TransMontaigne to Merge with ArcLight

TransMontaigne to Merge with ArcLight

  • TransMontaigne Partners L.P. announced that at the special meeting of the Partnership’s common unitholders, the Partnership’s unitholders voted to approve the previously announced merger of the partnership and an indirect subsidiary of ArcLight Energy Partners Fund VI, L.P.
  • Approximately 97.2% of the Partnership’s common unitholders represented in person or by proxy at the special meeting voted in favor of the Merger Proposal, which represented approximately 62.7% of the partnership’s total outstanding common units as of January 28, 2019, the record date for the special meeting.

TransMontaigne Partners agrees to be acquired by ArcLight Energy Partners for $41/unit in cash, or $536M. The offer represents a 12.6% premium to the $36.40 closing price on Nov. 23. TLP Finance Holdings, LLC, says unitholders will continue to receive regular quarterly distributions of $0.805/unit with respect to any completed quarter prior to the closing of the merger.

TransMontaigne Partners L.P. is a terminalling and transportation company based in Denver, Colorado, with operations in the USA along the Gulf Coast; in the Midwest; in Houston and Brownsville, Texas; along the Mississippi and Ohio Rivers; in the Southeast; and on the West Coast. It provides integrated terminalling, storage, transportation, and related services for customers engaged in the distribution and marketing of light refined petroleum products, heavy refined petroleum products, crude oil, chemicals, fertilizers, and other liquid products.

ArcLight is one of the leading private equity firms focused on energy infrastructure investments. Founded in 2001, the firm helped pioneer an asset-based private equity approach to investing in the dynamic energy sector. ArcLight has invested over $20 billion in over 100 transactions since inception. Based in Boston, the firm’s investment team employs a hands-on value creation strategy that utilizes its in-house technical, operational, and commercial specialists as well as the firm’s 850-person asset management affiliate. More information about ArcLight and a complete list of ArcLight’s portfolio companies can be found at www.arclightcapital.com.

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