Simpson Thacher represented Stonepeak Partners, L.P. (“Stonepeak”) in connection with the recapitalization of Southern Marinas, LLC and its operating subsidiaries (“Southern Marinas”), effectuated as a sale by affiliates of KSL Capital Partners to Stonepeak. Simpson Thacher also represented Stonepeak on the acquisition of F3 Marina, a 59,000-square-foot facility in Fort Lauderdale, Florida, by Southern Marinas that was also announced today.
Founded in 2018, Southern Marinas owns and operates a diversified portfolio of 16 marinas strategically located across eight U.S. states, including Florida, Idaho, Missouri, New Jersey, New York, North Carolina, Tennessee, and Washington. Southern Marina’s core storage business is comprised of more than 6,700 slips and is complemented by a range of ancillary operations, including fuel, boat rentals, and service.
The Simpson Thacher team included Eli Hunt, Keegan Lopez, Haley O’Connor and Christopher Haughey (M&A); Erik Quarfordt, Carla Fazari, Krista McManus, Helene Marie Snyder, Austin Hart, Joshua Schub, Matthew Acosta, Anne Mummery and Mark Tucker (Real Estate); Jonathan Goldstein and Sean Largey (Tax); Tristan Brown and Ryan Stott (Executive Compensation & Employee Benefits); Brian Gluck, Patrick Wolff, Anita Wu and Seya Lewis-Meeks (Credit); Caroline Geiger and Tally Smitas (Intellectual Property); Carleigh Rodriguez (Environmental); Peter Guryan, Preston Miller, Kelly Karapetyan and Kenny Lo (Antitrust); David Caldwell and Cary Milanes (Anti-Corruption & Sanctions); Mark Skerry and Peter Tian (Foreign Investment & CFIUS) and Steve DeLott (Insurance). Luca Tomasi and Richard Starik also provided valuable assistance.