Kirkland, Gibson Steer ArcLight Deal For $278M Midstream Co.

Law360 (March 18, 2019, 7:39 PM EDT) -- American Midstream Partners LP said an affiliate of an ArcLight Capital Partners fund will buy all shares of the company it does not already own, with the Kirkland & Ellis LLP-led private equity firm striking a deal that values the Gibson Dunn & Crutcher LLP-guided seller at $278.3 million.

According to AMID, ArcLight, through an affiliate of ArcLight Energy Partners Fund V LP, will pay $5.25 for each of AMID’s units, representing a premium of around 31 percent on the company’s closing unit price Friday. It is not clear how many units ArcLight currently controls, but AMID noted that the private...

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