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New Deal


Announced

Completed

Midstream Energy Partners completed the acquisition of the Casper rail terminal from USD Partners for $33m.

Financials

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Transaction Value£26m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Majority

Private

Acquisition

United States

railcars

Completed

Single Bidder

Railroad Equipment

Friendly

Cross Border

Infrastructure

Synopsis

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Midstream Energy Partners, a privately held Natural Gas Liquids focused business, completed the acquisition of the Casper rail terminal from USD Partners, a midstream infrastructure and complementary logistics solutions provider, for $33m. “As we continue to transition our business to lower carbon solutions, including our DRUbit™ by Rail™ network, we are reviewing all assets and their strategic fit in our growth plans. As we mentioned on our Q4 2022 earnings call, we remain committed to converting all of our dilbit capacity to our long-term sustainable DRUbit™ program at the Partnership’s Hardisty Terminal, which is supported by investment grade counterparties and ten year, take-or-pay contracts,” Dan Borgen, the USD Partners Chief Executive Officer.

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