Axel Johnson Agrees to Sell Controlling Interest in Sprague Resources to Hartree Partners
Vinson & Elkins advised Hartree Partners (“Hartree”) in a transaction whereby a subsidiary of Axel Johnson Inc. (“Axel Johnson”) has entered into an agreement to sell to Hartree the general partner interest, the incentive distribution rights and all of the limited partner interests that Axel Johnson owns in Sprague Resources LP. The closing of the transaction is expected to occur on or before June 15, 2021. As a well-established global energy and commodities firm, Hartree offers strong strategic sponsorship for Sprague to support its growth in traditional and emerging energy markets.
The V&E team was led by partners John Grand, Lande Spottswood and Dave Oelman, with assistance from senior associate Alex Robertson and associates Ted Belden, Sydney Verner and Jack Peterson. Also assisting were partner Shane Tucker and counsel Dario Mendoza; partner Sean Becker and associate Peter Goetschel; partners David Peck and Ryan Carney, senior associate Christine Mainguy and associate Maddie Brown; partner Matt Dobbins and associate Simon Willis; partner Chris Dawe and associate Ben Steiner; partner Hill Wellford and senior associate Evan Miller; partner Chris Popov; partner Devika Kornbacher and associate Briana Falcon; counsel Damien Lyster and associates Abby Meredith and Michael Carroll; associate Bryant Buechele; and counsel Sarah Mitchell.
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