Wilhelm E. Liebmann

Member

Will Liebmann generates business growth for his clients by helping them secure mergers and acquisitions, joint ventures, and other strategic transactions. Director of the firm's corporate finance practice, he works across a host of industries and has closed multimillion-dollar deals up to deals valued in the billions. Will’s clients include private and public companies who rely on him for efficiency navigating all types of transaction structures.

Will understands how businesses work, and he often acts as an outside general counsel for his clients. They trust him to watch out for their best interests, monitoring for opportunities and potential threats, and they rely on his commitment to delivering candid, practical advice so they can make the smart decision.

Will’s role goes beyond M&A to advise on other types of commercial transactions, corporate governance, regulatory guidance, and more.

Many of Will’s clients operate in highly regulated industries, like alcoholic beverages, aviation, and public utilities, so he understands the unique challenges companies under such scrutiny face. “Will is an outstanding resource” clients told Chambers USA: America’s Leading Lawyers for Business. His experience and comprehensive knowledge in his client’s industry has earned him the rank as one of the top corporate attorneys in San Antonio in the 2023 edition of the guide.

From navigating 50-state regulatory compliance for liquor distributors to guiding rural electric cooperatives acting in quasi-governmental roles, Will offers strategic guidance to help his companies communicate effectively with regulators.

Clients also rely on Will for his tact and his ability to de-escalate a tense situation. Whether facing a difficult negotiation over a debt financing agreement or a make-or-break meeting with regulators, Will recognizes that even as markets expand and stakes rise, success can hang on the smallest of actions, and that his work can impact his clients' valuable long-term relationships. By working to create win-win situations for all stakeholders, Will smooths the way for his clients’ transactions and sets the stage for their next big opportunity.

“I focus on learning about my client's work and what they are trying to accomplish. I put myself in their shoes and ask, if I were them, what would I want from my lawyer?”

Education

Bar and Court Admissions

Bar Admissions
- Texas, 1995

Professional Recognition

- Recognized in The Best Lawyers in America^®
  - Corporate Law, 2015-2026
  - Securities/Capital Markets Law, 2011-2026
  - Corporate Governance Law, 2023-2026
  - Corporate Compliance Law, 2023-2026
  - Utilities Law, 2026
- Named "Lawyer of the Year" by The Best Lawyers in America^®for
  - Corporate Law, 2019 and 2024
- Named a Texas Leading Lawyer in Corporate/M&A by Chambers USA, 2020-2025
- Recognized by San Antonio Magazine in "San Antonio's Top Attorneys" for Business Law, 2019; Corporate Finance Merger & Acquisition Law, 2023
- Recognized by San Antonio Magazine in "San Antonio's Top Attorneys" for Corporate Finance Mergers & Acquisitions, 2020-2022
- Martindale-Hubbell^® AV^® Preeminent Peer Review Rating
- Named by San Antonio Business Journal as the 2015 Outstanding Lawyer for Corporate Law
- Selected for inclusion as a "Texas Super Lawyer," Super Lawyers, 2012
- Recognized by S.A. Scene in "San Antonio’s Best Lawyers" for Business & Corporate and Mergers & Acquisitions

Affiliations

- Association for Corporate Growth (Central Texas Chapter), Executive Vice President (past), Board Member
- State Bar of Texas
- San Antonio Bar Association
- Electrical Cooperative Bar Association
- Dykema Department Head, Corporate
- Dykema Practice Group Leader, General Corporate and Securities

Community

- Arts San Antonio, Board Member, Past Chairman

Related Employment

- - Partner, Cox Smith
- - Partner, Akin Gump

San Antonio 210-554-5414

Areas of client focus

Practices

Corporate and Finance Mergers and Acquisitions Private Equity Securities Government Reorganization and Restructuring

Industries

Food and Beverage Power and Utilities Energy and Natural Resources

Latest News and Insights

Press Releases8.21.25

209 Dykema Lawyers Listed in The Best Lawyers in America® 2026 and Best Lawyers “Ones to Watch”

Dykema, a leading national law firm, announced today that 209 of its attorneys, in multiple practice…

Press Releases6.5.25

Dykema Earns 18 Practice Area Rankings and 35 Individual Rankings in Chambers USA 2025

Dykema, a leading national law firm, announced today that it received 35 individual attorney…

Legal Alerts5.16.25

Corporate Law Overhaul: Texas Makes Significant Moves to Become Even More Business-Friendly

Texas has enacted sweeping legislation that significantly strengthens legal protections for public…

Secures $30M+ Acquisition for Zhone Technologies, Inc.

Successful representation of Zhone Technologies, Inc. as U.S. counsel in its acquisition of assets from DZS Inc. With a total transaction value exceeding $30 million, this high-profile, cross-border deal involved complex coordination across jurisdictions—including assets, contracts, and subsidiaries located in the United States, Canada, Australia, India, Korea, and beyond.

Sale of 17 Location Chain of Convenience Stores in Central Texas

Represented Hill Country Mini Mart on the sale of its 17 convenience stores located across Central Texas to Fischer’s Neighborhood Markets. The transaction marked a significant strategic expansion for Fischer’s and a successful exit for Hill Country Mini Mart, a longstanding, family-owned operator in the region for over five decades.

Acquisition of Freshwater Marina Deal

Represented private equity firm Allied Strategic Partners on its acquisition of the Prairie Creek Marina in Rogers, Arkansas, a cornerstone of the Northwest Arkansas boating community with over 750 boat slips, 45 jet ski ports, boat rentals, a ship’s store, gas and diesel fuel pumps, and a popular floating restaurant.

