News Releases

Baker Botts Represents K-Sea Transportation Partners L.P. in First IPO of 2004

Release

On January 8, 2004, K-Sea Transportation Partners L.P. priced its initial public offering of 3,625,000 common units at $23.50 per unit in the first initial public offering of 2004. K-Sea Transportation Partners’ common units began trading on the New York Stock Exchange on January 9, 2004 under the symbol KSP. The initial public offering was led by Lehman Brothers and UBS Investment Bank and co-managed by McDonald Investments Inc., Raymond James and Jefferies & Company, Inc.

K-Sea Transportation Partners was formed to provide refined petroleum product marine transportation, distribution and logistics services in the northeastern United States and the Gulf of Mexico. The partnership currently has a fleet of 35 tank barges, 3 tankers and 18 tugboats serving a wide range of customers, including major oil companies, oil traders and refiners. The initial public offering represented a 42.6% limited partner interest in the partnership. The 2% general partner interest and the remaining 55.4% limited partner interest are being retained by affiliates of Jefferies Capital Partners and management of the partnership.

The Baker Botts L.L.P. team that represented K-Sea Transportation Partners in the IPO include Josh Davidson, Sean T. Wheeler, Timothy Taylor, Gray Jennings, Rufus Cormier, Steve Krebs, James Leader, James Raborn, Michael Bresson, Jason Beauvais, Ian Brown, Kelly Heffernan, Hillary Holmes, Steve Lindsey, Paul F. Perea, Chris Pratt, Jackie Ramos and Alia Vinson, all of the firm’s Houston office; Renn Neilson and Matt Larsen, of the firm’s Dallas office; and Derek McDonald and Matt Paulson, of the firm’s Austin office.

Baker Botts L.L.P., founded in 1840, is a leading international law firm with offices in Austin, Baku, Dallas, Houston, London, Moscow, New York, Riyadh and Washington. With more than 650 lawyers, Baker Botts provides a full spectrum of legal services to regional, national and international clients. For more information, please visit www.bakerbotts.com.