Patrick Sheets

“I’m a problem solver. Clients want to get from point A to point B, and I enjoy getting into the details of a transaction and plotting a path to get us there.”
— Patrick Sheets

Patrick Sheets has broad corporate and transactional law experience, representing clients across various industries with respect to the formation, acquisition, reorganization, and disposition of businesses. He has been instrumental in assisting clients with the negotiation and drafting of operating agreements, purchase agreements, and loan agreements, and has assisted many clients with debt and equity financing and restructuring.

Patrick graduated summa cum laude from South Texas College of Law in 2012 and received his Master of Laws in Taxation from New York University in 2014. Prior to law school, Patrick earned bachelor’s degrees in mathematics and government at The University of Texas, and considers his transactional law practice a natural extension of his analytical, problem-solving skills. Patrick has interned for MD Anderson Cancer Center, Rice University, Children at Risk, the IRS Office of Chief Counsel, Congressman Michael T. McCaul, and the Tampa Bay Lightning.

Patrick has traveled extensively, including participating in a study-abroad program led by Chief Justice John G. Roberts at the University of Malta. An avid baseball fan, he has visited 26 Major League ballparks and the National Baseball Hall of Fame. Patrick enjoys spending free time with his friends, family, and his newborn son, Max.

Primary Focus & Experience

• Business Law
• Contract Law
• Corporate Reorganizations & Restructuring
• General Counsel Services
• Mergers & Acquisitions
• Tax Law

Recent Significant Engagements

• Represented a retail chain with respect to its buyout of a 40-percent interest held by private equity fund and obtaining a $55 million secured loan facility in conjunction therewith.
• Represented a commercial real estate group in a tax-free reorganization, the buyout of minority interest holders, and the related $100 million secured loan facility.
• Represented a food and beverage distributor in a corporate reorganization and associated tax-free split-off transaction.
• Represented an investment group with respect to the acquisition of minority interests in an oil and gas exploration company, and related corporate restructuring to facilitate its utilization of $35 million in net operating loss carryforwards.
• Represented a specialty grocery store chain with respect to its $30 million acquisition of a competing specialty supermarket chain and refinancing its secured loan facility.
• Represented a wireline truck and equipment manufacturer in connection with its $20 million acquisition by multinational oilfield services and equipment company.
• Represented the owners of a dermatology practice in connection with its $2 million sale to a Houston-based conglomerate.

Published Articles & Presentations

• National Electrical Contractors Association, 2017 Executive Leadership Conference: Presentation on the formation, governance, and ancillary issues with respect to nonprofit organizations, with an emphasis on 501(c)(6) trade associations
• Chamberlain Hrdlicka 39th Annual Business and Tax Planning Forum (2016): Co-presented “Crash Course in Texas Taxes”, which surveyed the Texas franchise, sales and use, property, and other taxation systems and analyzed recent case law in accordance therewith
• Chamberlain Hrdlicka 38th Annual Business and Tax Planning Forum (2015): Co-presented “Accidental Taxation”, which examined ways that foreign corporations can unexpectedly trigger U.S. taxation
• Texas Entertainment and Sports Law Journal (2012): Authored “Dodgers Cannot Shop TV Rights to Bidder”, an article that analyzed the Los Angeles Dodgers’ bankruptcy proceedings under owner Frank McCourt and a ruling that prohibited the team from negotiating its upcoming media rights deal in anticipation of a sale of the franchise

Admissions

• State Bar of Texas

Education

• Master of Laws in Taxation, New York University School of Law
  • Advanced Professional Certificate in Law and Business
• J.D., South Texas College of Law, summa cum laude
  • Order of the Lytae
  • Langdell Scholar
  • Pro Bono Honors
  • Articles Editor, Corporate Counsel Review
• B.S., Mathematics and B.A., Government, The University of Texas at Austin