$41 Million Asset Sale for Largest Municipally Owned Utility in the United States

Advised the largest municipally owned electric and gas utility in the United States on the sale of its wireless communications infrastructure assets to a leading independent owner and operator of shared wireless communications assets for $41 million. The sale allowed the utility to focus on its core business and pay down debt while still using the communications infrastructure for its own purposes. Will assisted in both the asset sale and the negotiation of the ongoing operating agreement between the buyer and seller facilitating the shared use of the assets.

Bolstering a Client’s IP Portfolio Through Acquisition of Two Coronary Stent Companies

Advised a multinational medical device company in completing two acquisitions of coronary stent companies that owned complementary technologies. These acquisitions enhanced the client's intellectual property portfolio and its roster of skilled research and development and manufacturing personnel.

Making a Client the Leading Wholesale Wine and Spirits Distributor in Nebraska

Helped the second-largest distributor of premium wine and spirits in the United States acquire the two leading alcoholic beverage wholesale distributors in Nebraska, establishing the client as the leading statewide wholesale distributor of wine and spirits in Nebraska.

Doubling the Size of a Gasoline Distribution Client

Counseled a leading distributor of gasoline, diesel, propane, and lubricant products in the southwestern and south central United States, on the acquisition of a leading provider of automated fuel purchasing and management systems, which operated unattended fueling facilities in southern California and a fleet-fuel-cards business with more than 43,000 accounts. The acquisition effectively doubled the size of the company.

Forming the Second-Largest U.S. Wine and Spirits Distributor Through Joint Venture Deal

Advised on the combination of two long-term, well-established family-owned companies to form a joint venture that is the second largest distributor of premium wine and spirits in the United States with operations in 18 states.

Leading a $310 Million Chapter 11 Bankruptcy for a Petroleum Industry Client

Guided a debtor petroleum exploration and production company through a jointly administered chapter 11 bankruptcy cases in the United States Bankruptcy Court for the Western District of Texas. Will established the sale process, introduced potential purchasers, and negotiated the terms of a $310 million sale of significantly all of the debtors' assets, enabling payment in full of the creditors’ claims and a multimillion dollar return to equity.

San Antonio 210-554-5414

Areas of client focus

Practices

Corporate and Finance Mergers and Acquisitions Private Equity Securities Government Reorganization and Restructuring

Industries

Food and Beverage Power and Utilities Energy and Natural Resources

08.21.25

209 Dykema Lawyers Listed in The Best Lawyers in America® 2026 and Best Lawyers “Ones to Watch”

Press Releases

Dykema, a leading national law firm, announced today that 209 of its attorneys, in multiple practice areas and markets, have been recognized in The Best Lawyers in America® 2026 guide and the Best…
06.05.25

Dykema Earns 18 Practice Area Rankings and 35 Individual Rankings in Chambers USA 2025

Press Releases

Dykema, a leading national law firm, announced today that it received 35 individual attorney rankings and 18 practice area rankings in the 2025 edition of Chambers USA: America’s Leading Lawyers for…
05.16.25

Corporate Law Overhaul: Texas Makes Significant Moves to Become Even More Business-Friendly

Legal Alerts

Texas has enacted sweeping legislation that significantly strengthens legal protections for public companies and business leaders. Senate Bill 29 limits certain shareholder lawsuits, codifies the…
05.05.25

Dykema Crosses Borders and Practices to Secure $30M+ Acquisition for Managed Network Systems, Inc.

Press Releases

Dykema proudly congratulates Zhone Technologies, Inc., on its successful acquisition of key assets from DZS Inc. through a Chapter 7 bankruptcy proceeding in the U.S. Bankruptcy Court for the Eastern…
02.20.25

Corporate Transparency Act’s BOI Reporting Mandates Reinstated… For Now—Preparing for Upcoming Deadlines and Legislative Challenges

Legal Alerts

BOI reporting requirements under the CTA are back in effect. On February 17, a federal judge lifted the nationwide stay he had issued on January 7 in Smith v. U.S. Department of the Treasury, 6:24-cv…
01.24.25

Supreme Court Allows CTA Enforcement, but Questions Remain

Legal Alerts

On January 23, 2025, the U.S. Supreme Court granted the Secretary of the Treasury’s application to lift a nationwide injunction that had paused enforcement of the Corporate Transparency Act (CTA). The…

View All

San Antonio 210-554-5414

Areas of client focus

Practices

Corporate and Finance Mergers and Acquisitions Private Equity Securities Government Reorganization and Restructuring

Industries

Food and Beverage Power and Utilities Energy and Natural Resources

Wilhelm E. Liebmann

Bar Admissions

Contact

Areas of client focus

Practices

Industries

Latest News and Insights

Contact

Areas of client focus

Practices

Industries

209 Dykema Lawyers Listed in The Best Lawyers in America® 2026 and Best Lawyers “Ones to Watch”

Press Releases

Dykema Earns 18 Practice Area Rankings and 35 Individual Rankings in Chambers USA 2025

Press Releases

Corporate Law Overhaul: Texas Makes Significant Moves to Become Even More Business-Friendly

Legal Alerts

Dykema Crosses Borders and Practices to Secure $30M+ Acquisition for Managed Network Systems, Inc.

Press Releases

Corporate Transparency Act’s BOI Reporting Mandates Reinstated… For Now—Preparing for Upcoming Deadlines and Legislative Challenges

Legal Alerts

Supreme Court Allows CTA Enforcement, but Questions Remain

Legal Alerts

Contact

Areas of client focus

Practices

Industries