Cronus Partners Pleased to Announce Sale of Oil and Gas Industry Terminal to Kinder Morgan
Cronus Partners LLC (Cronus) is pleased to announce it acted as the exclusive financial advisor to 121 Point Breeze Terminal, LLC (Point Breeze), owner of a refined petroleum products terminal serving the Mid-Atlantic region, in its sale 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.
Shane Campbell, Managing Director at Cronus, added, “It was a pleasure working with the teams at Point Breeze and Kinder Morgan and contributing our M&A experience in the midstream oil and gas industry to executing this transaction. Point Breeze is a regionally well-positioned terminal and should continue to be a competitive asset in the hands of Kinder Morgan.”
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.
Headquartered in Houston, Texas, Kinder Morgan (NYSE:KMI) is the largest midstream and the third largest energy company in North America with an enterprise value of more than $132 billion. The company owns an interest in or operates approximately 80,000 miles of pipelines and 180 terminals.
About Cronus Partners
Advising on mergers, acquisitions, divestitures, sales, and private placement financings, Cronus Partners is an independent investment banking firm that provides financial advisory and other investment banking services. Winner of the New York Association for Corporate Growth’s Boutique Investment Bank of the Year Award, the firm has significant experience in advising both public and private companies that can benefit from middle-market transactions. Cronus serves the oil and gas industry and other industrial- based sectors including environmental services, specialty manufacturing, and business-to-business services.
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