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Enviva Partners, LP Announces Simplification Transaction and Corporate Conversion

Enviva Partners, LP Announces Simplification Transaction and Corporate Conversion Background Image

Vinson & Elkins advised Enviva Holdings, LP (“Enviva Holdings”) in a definitive agreement pursuant to which all of Enviva Holdings’ ownership interests were acquired by Enviva Partners, LP (“EVA”) and EVA’s incentive distribution rights were eliminated, all in exchange for 16 million EVA common units, representing total consideration of approximately $870 million based on EVA’s 20-day volume-weighted average price ending on October 13, 2021.

EVA concurrently announced that it intends to convert its organizational structure from a master limited partnership to a corporation under the name of Enviva Inc.

The V&E team was led by partners Caroline Blitzer Phillips, Ramey Layne and Ryan Carney, senior associate Jessica Lewis and associates Heather Brocksmith Pearce, Tara Tegeleci, Alice Zhang, Carmen Guidry and Chandler Spinks. Other team members include partner Jim Meyer and associates Dan Henderson and Jeff Slusher; partner Shane Tucker, senior associate Missy Spohn and associate Maddison Riddick; partner Tzvi Werzberger, senior associates Carter Olson and Maya Bobbitt and associate Jeremy Gopin; partner Sean Becker and counsel Christie Alcalá; counsel Scot Dixon; and partners Darren Tucker and Jeff Johnston and senior associate Ryan Will.

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