Alabama's Balch & Bingham Brings on Presley Burton & Collier

BRADENTON, Fla. — Birmingham, Ala.-based Balch & Bingham LLP will expand its public finance practice next month with the addition of Presley Burton & Collier LLC.

Presley Burton, a law firm that specializes in public finance, will move its seven bond attorneys to Balch & Bingham, increasing the combined practice to 12. The merger is expected to be completed May 16.

The new public finance group at Balch will be headed by veteran bond attorneys Foster Clark and Hobson "Hobby" Presley Jr.

"We're very excited about having this kind of department and experience in public finance, and it will make us a really important player in our region and nationally as well," said Presley, who founded Presley Burton in 2004.

Presley Burton, which focused as much as 70% of its work in the health care sector, has placed its only location in Birmingham up for sale.

Clark and Presley have been friends, and friendly competitors, for long time and talked about combing practices in January, when market activity began to pick up, according to Clark, who is a partner at Balch and serves as chairman of the firm's business section, which includes public finance.

Presley Burton's work in health care will provide a balance to other public-finance sector work at Balch, according to Clark. For all issuers, there is pent-up need for capital to fund infrastructure projects across the country and in all sectors, the men said.

Both firms are currently special counsel to Jefferson County in its Chapter 9 case. Following the merger, attorneys will continue to provide the same services, though under the same roof. Balch is also the county's disclosure counsel.

Clark and Presley are past presidents of the National Association of Bond Lawyers, and they will continue to work on NABL acivities after the merger, Presley said.

"It's something that's been a passion for us both," he said. "It will be important for us going forward."

Clark said his experience with NABL has helped him understand the "bigger picture" on many issues.

Balch is open to further expansion, though nothing is in the works at this point, he said.

The new public finance group at Balch will represent clients in all facets of securities work, such as bond and underwriters' counsel in public offerings and private placements.

"The attorneys of Presley Burton & Collier have a well-deserved reputation as outstanding lawyers serving tax-exempt and tax-advantaged transactions across the nation," said a statement by Balch & Bingham managing partner Alan Rogers. "This addition to our team represents a continued commitment to the health care industry and an investment in our business and finance offerings."

Though both firms work in other states, Balch & Bingham was the third-ranked firm in bond counsel business in Alabama with $349.9 million in par volume last year, according to Thomson Reuters. Presley Burton ranked No. 10 with $82.4 million in nine transactions.

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