CVR Partners LP

CVR Partners LP

CVR Partners LP

Overview
Date Founded

2007

Headquarters

2277 PLAZA DRIVE, SUITE 500, SUGAR LAND, TX, 77479

Type of Company

Public

Employees (Worldwide)

286

Industries

Chemicals
Agriculture & Mills

Company Description

CVR Partners LP is a holding company, which engages in the nitrogen fertilizer business. Its products include ammonia and urea ammonium nitrate fertilizers. The company was founded on June 1, 2007 and is headquartered in Sugar Land, TX.

Contact Data
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Executives & Employees

President & Chief Executive Officer

Executive Chairman

Executive Vice President & Chief Financial Officer

Secretary, Executive Vice President & General Counsel

Chief Accounting Officer & Corporate Controller

Head-Investor Relations

Vice President-Environmental, Health, Safety & Security

Director of the General Partner

Director of the General Partner

Director of the General Partner

Board of Directors

Chief Executive Officer, President & Director at CVR Energy, Inc.

Former Chief Operating Officer at Insight Portfolio Group LLC

Co-General Counsel at Icahn Enterprises LP

Chairman & Chief Executive Officer at H.J. Heinz Co. Ltd.

Director of the General Partner at CVR Refining LP

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CVR Partners LP
Owners & Shareholders
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Raging Capital Management predominately employs a long-short strategy on behalf of the funds, which focuses mainly on small- to mid-cap US companies. Each SPV generally holds a specific underlying investment, which may be held directly by the funds or used to facilitate a specific co-investment opportunity.Raging Capital seeks to achieve superior long-term, absolute, risk-adjusted returns regardless of overall market performance without taking outsized risks, and to maximize after tax returns. To achieve this, the firm employs a hedged/long-short, generalist investment strategy that invests primarily in equity and debt securities of small to mid-cap US companies, with primary focus on companies that are not well covered by Wall Street analysts. Raging Capital also selectively executes activist strategies, which may include advocating to change the board composition, corporate strategy and/or financial strategy of the funds' portfolio companies when they believe such actions will help protect and maximize the value of the funds' investments. Raging Capital uses a fundamental and research-driven in which returns are derived from security selection, not market direction. In managing the funds, Raging Capital may use complementary derivatives in order to selectively enhance returns and/or reduce risk.Raging Capital Management is an activist firm and is included in the SharkWatch50 as one the 50 most prominent activist investors.

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Glendon Capital Management (GCM) focuses on investing in distressed situations. The firm's investment strategy seeks to execute credit and equity investments in markets experiencing distress and dislocation, as well as adjacencies to those markets. This strategy is designed to exploit the cyclicality of credit markets and the assets financed by traditional credit investors. The firm seeks to generate substantial appreciation in their investments as market stresses subside, often as a result of restructuring, reorganization or the return of normal markets and liquidity conditions. Preservation of capital is a primary goal and GCM focuses on conservative underwriting of the investment opportunities they pursue and seeks appropriate downside protections with respect to their investments.GCM invests across regions, industries, asset classes and types of instruments as dislocations are inherently episodic in nature. The fund and separate accounts may invest in and hold a variety of instruments, including bank loans, public and private corporate bonds, municipal and sovereign debt, asset-backed securities, equity securities received in connection with debt restructurings or otherwise, and investments in private equity. Investments may also include a variety of derivative instruments or short positions for investment and hedging purposes.GCM expects their investment strategy will be executed primarily through the following categories of distress/dislocation: Stressed and Distressed Company Securities; Post-Reorganization Securities; Downgraded Securities (\"Fallen Angels\"); Tax-Exempt and Sovereign Bonds; Asset-Backed Securities; and Special Situations.

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HITE Hedge Asset Management focuses exclusively on relative-value trading of master limited partnership and related securities (MLPs). In their hedged portfolios, where they are both long and short MLPs, they focus on minimizing the risks related to being long MLPs, and attempt to generate returns uncorrelated with any asset class. The firm also has a long-only unlevered trading strategy in MLPs for investors seeking unhedged exposure toMLPs that employs the same value-oriented analysis to identify trading and investing opportunities.

Recent Transactions
Details Hidden

CVR Energy, Inc., CVR Partners LP purchase Rentech Nitrogen Partners LP from Rentech, Inc.

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CVR Partners LP issued USD Common Units

Details Hidden

CVR Partners LP issued USD Common Units

Insider Transactions
Details Hidden
Transaction Advisors
Escrow Agent

Advised onCVR Partners LP issued USD Common Units

Underwriter

Advised onCVR Partners LP issued USD Common Units

Auditor

Advised onCVR Partners LP issued USD Common Units

Legal Advisor

Advised onCVR Energy, Inc., CVR Partners LP purchase Rentech Nitrogen Partners LP from Rentech, Inc.

Underwriter

Advised onCVR Partners LP issued USD Common Units

Associate

Advised onCVR Energy, Inc., CVR Partners LP purchase Rentech Nitrogen Partners LP from Rentech, Inc.

