News

ArcLight has made an offer to acquire American Midstream Partners for $6.10 per share. Houston, Texas-based American Midstream Partners owns, operates, develops and acquires midstream energy assets.

PRESS RELEASE

BOSTON, Sept. 28, 2018 /PRNewswire/ — On September 27, 2018, Magnolia Infrastructure Holdings, LLC (“AMID Acquisition”), a subsidiary of ArcLight Energy Partners Fund V, L.P., delivered a non-binding offer (the “Offer Letter”) to the board of directors of the general partner of American Midstream Partners, LP (the “Issuer”) to acquire all of the issued and outstanding publicly held Common Units of the Issuer that are not owned by AMID Acquisition or its affiliates in exchange for $6.10 in cash for each such Common Unit.

There can be no assurance that any discussions that may occur between AMID Acquisition and the Issuer with respect to the offer contained in the Offer Letter will result in the entry into a definitive agreement concerning a transaction or, if such a definitive agreement is reached, will result in the consummation of a transaction provided for in such definitive agreement. Entry into a definitive agreement concerning a transaction and the consummation of any such transaction is subject to a number of contingencies that are beyond the control of AMID Acquisition, including the satisfactory completion of due diligence, the approval of the conflicts committee of the board of directors of American Midstream GP, LLC, the general partner of the Issuer, the approval by holders of a majority of the outstanding Common Units of the Issuer, and the satisfaction of any conditions to the consummation of a transaction set forth in any such definitive agreement.

Forward-Looking Statements
Certain information provided in this press release constitutes forward-looking statements. Although AMID Acquisition believes these statements are based on information and assumptions which are current, reasonable and complete, these statements are necessarily subject to a variety of risks and uncertainties pertaining to timing and completion of the transaction. While AMID Acquisition makes these forward-looking statements in good faith, should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary significantly from those expected. Except as may be required by applicable securities laws, AMID Acquisition assumes no obligation to publicly update or revise any forward-looking statements made herein or otherwise, whether as a result of new information, future events or otherwise.

Important Notice to Investors
This press release is not a solicitation of a proxy, an offer to purchase nor a solicitation of an offer to sell Common Units of the Issuer. This press release is not a substitute for any proxy statement or other filings that may be made with the Securities and Exchange Commission (the “SEC”) by AMID Acquisition or the Issuer, as applicable, regarding a proposed transaction. If any proxy statement or other filings regarding a proposed transaction are made with the SEC, investors are urged to thoroughly review them in their entirety because they will contain important information. Any such proxy statement or other filings regarding a proposed transaction will be available free of charge at the SEC’s website (www.sec.gov) and from AMID Acquisition and the Issuer, as applicable.

About ArcLight
ArcLight is one of the leading private equity firms focused on energy infrastructure investments. Founded in 2001, the firm helped pioneer an asset-based private equity approach to investing in the dynamic energy sector. ArcLight has invested over $20 billion in over 100 transactions since inception. Based in Boston, the firm’s investment team employs a hands-on value creation strategy that utilizes its in-house technical, operational, and commercial specialists as well as the firm’s 850-person asset management affiliate. More information about ArcLight, and a complete list of ArcLight’s portfolio companies, can be found at www.arclightcapital.com.