Multi-Office Locke Lord Team Advises Adams Resources & Energy in Repurchase of Outstanding KSA Industries Shares

A Locke Lord team led by Gene McDermott (Providence) advised a Special Committee of the Adams Resources & Energy Board of Directors in the repurchase of all shares of Adams common stock owned by KSA Industries, Inc., the company's largest stockholder, and members of the family of the late Kenneth Stanley Adams, Jr., the company's founder, who are affiliated with KSA. The transaction was reviewed and approved by a Special Committee of the Adams Board of Directors. The total purchase price was approximately $70 million for 1.9 million shares or $36 per share. For more information, see the press release. Additional assistance was provided by Stan Keller, Megan Foscaldi (both of Boston), Kevin Peter (Houston) and Rob Evans (New York).
Posted on December 13, 2022