KILGORE, Texas, Aug. 14, 2013 (GLOBE NEWSWIRE) -- Martin Resource Management Corporation ("MRMC"), owner of the general partner of Martin Midstream Partners L.P. (Nasdaq:MMLP) ("MMLP" or the "Partnership") announced today that certain affiliated investment funds managed by Alinda Capital Partners ("Alinda") will acquire a 49% voting interest (50% economic interest) in MMGP Holdings LLC ("Holdings"), a newly-formed sole member of Martin Midstream GP LLC ("MMGP"), the general partner of MMLP. Alinda is one of the world's largest infrastructure investment firms with approximately $7.8 billion in equity commitments. The transaction is expected to close in the third quarter of 2013 and is subject to customary closing conditions.
Ruben Martin, President and Chief Executive Officer of MRMC, said, "We are delighted to partner with Alinda. Their existing midstream asset portfolio, together with MMLP's existing asset base and operational expertise, creates a unique opportunity for significant growth for the Partnership over the next several years. We look forward not only to potential asset drop-downs from Alinda, but also additional acquisitions and development opportunities, many of which would have previously been out of reach for the Partnership. Alinda's large capital base and desire for future additional investment in MMLP should serve the Partnership well as we move forward together as partners."
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