Focuses on mergers and acquisitions (M&A) transactions for both private equity and strategic clients.
Advises on corporate governance and other general corporate matters.

Ashton Barrineau Butcher is a deal-focused M&A partner who advises strategic acquirers and private equity sponsors on complex, business critical transactions across a wide range of industries. She serves as lead deal counsel on acquisitions, dispositions, divestitures and reorganizations, bringing a commercially grounded, execution oriented approach that helps clients close efficiently, manage risk and advance their growth strategies.

Ashton represents clients across sectors including convenience retail, manufacturing, aggregates and building materials, technology, healthcare, financial services, media, retail and hospitality.

Her practice also includes advising boards and senior leadership on corporate governance and other general corporate matters that arise throughout the deal lifecycle.

Representative Work

Private Equity M&A

Advised Francisco Partners, a leading global investment firm that specializes in partnering with technology and technology-enabled businesses, on its growth investment and funding for the combination of legendary sheet music publisher Hal Leonard and Muse Group, an industry leader in music content and creation.
Represented a sponsor in multiple aggregates mining acquisitions across the United States.
Represented a fund in its acquisition of an industrial components manufacturer.
Represented a fund in acquiring a wireless condition monitoring provider.
Represented a fund in acquiring an indoor adventure park company.

Represented a fund in its $151 million sale of LCI to Verisk Analytics, Inc.
Represented a fund in acquiring a fluid power and power train distributor.
Represented a fund in its $85 million sale of Southern Tide to Oxford Industries, Inc.
Represented a fund in acquiring 45+ quick service restaurant locations.

Strategic M&A

Represented 7-Eleven, Inc. in its $21 billion acquisition of Speedway, the largest transaction in convenience retail history and the largest U.S. buy side M&A matter in which the firm has served as counsel.
Represented 7-Eleven, Inc. in its $3.3 billion acquisition of more than 1,100 Sunoco stores and in its subsequent $1 billion acquisition of 204 Sunoco stores.
Represented Strata Corporation, a leading construction materials and contracting services provider, in its $454 million sale to Knife River Corporation.
Represented New Fortress Energy, Inc. in its $2 billion sale of 11 liquid natural gas infrastructure vessels to a joint venture with Apollo Global Management.
Represented Trinity Industries, Inc. in its acquisition of Holden America and on its $375 million sale of its highway products business to Monomoy Capital Partners.
Advised Armada Materials, aproducer of aggregates, asphalt and other essential construction materials, in its acquisition of Volunteer Materials and its affiliates.
Advised Fluid System Components, Inc., a worldwide leader in the fluid power industry, in the acquisition of Norcan Fluid Power Ltd.
Advised Hydrotech, Inc., a leader in the fluid power industry, in the acquisition of Isaacs Fluid Power Equipment Company.
Represented U.S. Concrete, Inc. in numerous acquisitions nationwide.

Education
J.D., Southern Methodist University School of Law, magna cum laude, 2014
B.A., University of Texas at Austin, with special distinction, 2011

Bar Admissions
Texas

Recognitions

D Magazine Best Lawyers Under 40, 2024-2026.
Texas Young Lawyers Association, President’s Award of Merit, 2024-2025.
Texas Young Lawyers Association, Joseph M. Pritchard Inn Outstanding Director Award, 2023-2024.
The Deal, Rising Star, 2023.
Texas Young Lawyers Association, Outstanding First Year Director, 2022-2023.
Best Lawyers in America, Ones to Watch, Mergers and Acquisitions Law; Corporate Law; Corporate Governance and Compliance Law, 2023-2026.
Best Lawyers in America, Ones to Watch, Corporate Governance; Compliance Law, 2022.

Affiliations and Public Service

Fellows Secretary/Treasurer, DAYL Foundation, 2026.
Emerging Technologies Committee, State Bar of Texas, 2025–2027.
DAYL Foundation Nominating Committee, 2025.
Texas Young Lawyers Association, Chair, Programming Committee of the Board of Directors (2025–2026); Vice President (2024–2025); Chair, Public Service Committee of the Board of Directors (2023–2024); Board of Directors (2022-current).
Dallas Bar Association WE LEAD (Women Empowered to Lead in the Legal Profession), Class of 2024.
Co-Chair, Akin Dallas Women’s Resource Group.
M&A Staffing Partner, Akin Dallas Corporate Section.
Partner Liaison, Akin Dallas Associates and Counsel Committee.
Fellow, Texas Bar Foundation.
Fellow, DAYL Foundation.
Ex Officio Member, Board of Directors, Dallas Association of Young Lawyers.
Member, Joseph M. Pritchard Inn.
Member, Dallas Association of Young Lawyers.
Member, Dallas Women Lawyers Association.
Member, Dallas Bar Association.
Member, State Bar of Texas.
Mustang Exchange Mentor, SMU Dedman School of Law.
Ursuline Advocate, Ursuline Academy of Dallas.

Speeches and Publications

Panelist, “Guiding the Gavel: Evolving Legal Leadership,” SXSW, March 10, 2025.
Presenter, “Understanding and Negotiating Purchase Price Adjustments and Earnouts,” Dallas Association of Young Lawyers, December 11, 2024.
Presenter, “Dealmaker’s Bootcamp: M&A Basics,” Akin, October 18, 2023.
Panelist, “Go from Good to Greatness: Discussing How to Become a Great Associate,” Dallas Association of Young Lawyers, August 29, 2023.
“Ethical Considerations for the M&A Attorney,” Dallas Bar Association, Mergers and Acquisitions Section, April 10, 2018.