Transmontaigne Partners' locations in the US
Colorado-based Transmontaigne Partners, an integrated terminalling, storage and pipeline partnership, has closed the acquisition of 21 refined petroleum products terminalling facilities from TransMontaigne Inc. for approximately $125 million (85 million).
The terminalling facilities, along the Colonial and Plantation Pipelines (Southeast Terminals), have an active storage capacity of approximately 9 million barrels.
In connection with the acquisition of the Southeast Terminals, the Partnership entered into a terminalling services agreement with Morgan Stanley Capital Group. The terminalling services agreement commenced on 1 January, 2008 and has a seven-year term expiring on 31 December, 2014, subject to a seven year renewal option at the election of Morgan Stanley Capital Group.
The Partnership has also closed an acquisition from Rio Vista Energy Partners L.P. (Rio Vista) of its terminal facility in Matamoros, Mexico, two pipelines from Brownsville, Texas, to Matamoros, Mexico, with associated rights of way and easements and 47 acres of land, together with a permit to distribute LPG to Mexico's state-owned petroleum company.