Mike Recchia advises clients on the US tax aspects of mergers and acquisitions, joint ventures, dispositions, and debt and equity investments primarily in the energy, infrastructure and real estate industries. He represents public and private companies as well as private equity funds. Prior to joining Bracewell, Mike regularly advised major financial institutions on the US tax aspects of asset securitizations (including CLOs, REMICs, REITs and CRE-CLOs), structured notes, swaps and other derivatives transactions.
Mike is a member of the New Jersey Composting Council and Sustainable Jersey City, nonprofits focused on environmental stewardship and renewable energy.
Recent Notable Matters
Arroyo Energy Investment Partners LLC — sale of two US electric power generation investments, Brandywine and Broad River. The sale includes more than 1,100 MW of power generation.
Kinder Morgan, Inc. — acquisition of landfill assets from MAS CanAm, LLC, consisting of a renewable natural gas facility in Arlington, Texas and medium Btu facilities in Shreveport, Louisiana and Victoria, Texas for consideration of $355 million
Titus Oil & Gas Production, LLC and Titus Oil & Gas Production II, LLC — $627 million divestiture of New Mexico assets located in the northern Delaware Basin owned by Titus Oil & Gas Production, LLC, Titus Oil & Gas Production II, LLC, and their affiliates to Earthstone Energy, Inc. (NYSE:ESTE). The aggregate purchase price consists of $575 million in cash and approximately 3.9 million shares of Earthstone’s Class A common stock valued at $52 million based on a closing share price of $13.51 on June 24, 2022.
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.
Sol Systems — minority investment from KKR to scale Sol Systems’ Impact + Infrastructure approach and the formation of a strategic partnership with a commitment from KKR of up to $1 billion to acquire shovel-ready solar development projects
Sixth Street — $700 million acquisition of equity interests in joint venture owning various energy products pipelines and related logistics assets
DT Midstream — $750 million revolving credit facility and $1 billion term loan B, in connection with its spin-off from DTE Energy Company, as borrower
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
Sabalo Energy, LLC — sale of Midland Basin assets to Laredo Petroleum Inc. for $606 million in cash and 2.507 million shares of Laredo’s common stock
Cornerstone Building Brands, Inc. — acquisition of Prime Window Systems, LLC
Publications and Speeches
“Federal Tax Incentives for Renewable Energy Projects - Before and After the Inflation Reduction Act of 2022,” HealthTrust Decarbonization Summit, August 26, 2022.
“Tax Considerations in Debt Restructurings and Workouts,” TEI Houston Tax School, October 4-8, 2021.
“NJ's Food Waste Recycling Mandate for Businesses: Creating a Sustainable Food Eco-System,” New Jersey League of Conservation Voters, June 2021.
“Ask the Experts: Composters Technical Expertise,” NYS Organics Summit, April 2021.
“Transition From IBOR to Alternative Rates Avoid Tax Under Proposed Regulations,” Journal of Taxation of Investments, 2020.
Certified Public Accountant, New Jersey