Sunoco LP (Sunoco) has announced the completion of its acquisition of the fuels business from Emerge Energy Services LP (Emerge) for US$167.7 million, plus working capital adjustments. The fuels business comprises Arlington-based Direct Fuels LLC and Birmingham-based Allied Energy Company LLC, both wholly owned subsidiaries of Emerge, and engages in the processing of transmix and the distribution of refined fuels.
The fuels business includes two transmix processing plants with attached refined product terminals located in the Birmingham, Alabama and greater Dallas, Texas metro areas. Combined, the plants can process over 10 000 bpd of transmix, and the associated terminals have over 800 000 bbls of storage capacity.
This transaction was funded using amounts available under Sunoco's revolving credit facility and is expected to be immediately accretive to Sunoco with respect to distributable cash flow.
Adapted from press release by Francesca Brindle
Read the article online at: https://www.hydrocarbonengineering.com/tanks-terminals/01092016/sunoco-acquires-emerge-energy-services-fuels-business-3996/