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New Deal


Announced

Completed

Hartree Partners completed the acquisition of Third Coast Midstream's crude oil storage business.

Financials

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Transaction Value-
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Private

Single Bidder

Domestic

United States

Majority

Friendly

Completed

Acquisition

crude oil storage

Oil: Crude Producers

Private Equity

Synopsis

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Hartree Partners, a global merchant commodities firm, through its subsidiary HCS Holdings, completed the acquisition of the crude oil storage business from Third Coast Midstream, a full-service midstream company. Financial terms were not disclosed. "Third Coast Midstream is pleased to announce the sale of AMID Crude Oil Storage to Hartree. We are confident that Hartree is well-positioned to further optimize these storage assets as Third Coast Midstream continues to execute on its plans to divest non-core assets and focus on its core Gulf of Mexico midstream business," Matt Rowland, Third Coast Midstream President and Chief Executive Officer.

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