Frank A. Segall

Chair, Business Law | Chair, Finance | Co-Chair, Cannabis Business & Law Advisory | Partner

Boston, MA
D: 617.345.3684

"At Burns, you get attorneys that are true business advisors focused on their clients' success. I am here for my clients and their families—their business is my business, their issues are my issues. We are relationship-driven, not hourly rate-focused."


Frank Segall leads Burns & Levinson as part of its Executive Committee and as Chair of the firm’s Business & Finance groups as well as the Cannabis Business & Law Advisory group. Known for his business savvy, thoughtfulness and legal expertise, Frank has helped build the firm’s practice and focus on the needs of growing companies. Highly networked and capitalizing on his business acumen along with lawyering skills, Frank has helped his clients create, develop, and build synergies, negotiated highly complex and sophisticated transactions, secured billions of dollars of financing, brokered strategic partnerships and expanded revenues for his clients.

With a strong background in finance and business operations, Frank and his team regularly negotiate business deals including mergers, acquisitions, sales, syndications, loans, restructuring and equity investments. Frank works as outside general counsel to businesses throughout the world and has deep expertise in a broad base of industries including manufacturers, industrials, technology, transportation, retail and services industries, as well as expertise in commercial lending and structured finance.

Frank also provides counsel to clients in the cannabis industry including investors, lenders, and operators of cultivation and dispensary facilities throughout the country. He was one of the first leading corporate lawyers to enter the space in 2010 and was named an inaugural Cannabis Trailblazer by the National Law Journal. Frank is retained for capital raises, mergers and acquisitions, structuring investments, drafting operative documents, and for general business advice in this rapidly growing industry.



M&A Transactions

  • Mergers, acquisitions and sales of a variety of companies and commercial assets with transactions ranging from several million dollars to over $500 million
  • $500 million acquisition of international distribution company
  • $285 million acquisition of 500 unit franchise company
  • $185 million sale of consumer products company
  • $150 million roll up of several distribution companies in 36 months
  • $100 million sale of specialty chemicals company
  • $100 million sale of distribution company
  • $80 million merger of several professional firms
  • $50 million sale of plastic injection molding company
  • $60 million acquisition of finance company
  • $45 million sale of plastics molding company
  • $20 million simultaneous roll up of three data storage companies
  • $20 million sale of Massachusetts high tech company
  • $20 million sale of distribution company
  • $20 million sale of parking solutions company
  • $10 million sale of chemical distribution company
  • $10 million leveraged buy-out of asset management company


  • Representing borrowers and lenders in billions of dollars of asset based, commercial and real estate financings and restructurings throughout the U.S. and internationally
  • Structured $200 million credit facility for major lending institution
  • Structured $150 million syndicated financing credit facility for major lending institution secured by multiple properties throughout the U.S.
  • Secured and structured $150 million warehouse line for lending facility and raised $3 million in equity
  • Secured and structured $70 million revolving line of credit facility for acquisition of company out of bankruptcy
  • Secured and structured $40 million financing for regional restaurant chain with over 100 ground lease and fee locations
  • Secured and structured $25 million acquisition financing for troubled manufacture
  • Structured $25 million financing secured by patent litigation

Real Estate

  • Development, acquisition, financing, sale and leasing of one million square foot office complex and millions of square feet of office, industrial and residential complexes

Distressed Structured Deals

  • Represent a variety of lenders and companies in restructurings, workouts, bankruptcy liquidations and recovery matters
  • Represented client in the acquisition and financing of four brand companies in approximately 120 days through a combination of assumption of debt, new financings and article IX strategies
  • Secured $20 million of senior and junior debt to refinance client from its current lender avoiding protracted workout and assisted in restructure and sale of manufacturing business
  • Secured buyer and structured liquidating sale of manufacturer to maximize recovery to shareholders
  • Structured repurchase of company by founder within 12 months after his sale to buyer including arranging for secured debt lender to remain in transaction
  • Secured senior debt, mezzanine debt and equity for manufacturer in bankruptcy and assisted its recovery from bankruptcy
  • Structured investment and acquisition of majority control in distressed manufacturing company and restructured debt
Education & Admissions
Bar Admissions


U.S. District Court, Massachusetts


J.D., Columbia University, 1984

B.A., cum laude, Brandeis University, 1981

Honors & Awards

Honors & Awards

Named a "New England Trailblazer" by Am Law (2019)

