Steve applies his Wharton M.B.A. to the strategic advice that he delivers to boards of directors and senior executives of publicly traded and private companies operating and investing in the energy industry. Now serving as leader of the firm's Energy and Natural Resources industry team, Steve has structured mergers and acquisitions, strategic alliances and capital formation transactions in excess of $7 billion. His capital markets and corporate governance guidance is sought by boards of directors and special committees of public companies and by fund managers. In the energy and natural resources industry. Steve has:
•Represented the closed-end fund Tortoise MLP Fund Inc. in its $1.2 billion initial public offering.
•Advised CorEnergy Infrastructure Trust, Inc. in its $40 million acquisition of a petroleum products terminal in Portland, Oregon.
•Represented the independent directors on the Conflicts Committee of Inergy, L.P. in its merger with Inergy Holdings, L.P., creating an entity with $6 billion in enterprise value.
Steve has led numerous debt and equity offerings for investment companies and unregistered investment funds; numerous public offerings of debt, equity and rights to acquire equity, including initial public offerings (IPOs); and several private placements of securities for a wide variety of industry participants. He also has advised in and negotiated venture capital investments, representing recipient companies and venture investors.
Prior to his focus on the energy industry, Steve served clients in the financial services, transportation, manufacturing and real estate industries and represented several early stage technology-focused companies on matters ranging from incentive compensation structures to technology licensing agreements.
Steve is a member of the firm's Partner Board and former member of its Executive Board.
Awards and Recognitions
The Best Lawyers In America, Corporate Law, Leveraged Buyouts and Private Equity Law, 2005-2015; Kansas City Leveraged Buyouts and Private Equity Law Lawyer of the Year, 2012; Kansas City Corporate Law Lawyer of the Year, 2015
•Chambers USA, Corporate/Mergers & Acquisitions Law, 2008-2014
•Martindale-Hubbell AV Preeminent
•Missouri & Kansas Super Lawyers, Securities & Corporate Finance, 2005-2013
Enterprise Center of Johnson County, 1997-2002, chair, 2002
•Johnson County Community College Foundation, Board of Directors, 2008-present
•Mission-Area Chamber of Commerce, Board of Directors, 1993-1997
•Northeast Johnson County Chamber of Commerce, Board of Directors, 1997-2002; chair, 2001
•Prairie Village City Council, 1991-2000; president, 1999-2000
•United Community Services of Johnson County, Board of Directors, 1997-2002
•Led several public equity and debt offerings by registered investment companies that invest in the energy industry, including initial public offerings, direct offerings and at-the-market offerings totaling in excess of $3 billion.
•Advised CorEnergy Infrastructure Trust Inc. in purchase of a $228 million liquids-gathering system near Pinedale, Wyo. The acquisition included negotiation and documentation of a $78 million public stock offering led by Bank of America Merrill Lynch, a $70 million credit facility from KeyBank, and a $30 million co-investment from a subsidiary of Prudential Insurance.
•Advised the members of the Inergy, L.P. Conflicts Committee on the $192.5 million drop-down of US Salt, LLC.
•Advised investors on PIPE transactions resulting in over $400 million of investments in MLPs.
•Guided PhoneFactor Inc. as it was acquired by Microsoft Corp. for $47 million. The Kansas-based company's phone-based authentication product protects financial and other systems from fraud.
•Advised buyers and sellers of banks and bank-holding companies, including Kansas-based Blue Valley Ban Corp. in its acquisition of Unison Bancorp Inc. and its subsidiary Western National Bank.
•Represented independent members of the board of directors of mutual funds, bank-holding companies and insurance companies on fundamental transactions, including the board of directors of Bannister Bancshares in the sale by its sole subsidiary, Union Bank, of substantially all of its assets.
•Guided acquisitions and divestitures for public and private companies in numerous industries, ranging in size from $500,000 to $640 million.
•Supervised public registration and exchange listing of $500 million real estate company.
•Advised and assisted in numerous venture capital investments, representing recipient companies and venture investors.
•Represented B12 Capital Partners and four other private equity funds in forming a new entity that completed a $15 million acquisition of Arrow Material Handling Products.
•Represented Arcady Capital, a private equity investment firm, in $6.5 million leveraged buyout of Mountain Molding LLC, a plastic injection-molding company in Longmont, Colo. Established a one-off investment fund for Arcady and assisted in negotiating and documenting its equity, senior debt and subordinated debt financing for the acquisition.
8.25.14 Dealmakers Q&A: Husch Blackwell's Steve Carman, Law360
Energy & Natural Resources
12.16.10 SEC Issues Proposed Investment Adviser Registration Exemptions
9.21.10 SEC Adopts Final Rules on Shareholder Proxy Access
7.28.10 Amendments to Form ADV Adopted
7.23.10 New Rule Restricts Political Contributions from Investment Advisers to Government Clients
4.15.10 Supreme Court Issues Decision in Mutual Fund Excessive Fees Case
1.27.10 SEC Expands Disclosure Requirements for Fund Proxy and Registration Statements
1.15.10 SEC Adopts Amendments to Rules Under the Advisers Act
3.23.09 Amendment Proposed to NYSE Rule 452
2.19.09 Hedge Fund Regulation Bills Introduced
In The News
8.19.14 Husch Blackwell Boasts 106 Best Lawyers on 2015 List, Seven Lawyers of the Year
Energy & Natural Resources ; Financial Services ; Food & Agribusiness ; Healthcare, Life Sciences & Pharmaceuticals ; Real Estate, Development & Construction ; Technology, Manufacturing & Transportation
5.23.14 Chambers USA 2014 Gives Husch Blackwell High Rankings in Nine Areas of Law; 40 Attorneys Recognized
Energy & Natural Resources ; Healthcare, Life Sciences & Pharmaceuticals ; Real Estate, Development & Construction
4.22.14 Texas House Member Trey Martinez Fischer Joins Husch Blackwell
Energy & Natural Resources
11.13.13 Husch Blackwell Hosts Shanghai Delegation
10.16.13 In Missouri, 76 Husch Blackwell Attorneys Named 2013 Super Lawyers & Rising Stars
8.16.13 Best Lawyers 2014 Names 109 from Husch Blackwell, 13 Lawyers of the Year
Healthcare, Life Sciences & Pharmaceuticals ; Real Estate, Development & Construction ; Financial Services ; Energy & Natural Resources
6.03.13 Husch Blackwell Receives High Rankings, Praise from Clients in Chambers USA 2013
10.15.12 A Combined 84 Husch Blackwell Attorneys are Named 2012 Super Lawyers and Rising Stars in Missouri and Nebraska
8.23.12 2013 Best Lawyers Includes 106 Husch Blackwell Attorneys in 56 Practice Areas and 7 States
6.12.12 Husch Blackwell Receives Top Rankings from Chambers and Partners
Real Estate, Development & Construction