Advisors & Consultants
Legal Advisor

Partner at Proskauer Rose LLP

Legal Advisor

Special Counsel at Fried, Frank, Harris, Shriver & Jacobson LLP

Clients

MFA, Inc. supplies agricultural products and services. It offers feeds, seeds, fertilizers, crop protection chemicals, and farm supplies. It also offers marketing function for grain, livestock, and seed. The company was founded in 1914 and is headquartered in Columbia, MO.

United Suppliers, Inc. distributes fertilizers. Its products include adjuvants, biologicals, nutrient enhancement and plant growth regulators. The company was founded in 1963 and is headquartered in Eldora, IA.

Key Stats and Financials As of 2019
Market Capitalization
$291M
Total Enterprise Value
$958M
Earnings Per Share
$-0.31
Revenue
$404M
EBITDAMargin
27.37%
Total Equity
$420M
Net Profit
$-35M
EBITDA
$111M
Enterprise Value Sales
2.37x
Enterprise Value EBITDAOperating
8.56x
Total Debt
$644M
TEVNet Income
-27.4x
Debt TEV
0.67x
Suppliers
State of Kansas (Kansas) Government | Topeka, KS

The government of the U.S. state of Kansas, established by the Kansas Constitution, is a republican democracy modeled after the Federal Government of the United States. The state government has three branches: the executive, the legislative, and the judicial. Through a system of separation of powers, or "checks and balances," each of these branches has some authority to act on its own, and also some authority to regulate the other two branches, so that all three branches can limit and balance the others' authority.

CVR Energy, Inc. Power & Utilities | Sugar Land, Texas

CVR Energy, Inc. is a holding company. The firm engages in the provision of petroleum refining and marketing business. It operates through the following segments: Petroleum and Nitrogen Fertilizer. The company was founded in September 1906 and is headquartered in Sugar Land, TX.

The Southern Company IT Consulting & Services | Atlanta, GA

With 4.4 million customers and more than 43,000 megawatts of generating capacity, Atlanta-based Southern Company (NYSE: SO) is the premier energy company serving the Southeast through its subsidiaries. A leading U.S. producer of clean, safe, reliable and affordable electricity, Southern Company owns electric utilities in four states and a growing competitive generation company, as well as fiber optics and wireless communications. Southern Company brands are known for energy innovation, excellent customer service, high reliability and retail electric prices that are below the national average. Southern Company and its subsidiaries are leading the nation's nuclear renaissance through the construction of the first new nuclear units to be built in a generation of Americans and are demonstrating their commitment to energy innovation through the development of a state-of-the-art coal gasification plant. Southern Company has been recognized by the U.S. Department of Defense and G.I. Jobs magazine as a top military employer and listed by DiversityInc as a top company for Blacks. The company received the 2012 Edison Award from the Edison Electric Institute for its leadership in new nuclear development, was named Platts' 2011 Power Company of the Year and is continually ranked among the top utilities in Fortune's annual World's Most Admired Electric and Gas Utility rankings.

Competitors
Koch Industries, Inc. Chemicals - Wichita, KS

Koch Industries, Inc. began as Wood River Oil and Refining Co. in 1940. The company is based in Wichita, Kansas and is one of the largest private companies in America. Its major industries include refining, chemicals & biofuels, process & pollution control equipment and technologies, minerals, fertilizers, polymers & fibers, commodity trading & service, forest & consumer products, and ranching.Koch companies have supported education and social progress. These philanthropic efforts include support for educational institutions, foundations and programs that study and promote market-based solutions to societal challenge. Koch also works to protect, conserve and enhance natural resources; Koch companies around the world have earned awards for safety, environmental excellence, community stewardship, innovation and customer service since January 2009.

LSB Industries, Inc. Chemicals - Oklahoma City, OK

LSB Industries, Inc. engages in manufacturing, marketing, and sale of chemical products for the agricultural, mining, and industrial markets. It also own and operate facilities in El Dorado, Arkansas (El Dorado Facility), Cherokee, Alabama (Cherokee Facility), and Pryor, Oklahoma (Pryor Facility), as well as facility for Covestro AG (Covestro) in Baytown, Texas (Baytown Facility). The company was founded by Jack E. Golsen in 1968 and is headquartered in Oklahoma City, OK.

Nutrien Ltd. Chemicals - Calgary, Canada

Nutrien Ltd. is a crop nutrient company, which engages in the production and distribution of products for agricultural, industrial, and feed customer. It operates through the following segments: Retail, Potash, Nitrogen, and Phosphate. The Retail segment distributes crop nutrients, crop protection products, seed, and merchandise. It also provides agronomic services to growers. The Potash, Nitrogen, and Phosphate segments produces differentiated chemical nutrient contained in each products. The company was founded on June 2, 2017 and is headquartered in Calgary, Canada.

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