 45 U.S. states.

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