Martin Resource Management Corporation Issues Comment to Nut Tree Capital and Caspian Capital Proposal

Martin Resource Management (MRMC), owner of Martin Midstream Partners L.P.

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07/11/2024 - 04:05 PM EDT

KILGORE, Texas--(BUSINESS WIRE)-- Martin Resource Management Corporation (“MRMC”), owner of the general partner of Martin Midstream Partners L.P. (NASDAQ:MMLP) (“MMLP”), today announces that in regard to the proposal announced by Nut Tree Capital and Caspian Capital with respect to MMLP, MRMC reiterates the statement in our publicly disclosed proposal that we are interested only in acquiring all of the outstanding common units of MMLP and have no interest in selling our interests in MMLP or the general partner or in pursuing any other strategic alternative involving MMLP or the general partner. We are not able to further comment at this time on our proposal to acquire the outstanding common units of MMLP, as we remain in active discussions with the Conflicts Committee of the Board of Directors of the general partner of MMLP. If we are not able to reach a definitive agreement with respect to the potential transaction, we will announce the withdrawal of our proposal.

About Martin Resource Management Corporation

Martin Resource Management Corporation (“MRMC”) through its various subsidiaries, is an independent provider of marketing and distribution of hydrocarbon and hydrocarbon by-products including asphalt, diesel, natural gas liquids (“NGLs”), crude oil, base and process oils, and other bulk tank liquids. MRMC owns 100% of the equity interests in the general partner of Martin Midstream Partners L.P. (NASDAQ:MMLP) and approximately 15.7% of the outstanding limited partnership units.