Point Breeze Terminal, owner of a refined petroleum products terminal serving the Mid-Atlantic region, has sold its Pennsylvania facility to Kinder Morgan, the largest midstream energy infrastructure company in North America.
‘Having purchased the Point Breeze Terminal from BP in 2005, refurbished it to an operational level, and expanded its customer base, we proudly believe that its sale to Kinder Morgan positions the terminal well for the future. We are happy to have engaged Shane Campbell and the Cronus team for their critical work in bringing the transaction to a successful conclusion,’ commented Sem Logovinsky, owner of Point Breeze.
Located in Pennsylvania, Point Breeze is a refined petroleum products terminal with close to 600,000 barrels of storage capacity and 300 million gallons of throughput capacity. The terminal serves branded and unbranded retail outlets throughout the Mid-Atlantic region.
The announcement was made by Cronus Partners, which acted as the exclusive financial advisor to Point Breeze.