Powell Goldstein might want to consider opening an office on the West Coast.
Two PoGo partners – William B. Shearer Jr. and G. William Speer – are counsel to an Arizona company, Global Water Resources Inc., on its plans to hold an initial public offering this y
ear. Shearer has another major client on the West Coast; he’s the outside general counsel for the Los Angeles Angels of Anaheim baseball team.
There is an indirect link between Shearer’s work for Global Water and his work for Angels’ team owner Arturo “Arte” Moreno. Billboard company Outdoor Systems (now known as CBS Outdoor) is a longtime PoGo client. Global Water Chairman William S. Levine is the former chairman of Outdoor Systems. Moreno is the former owner of Outdoor Systems. Moreno, who sold the billboard company to Infinity Broadcasting in 2000, is not involved with Global Water.
Global Water, headquartered in Phoenix, manages water and wastewater utilities in metropolitan Phoenix. Before it can hold its IPO, the company must obtain approval from the Arizona Corporation Commission, according to a regulatory filing. The company plans to raise $50 million through the IPO. Shearer and Speer declined to comment on Global Water’s IPO registration statement, citing the company’s quiet period.