Named a "Cannabis Trailblazer" by the National Law Journal (2018)

Massachusetts Super Lawyers



Boston Bar Association

Massachusetts Bar Association

Speaking Engagements

Speaking Engagements

"2021 Annual ABL Panel," Moderator, Turnaround Management Association – Northeast Chapter, May 2021

"Keynote Interview with Mitchell Kahn and Joseph Lusardi," Interviewer, Burns & Levinson's Fourth Annual State of the Cannabis Industry Conference, October 2020

"Smoking Hot Topics: M&A, Investing, and Capital Raising," Moderator, Burns & Levinson's Fourth Annual State of the Cannabis Industry Conference, October 2020

"Fireside Chat with Steven Hoffman," Interviewer, Burns & Levinson's Fourth Annual State of the Cannabis Industry Conference, October 2020

"Episode 17: Lobey's Roundtable," Guest Speaker, Bob Lobel's New England POTcast, October 2020

"Let's Talk: Cannabis Banking," Micro-Webinar Host, Burns & Levinson's Cannabis Business & Law Advisory Group, July 2020

"Hemp + CBD | SBA + Lending," Host, Webinar: Coast-to-Coast Regulatory Update with Vicente Sederberg LLP, April 2020

"Coronavirus + Cannabis," Speaker, Webinar: Coast-to-Coast Regulatory Update with Vicente Sederberg LLP, March 2020

"The Cannabis Lawyers," Guest Speaker, Bob Lobel's New England POTCast, October 2019

"New Opportunities in Asset Based Lending; A Fresh Look at Cannabis, MCA 
Finance and Factoring", Moderator, 13th Annual Credit & Bankruptcy Syposium, May 2019

"The 2019 Money Talk: Banking + Investing in Cannabis", Panelist, New England Cannabis Convention, March 2019

"Integrity is a Two-Way Street: Vetting Investments and Vetting Investors," Panelist, National Cannabis Industry Association Seed to Sale Show, February 2019

"State of the Cannabis Industry," Moderator, Burns & Levinson's and Viridian Capital Advisors' Second Annual State of the Cannabis Industry Conference, October 2018

"Cannabis and Banking," Speaker, New England Association of Financial Professionals, September 2018

For numerous years, Frank has acted as the moderator at the Turnaround Management Association's Asset-Based Lending Panel.

Articles & Publications

Articles & Publications


"4 Cannabis Lending Strategies for Financial Institutions," Law360, January 2021

"Is the Time Ripe for Lending to Marijuana-Related Businesses?," Journal of Corporate Renewal, May 2019


"Verano Valued at $2.8B in Go-Public Merger," Law360, December 2020

"Reed Smith Steers Pot Tech Co.'s $40M Fund Round," Law 360, December 2020

"Mass. Gov. Sued For Closing Cannabis Shops Due To Virus," Law360, April 2020

"Snap Judgments," Massachusetts Lawyers Weekly, January 2018

"Five Tips from Lawyers for Investing in Marijuana in Mass.," Boston Business Journal, October 2017

"Three State-Chartered Banks Said to be Working in Marijuana Business, Banker & Tradesman, October 2017

"Banks Cautiously Enter Marijuana Industry Financing," Banker & Tradesman, July 2017

"Looking for a Leg Up on the New Pot Business," Boston Business Journal, February 2017


"Q&A: Business Financing During COVID-19," Boston Citybizlist, March 2020

"In the Turbulent, Young Cannabis Industry, Legal Veterans Provide a Steadying Hand," Corporate Counsel Business Journal, December 2019

"High-Times Ahead for Cannabis-Related Business," Corporate Counsel Business Journal, November 2018

"Growing Their Own," Metro Corporate Counsel, May 2017

Frank A. Segall
  • Business, Finance & Transactions
  • Cannabis Business & Law Advisory
  • Cannabis Banking
  • Cannabis Restructuring
  • Family-Owned Business
  • Finance
  • Financial Restructuring & Distressed Transactions
  • Middle-Market M&A and Private Equity
  • Venture Capital & Emerging Companies

J.D., Columbia University, 1984

B.A., cum laude, Brandeis University, 1981



U.S. District Court, Massachusetts

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