Dinsmore adds team of business attorneys in metro Detroit — an M&A ‘sizzling spot’
Cincinnati-based Dinsmore & Shohl LLP has hired a team of seasoned M&A attorneys from Howard & Howard PLLC, based in Royal Oak, as the firm seeks to grow in size and prestige.
The team, led by Joseph DeVito, started at the company earlier this week, which has local offices in Troy and Ann Arbor. There are already businesses in sectors from defense and industrial to technology and CBD, DeVito said.
“It seems that Detroit is a hot spot where national companies want to develop their M&A teams,” said DeVito. “We are no longer just the automotive industry. There’s aerospace, technology, software, life sciences, intellectual property … M&A in healthcare has really exploded. Detroit has really become a hub for all kinds of industries. “
DeVito’s team will be based primarily in Dinsmore’s Troy office. The other M&A specialists and partners are Jeffrey Hoover, Evonne Xu and Ian Larkin, and Jane Hahn, who joins the firm’s Chicago office. The team brings with them a number of clients that include Detroit-based DTE Energy and Omaha-based PE firm McCarthy Capital.
DeVito said national firms began wooing his group last year and he was considering merging his team with a larger firm to improve their practice. So he brought the idea to George Vincent, the managing partner and chairman of Dinsmore, who had hired DeVito fresh from Wayne State University Law School in 1995. So the circle came full.
“We specialize in mergers and acquisitions across various industrial sectors and we really felt we needed a bigger national platform,” said DeVito. “Dinsmore has the breadth and depth we need.”
According to a press release, the team represents mid-market buyers and sellers on deals between $ 50 million and $ 1 billion, but an average of $ 250 million. Clients include private equity firms, multinational corporations, and financial services, healthcare, cryptocurrency, defense, aerospace, hydroponics, industrial and automotive companies.
With the M&A team, Dinsmore has 31 attorneys in its two offices in southeast Michigan. It has more than 725 lawyers nationwide. Mark Schneider, Dinsmore’s Office Managing Partner for Michigan, said his goal was to grow the firm’s Michigan presence to 50-75 attorneys over the next several years.
“The company is always looking for growth opportunities,” said Schneider, adding that more potential mergers and acquisitions are on the table for the company itself. “We are concerned with continuous strategic growth.”
Dinsmore Michigan law firms emerged from the 2015 acquisition of the IP firm Gifford, Krass, Sprinkle, Anderson & Citkowski PC. Dinsmore hired 17 lawyers and 32 support staff as part of the deal, Crain’s reported.
DeVito said one of his group’s greatest strengths is diversity, an area that is becoming increasingly important to businesses.
Xu, who represented Alta Equipment Holdings Inc. when it went public in a $ 550 million merger in 2019, was named Crain’s Detroit Business Notable Woman in Law in 2021. Larkin specializes in corporate governance and general management consulting, Hoover handles financing and real estate transactions, and Hahn advises as a transaction attorney on general corporate and financial matters.
“As a group, we have always focused on delivering the highest level of service to our customers and joining Dinsmore’s national platform will only improve that,” DeVito said in the press release.