Kirkland & Ellis LLP advised Zenith Energy, L.P., an international liquids and bulk terminaling company, on its decision to form, with Warburg Pincus, Zenith Energy U.S., L.P. and its general partner, Zenith Energy U.S. GP, LLC, and to acquire Arc Logistics Partners LP and its general partner, Arc Logistics GP LLC. Subject to certain closing conditions, Zenith U.S. will acquire, pursuant to a merger, all of Arc Logistics' outstanding common units. Subject to the terms of the definitive transaction agreements, Zenith U.S. will also acquire certain private interests owned by the sponsors of Arc Logistics, including all of the equity interests of Arc Logistics GP LLC. As a result of the transaction, Arc Logistics will become a wholly owned subsidiary of Zenith U.S. The combination creates a leading terminaling business with over 22 million barrels of crude oil, petroleum products and other liquids storage. The full release is available here.
The Kirkland team was led by corporate partners Adam Larson and Kim Hicks and associates William Mabry and Tim Vaughan; debt finance partner Jason Kanner and associates Jessica Woolf and Emmeline Hateley; international arbitration and dispute resolution partners Javier Rubinstein and Lauren Friedman; environmental transactions partner Stefanie Gitler and associate Aaron Newell; tax partners Mark Dundon and David Grenker; and employee benefits partner Alexandra Mihalas and associate Adria Crowe.