Connecticut-based Alinda Capital Partners has announced that investment funds managed by Alinda have acquired 100% ownership of Houston Fuel Oil Terminal Company (HFOTCO) from AL Gulf Coast Terminals, an investment affiliate controlled by ArcLight Capital Partners (ArcLight). Terms of the transaction were not released.
HFOTCO is a leading marine terminal for storage of residual fuel oil and crude oil. The company owns and operates a world-class, 13.8 million barrels storage terminal, and is the largest provider of residual fuel oil storage in the US Gulf Coast.
HFOTCO’s assets are strategically located on a 312-acre footprint at the widest point of the Houston Ship Channel, one of the largest trading centres for residual fuel oil and crude oil in the world.
The company stores, blends, and transports residual and crude oil via pipeline, barge, rail, truck and ship for major oil companies, refiners, carbon black manufacturers, international trading firms and bunker suppliers.