Formation of a New Joint Venture

Martin Resource Management Corporation and Copperbeck Energy Partners Announce the Formation of a New Joint Venture to be Named Saconix LLC

Copperbeck Energy Partners LLC ("Copperbeck") announced an equity commitment from Tailwater Capital ("Tailwater"), an energy-focused private equity firm based in Dallas, Texas.  Copperbeck is focused on providing strategic midstream and downstream-adjacent infrastructure and services for refineries, petrochemical and industrial concerns.

Copperbeck is led by Chief Executive Officer Wes Martin, who brings extensive transactional and broad energy experience to the platform.  Mr. Martin has served in various senior management capacities at Martin Midstream Partners L.P. (NYSE: MMLP) and Martin Resource Management Corporation ("MRMC") over the past 12 years with his most recent role as Vice President of Corporate Development of both companies.  

Mr. Martin commented, "We're excited to be partnering with the Tailwater team.  Tailwater not only shares our vision of investing in midstream and downstream-adjacent assets and services, but also emphasizes flexibility and creativity in pursuit of that goal.  While the U.S. energy renaissance has been ongoing for several years, we believe the demand pull created from the resurgence in supply is still in the early stages.  With over $150 billion in projects announced in the U.S. alone, the environment is fundamentally strong and supports significant investment in businesses critical to the long-term success of those projects."