Martin Midstream Partners (NASDAQ:MMLP) is a diversified small-cap (~$600 million) MLP with an asset base located primarily in Louisiana and Texas. The general partner is split between Martin Resource Management Corporation, which owns a 51% voting and 50% economic interest, and Alinda Capital Partners, which owns a 49% voting and 50% economic interest. Martin Resource Management Corporation also owns 17.7% of the LP units.
Martin has been around since 1951, when R.S. Martin started Martin Butane Company in Kilgore, Texas, with borrowed money and a single truck to deliver butane. Alinda Capital Partners is a global firm that focuses solely on infrastructure projects. Alinda has $9.4 billion of assets under management.
Martin Midstream operates four business segments.
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