Jay Coogan of Ballard Spahr in Philadelphia.

Prominent M&A and private equity attorney Jay Coogan has left DLA Piper to join Ballard Spahr in Philadelphia as a partner in the business and transactions department.

Coogan advises clients in mergers and acquisitions, private equity transactions, securities offerings, capital financings, and corporate governance matters.

Drawn to Ballard's work with private equity firms and large public companies, Coogan said that he was seeking "a much bigger, local platform" at this point in his career, so he can adapt to a changing business environment.

"I needed a change for myself and my practice, and Ballard is a good fit," said Coogan in an interview.

"I have several friends and colleagues that are already at Ballard and encouraged me to come, and the firm gives me an opportunity to grow my Philadelphia practice," he said.

Coogan was a partner at DLA Piper for about six years. Prior to that, he was a partner at Duane Morris and now-defunct Wolf Block in Philadelphia. He also served as in-house counsel for NovaCare for about three years.

"I was the only private equity attorney in the DLA Philadelphia office, and Ballard has a nice, middle-market private equity practice across the country—in Denver, Phoenix, and other locations," he said.

"I wanted to be part of a more diverse local office" in terms of practice offerings, he added, noting, "for example, Ballard has an active real estate, labor and benefits, and securities practice, which is attractive."

Regarding Coogan's departure, DLA Piper said, "We thank him for his contributions, and wish him all the best."

Coogan has more than 20 years' experience representing clients in industries ranging from technology, manufacturing, and business services, to consumer products and health care. He represents public and private companies in M&A and securities issues, and helps private equity firms and investors in the purchase, sale, financing and operation of their portfolio companies.

"A lot of my clients are private equity, private businesses, as well as startup clients in health, tech and IT. I have always had a health care component in my practice, such as the niche pharmacy benefits management company, Performance Healthcare Solutions, a startup based in Memphis," Coogan said.

Coogan also represents Rival Games Ltd, a startup that is "building an enterprise structure white label for professional sports teams and leagues."

"For example, if a professional NFL team wants to engage fans in e-sports, Rival Games helps the team set up an e-sports league, and helps the team manage its advertising. The company allows the team to build and put its own brand on the team's own e-sports platform," Coogan said, adding that the growth of e-sports shows how American culture is changing and adapting, particularly while professional sports have stopped during the pandemic.

Coogan anticipates that all of his clients will make the move with him, since he is outside general counsel for most of his clients.

And Coogan noted that, as people have adjusted to remote work since mid-March, the market is now seeing an uptick in general investment and M&A activities.

"When the pandemic hit, like a lot of other transactional practices, we hit pause, because, particularly in the middle-market, it is harder to do due diligence [on] these companies without face-to-face meetings," he said.

"As we return to normal, we will likely see a robust buying environment as long as credit markets remain stable. And even now, as buyers adjust their due diligence practices, we are seeing an uptick," he explained.

Coogan also advises on legal and business matters, such as regulatory issues, entity formation, capitalization, equity compensation, capital raising and contracts.

Peter Michaud, chair of Ballard's business and transactions department, said in a statement that Coogan "will strengthen our growing corporate bench and his experience advising companies in the health care industry and clients in the private equity/venture capital arena is a particularly good fit for Ballard."

Coogan's arrival follows the departure earlier this month of James Lodoen, who left Ballard to join Spencer Fane as a partner in the firm's bankruptcy, restructuring, and creditors' rights practice group in Minneapolis. The group, which has grown significantly in recent years, is looking to enhance their ability to advise clients on new matters relating to bankruptcy and navigating financial distress, according to a firm announcement on that move.