Skip to main content

Sprague Resources acquires terminals

Published by , Editorial Assistant
Tanks and Terminals,


Sprague Resources LP (Sprague) has announced that its operating subsidiary, Sprague Operating Resources LLC, has signed a definitive agreement to purchase the Lawrence and Inwood, NY refined product terminal assets of Carbo Industries, Inc. and Carbo Realty, L.L.C. (Carbo). Sprague will pay total consideration of approximately US$70 million, plus payments for inventory and other customary items. The consideration is comprised of approximately US$30 million of SRLP units to be issued at closing, US$10 million in cash paid at closing and the balance in cash, paid ratably over 10 years.

Read the article online at: https://www.tanksterminals.com/storage-tanks/17032017/sprague-resources-acquires-terminals/

You might also like

CST Industries expands global presence

CST Industries, Inc. has announced its acquisition of Ostsee Tank Solutions, building upon the company's growth in the industry and expanding its portfolio.

 
 

Embed article link: (copy the HTML code below):