Alinda Capital Partners’ Sale of Interest in Martin Midstream Partners

Bracewell LLP advised Alinda Capital Partners on the deal.

Martin Resource Management Corporation (“MRMC”), which through its wholly owned subsidiary owns a 51% voting interest (50% economic interest) in MMGP Holdings LLC (“Holdings”), the sole owner of Martin Midstream GP LLC (the “General Partner”), which is the general partner of Martin Midstream Partners L.P. (Nasdaq: MMLP) (“MMLP”), announced that Senterfitt Holdings Inc. (“Senterfitt”) indirectly acquired the 49% voting interest (50% economic interest) in Holdings owned by certain affiliated investment funds managed by Alinda Capital Partners (“Alinda”) by purchasing certain entities from Alinda. Senterfitt is a privately held investment entity owned by Ruben S. Martin, III, President and Chief Executive Officer of MRMC.

As part of the announced transaction, Martin Resource LLC (“MRLLC”), a wholly-owned subsidiary of MRMC, has entered into call option agreements (the “Agreements”) with the Senterfitt subsidiaries, which own the membership interest in Holdings. Subject to certain conditions, MRLLC will have the right, but not the obligation, to purchase all of the membership interests of Holdings owned by such subsidiaries for a period of ten years.

The Bracewell team included: G. Alan Rafte (Picture), Benjamin J. Martin, Elizabeth L. McGinley, Chase Edmunds and Michael A. Recchia.

Involved fees earner: Chase Edmunds – Bracewell LLP; Benjamin Martin – Bracewell LLP; Elizabeth McGinley – Bracewell LLP; Alan Rafte – Bracewell LLP; Michael Recchia – Bracewell LLP;

Law Firms: Bracewell LLP;

Clients: Alinda Capital Partners;

Martina Bellini

Author: Martina Bellini