Ben Martin has experience assisting clients throughout a legal entity’s life-cycle, from its incorporation and establishment of governance procedures to its termination through merger, conversion or other business combination.
His M&A experience includes the representation of public companies, private investment firms and private companies in the acquisition and sale of public and private companies. In his M&A experience, he has coordinated with financial advisors to the firm’s clients to help manage robust auction processes in search of the most attractive disposition opportunity. He has also assisted clients in their investment in strategic joint ventures.
Ben has also represented issuers in various securities offerings that have collectively raised more than $8 billion.
Recent Notable Matters
Mineral acquisition fund — $455 million total cash sale of mineral and royalty interests located in the Permian Basin and Mid-Continent to Kimbell Royalty Partners
ProPetro Services, Inc. — sale of coiled tubing assets to STEP Energy Services (USA) Ltd.
Drilling Tools International, Inc. — business combination with ROC Energy Acquisition Corp., a special purpose acquisition company, that resulted in DTI becoming a US publicly listed company
Phillips 66 — realignment of its economic and governance interests in DCP Midstream, LP and Gray Oak Pipeline, LLC through the merger of existing joint ventures owned by Phillips 66 and Enbridge Inc.
Bison Oil & Gas Partners II, LLC — $300 million total cash divestiture DJ Basin operator to Civitas Resources, Inc., which was restructured from stock and cash consideration prior to closing
Alinda Capital Partners — sale to Senterfitt Holdings Inc. of certain entities that owned a 49 percent voting interest (50 percent economic interest) in MMGP Holdings LLC, the owner of the general partner of Martin Midstream Partners L.P.
Kinder Morgan, Inc. — $1.225 billion acquisition of Stagecoach Gas Services LLC, a natural gas pipeline and storage joint venture between Consolidated Edison, Inc. and Crestwood Equity Partners LP
Wells Fargo Bank, National Association — as lender, administrative agent and collateral agent in the successfully completed exit financing for Diamond Offshore Drilling, Inc. and certain affiliates. The exit financing included approximately $400 million in a revolving credit facility, $100 million in a term loan and over $85 million in privately placed notes.
J&J Worldwide Services — sale to Arlington Capital Partners, a DC-based private equity firm
Financial advisor to the Conflicts Committee of the Board of Directors of Teekay Offshore GP L.L.C. — sale of publicly held common units of Teekay Offshore Partners L.P. to Brookfield Business Partners L.P.
Prosperity Bancshares, Inc. — $2.1 billion acquisition of LegacyTexas Financial Group, Inc., which is the second largest bank merger in the history of Texas. Awarded 2020 M&A Transaction of the Year by The Texas Lawbook and the Houston Chapter of the Association of Corporate Counsel.
Financial Advisor to Conflicts Committee of Summit Midstream Partners — agreement to prepay $100 million of a deferred purchase price obligation and fix the remaining obligation due in 2020 at $303.5 million and eliminate Summit Midstream Partners, LP economic general partner interest and incentive distribution rights in exchange for 8.75 million Summit Midstream Partners, LP common units
PreCheck, Inc. — sale to Cisive, a global provider of compliance-driven human capital management and risk management solutions
Bluescape Resources Company LLC — investment by BRC Special Situations III LLC, a subsidiary of Bluescape Resources Company LLC, in FirstEnergy Corp.
Holly Energy Partners, L.P. — representing Holly Energy Partners, L.P. in an IDR simplification transaction that will eliminate the incentive distribution rights held by its general partner and convert its general partner interest into a non-economic general partner interest in exchange for the issuance of common units of Holly Energy valued at $1.25 billion
Merchants' Choice Payment Solutions — represented Delta Card Services Inc., the holding company for Merchants’ Choice Payment Solutions, in an acquisition of substantially all the assets of MCPS by Paysafe Group plc for $470 Million
VTTI Energy Partners LP — represented the Conflicts Committee of the Board of Directors of the general partner of VTTI Energy Partners LP in a merger agreement between VTTI Energy Partners LP and VTTI B.V. pursuant to which VTTI B.V. will acquire, for cash, all of the outstanding publicly held common units of VTTI Energy Partners LP
Midcoast Energy Partners, L.P. — represented the Conflicts Committee of the Board of Directors of the general partner of Midcoast Energy Partners, L.P. in a merger agreement between MEP and Enbridge Energy Company, Inc., an indirect subsidiary of Enbridge Inc., whereby EECI will acquire, for cash, all of the outstanding publicly held common units of MEP
DCP Midstream, LLC — 50/50 joint venture between Phillips 66 and Spectra Energy, in a transaction combining all of the assets and debt of DCP Midstream, LLC with DCP Midstream Partners, LP. The combination creates the largest gathering and processing master limited partnership in the United States with a pro-forma enterprise value of approximately $11 billion
Specified Air Solutions — a portfolio company of The Sterling Group, in is acquisitions of PoolPak International LLC and Dectron Inc.
Phillips 66 Partners — entry into a 50/50 joint venture with Plains All American Pipeline to own and operate the STACK Pipeline, which will transport crude oil from Oklahoma’s STACK play to Cushing, Oklahoma
The Sterling Group — acquisition of North American Industrial Services, an industrial maintenance company
Dexter Axle Company — a portfolio company of The Sterling Group, in its acquisition of AL-KO Vehicle Technology (VT) from AL-KO Kober SE and various other related add-on acquisitions
Bluescape Energy Partners LLC — investment by Energy Strategic Advisory Services LLC (ESAS), a subsidiary of Bluescape Energy Partners LLC, in EXCO Resources, Inc.
The Sterling Group LP — acquisition of a manufacturer of bathtubs and showers and various related add-on acquisitions
Leading midstream MLP — $1 billion debt offering