Genesis Energy Now Says Davison Family Owns 76.9% of Class B Units

Today, Genesis Energy, L.P. GEL announced that certain members of the Davison family of Ruston, Louisiana have made a third substantial investment in the partnership. The Davison family led an investor group that acquired 2,165,002 Class A common units (or 2.7% of those outstanding) and 34,998 Class B common units (or 87.5% of those outstanding) in a private placement from the Quintana Capital Group--a Houston-based private equity fund--and certain of its affiliates and co-investors. That transaction, which closed on Friday, October 5, 2012, resulted in certain members of the Davison family, collectively, owning approximately 17.2% of the partnership's outstanding Class A units and 76.9% of the partnership's outstanding Class B units, which entitle the Davisons to elect at least a majority of the members of the board of directors of the partnership's general partner. Messrs. James E. Davison, Sr. and James E. Davison, Jr. have been on our board since 2007. The Davison investor group also included three other continuing members of our board--Mrs. Sharilyn Gasaway and Messrs. Corbin J. Robertson, III and Grant E. Sims, who also is our Chief Executive Officer.