Suntex Marina Investors’ Recapitalization

Fried Frank and Skadden, Arps, Slate, Meagher & Flom LLP advised acted as counsel to Suntex Marina Investors LLC, while Winston & Strawn represented Resilient Capital Partners and its selling shareholders in the transaction. Simpson Thacher represented Centerbridge Partners.

Suntex Marina Investors LLC (Suntex), a leading owner and operator of marina properties, executed a sale and recapitalization of Suntex to funds affiliated with Centerbridge Partners, L.P. (Centerbridge), and funds affiliated with Resilient Capital Partners, LLC, alongside key management members.

Suntex, the largest standalone, pure-play owner of marinas in the United States, owns and operates 31 market-leading marinas which provide boat docking and storage, as well as related services, across 11 states, with over two-thirds of earnings attributable to high-growth coastal markets.

Centerbridge Partners, L.P. is a private investment management firm employing a flexible approach across investment disciplines —from private equity to credit and related strategies, and real estate— in an effort to find the most attractive opportunities for our investors and business partners.

Resilient Capital Partners, LLC (“RCP”) was founded in 2020 by Johnny Powers and Brucker Stensrud to make investments, alongside experienced management teams and operating partners, in real assets and platforms which provide strong growth potential and resiliency during challenging economic and social climates.

The Fried Frank team was led by corporate partners Andrew J. Colosimo (Picture) and Shant P. Manoukian and included antitrust and competition partner Nathaniel L. Asker; executive compensation & ERISA partners Amy L. Blackman and Jason R. Ertel; litigation partners Joshua D. Roth and Peter L. Simmons; restructuring and insolvency partner Gary L. Kaplan; tax partner Christopher Roman; corporate special counsel Adam B. Cohen and Howard A. Fine; corporate real estate special counsel Melissa A. Meyrowitz; litigation special counsel Michael A. Kleinman; antitrust and competition associate George L. Wolfe; corporate associates Hardin C. Cox III, Alison McCormick, and Chelsea S. Penther; corporate real estate associate Andrew J. Ebersbach; executive compensation & ERISA associates Samantha Steinfeld Rozell and Jaclyn I. Waters; and real estate associates Danielle R. Frank and Alexander B. Sutherland.

The Skadden team was led by M&A partner Allison Land (Wilmington) and associates John Saathoff (Wilmington), Jeffrey Regester (Wilmington) and Julianne Weidman (Wilmington); Tax partners David Polster (Chicago) and Sarah Beth Rizzo (Chicago) and associate Lea Malewitz (Chicago); Executive Compensation and Benefits partner Erica Schohn (New York) and associate Evgueni Gokhmark (New York); and Banking partner K. Kristine Dunn (Los Angeles) and associate Jason Lawler (Los Angeles).

Winston & Strawn represented Resilient Capital Partners with a team which included partners Andrew D. Betaque, Kenneth L. Betts, and Bryan L. Goolsby.

Simpson Thacher represented Centerbridge Partners with Greg Ressa, Steve Stickler, Sam Rudik and Laura Hsu (Real Estate); Benjamin Schaye, Robert Harrison and Erica Sims (M&A); Ryan Bekkerus (Capital Markets); Marcy Geller and Tyler Robbins (Tax); and Greg Grogan, Alisa Tschorke and Garrick Ehlers (Executive Compensation and Employee Benefits).

Involved fees earner: Nathaniel Asker – Fried Frank Harris Shriver & Jacobson; Amy Blackman – Fried Frank Harris Shriver & Jacobson; Adam Cohen – Fried Frank Harris Shriver & Jacobson; Andrew Colosimo – Fried Frank Harris Shriver & Jacobson; Hardin Cox III – Fried Frank Harris Shriver & Jacobson; Andrew Ebersbach – Fried Frank Harris Shriver & Jacobson; Howard A. Fine – Fried Frank Harris Shriver & Jacobson; Danielle Frank – Fried Frank Harris Shriver & Jacobson; Gary Kaplan – Fried Frank Harris Shriver & Jacobson; Michael Kleinman – Fried Frank Harris Shriver & Jacobson; Shant Manoukian – Fried Frank Harris Shriver & Jacobson; Alison McCormick – Fried Frank Harris Shriver & Jacobson; Melissa Meyrowitz – Fried Frank Harris Shriver & Jacobson; Chelsea Penther – Fried Frank Harris Shriver & Jacobson; Christopher Roman – Fried Frank Harris Shriver & Jacobson; Joshua Roth – Fried Frank Harris Shriver & Jacobson; Peter Simmons – Fried Frank Harris Shriver & Jacobson; Samantha Steinfeld Rozell – Fried Frank Harris Shriver & Jacobson; Alexander Sutherland – Fried Frank Harris Shriver & Jacobson; Jaclyn Waters – Fried Frank Harris Shriver & Jacobson; George Wolfe – Fried Frank Harris Shriver & Jacobson; Ryan Bekkerus – Simpson Thacher & Bartlett; Garrick Ehlers – Simpson Thacher & Bartlett; Marcy Geller – Simpson Thacher & Bartlett; Gregory Grogan – Simpson Thacher & Bartlett; Robert Harrison – Simpson Thacher & Bartlett; Laura Hsu – Simpson Thacher & Bartlett; Gregory Ressa – Simpson Thacher & Bartlett; Tyler Robbins – Simpson Thacher & Bartlett; Samuel Rudik – Simpson Thacher & Bartlett; Benjamin Schaye – Simpson Thacher & Bartlett; Erica Sims – Simpson Thacher & Bartlett; Steven Stickler – Simpson Thacher & Bartlett; Alisa Tschorke – Simpson Thacher & Bartlett; Kenneth Betts – Skadden Arps Slate Meager & Flom; Kristine Dunn – Skadden Arps Slate Meager & Flom; Evgueni Gokhmark – Skadden Arps Slate Meager & Flom; Allison Land – Skadden Arps Slate Meager & Flom; Jason Lawler – Skadden Arps Slate Meager & Flom; Lea Malewitz – Skadden Arps Slate Meager & Flom; David Polster – Skadden Arps Slate Meager & Flom; Jeffrey Regester – Skadden Arps Slate Meager & Flom; Sarah Beth Rizzo – Skadden Arps Slate Meager & Flom; John Saathoff – Skadden Arps Slate Meager & Flom; Erica Schohn – Skadden Arps Slate Meager & Flom; Julianne Weidman – Skadden Arps Slate Meager & Flom; Andrew Betaque – Winston & Strawn; Bryan Goolsby – Winston & Strawn;

Law Firms: Fried Frank Harris Shriver & Jacobson; Simpson Thacher & Bartlett; Skadden Arps Slate Meager & Flom; Winston & Strawn;

Clients: Centerbridge Partners; Resilient Capital Partners; Suntex Marina Investors;

Martina Bellini

Author: Martina Bellini