Colonial Terminals Operating Co. LLC – a subsidiary of Colonial Enterprises Inc. (Colonial) and an affiliate of Colonial Pipeline Co. – has completed the acquisition of three refined product terminals from Lincoln Terminal Co., Inc. (Lincoln), a products and biofuels marketing and logistics company.
The new business will operate under the brand name Colonial Premier Terminals. Two of the terminals acquired, located in Charlotte, North Carolina, US, and Chattanooga, Tennessee, US, are presently connected to the Colonial Pipeline Co. system. The other, located in Fredericksburg, Virginia, US, is connected to Plantation Pipe Line.
“This acquisition provides an excellent opportunity for Colonial to move into the terminal business, offers a complementary service to Colonial Pipeline Co.’s current customers, and lays the groundwork for further strategic expansion,” said Joe Blount, President and CEO of Colonial Enterprises. “Terminals are a natural extension of Colonial’s overall business, providing the opportunity to serve customers in new ways while building and strengthening relationships.”
“The acquisition process has gone smoothly and we expect Colonial will leverage its operations experience and extend it to the terminal business,” said Larry Burgamy, CEO and President of Lincoln. “I am confident that both existing and new customers will continue to receive the same quality of service that they have come to expect from these terminal operations.”
Read the article online at: https://www.tanksterminals.com/terminals/13102020/colonial-premier-terminals-acquires-three-terminals/