Initial Public Offering

Energy
Initial Public Offering

Summary

Baird served as joint bookrunner in this offering.

About

Lehigh Gas Partners LP (NYSE: LGP) (“Lehigh” or the “Partnership”) recently completed an initial public offering of 6,900,000 common units at a price of $20.00 per unit, generating gross proceeds of $138.0 million. The Partnership intends to use a portion of the net proceeds from the offering to repay existing indebtedness, make a distribution to the Partnership’s sponsor for certain capital expenditures and for general partnership purposes, including working capital and acquisitions.

Lehigh Gas Partners LP is a limited partnership formed to engage in the wholesale distribution of motor fuels, consisting of gasoline and diesel fuel, and to own and lease real estate used in the retail distribution of motor fuels. Since Lehigh’s predecessor was founded in 1992, Lehigh has generated revenues from the wholesale distribution of motor fuels to gas stations, truck stops and toll road plazas and from real estate leases. Lehigh is a distributor of various brands of motor fuel, as well as unbranded motor fuel. Lehigh is among the largest independent distributors by volume of ExxonMobil, BP, Shell and Valero-branded motor fuel in the United States. Lehigh also distributes Sunoco and Gulf-branded motor fuels. The Partnership owns or leases sites in Pennsylvania, New Jersey, Ohio, New York, Massachusetts, Kentucky, New Hampshire and Maine.

For additional information about this transaction, please contact:

Frank Murphy (314) 445-6532
Curtis Goot (314) 445-6540
Kjell Lundal (314) 445-6533
Gary Placek (414) 765-3611
Energy
Initial Public Offering
Date
October 2012
Company
Lehigh Gas Partners LP
Transaction
M&A
Sectors
Energy
Target Location
North America

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