Alinda teams for midstream entity

Alinda Capital and MLP Martin Midstream have formed an ‘acquisition and development’ company.   

Alinda Capital Partners has joined with 11-year-old publicly traded master limited partnership (MLP) Martin Midstream Partners for a newly created entity, according to a press release.

Infrastructure fund company Alinda is 50 percent owner of MMGP Holdings, a “sole member” of ‘Martin Midstream GP,’ the general partner (GP) under Martin Midstream Partners, the release said.

The board of Martin Resource Management Corporation (MRMC), owner of Martin Midstream Partners, as well as the Alinda investment committee, approved the transaction, the release noted. The deal is expected to close by the end of September. MRMC is a Kilgore, Texas-based bulk liquid transportation and storage provider.

MRMC in a statement said the partnership with Alinda provided Martin Midstream with “potential asset drop-downs […] but also additional acquisitions and development opportunities [….] previously out of our reach”.

In the energy industry, midstream infrastructure is dedicated to the transportation and storage of electric power as well as oil and gas.

In midstream, Alinda, with $7.8 billion under management, is an investor in Houston Fuel Oil Terminal Company, natural gas storage company NorTex Midstream Partners, and 50 percent owner of RIGS Haynesville Partnership Company, a 464-mile pipeline.

Neither Alinda nor Martin Midstream disclosed the cost of the transaction. Greenwich, Connecticut-headquartered Alinda is also an investor in transportation infrastructure as well as water and wastewater treatment.