IMTT to acquire Epic Midstream

International-Matex Tank Terminals (IMTT) is set to acquire Epic Midstream (Epic) from affiliates of White Deer Energy and Blue Water Energy for $171.5m.

Chief Executive Officer of IMTT, Richard Courtney said: “The addition of Epic adds an exciting new dimension to IMTT. Together with a greatly expanded product line – jet fuel – Epic provides us with a presence in the strategically important Port of Savannah, some exciting new customer relationships and an energetic team assembled by terminal industry veteran David Vattimo.”

David said: “IMTT and Epic are a great fit, commercially and culturally. We have put a tremendous amount of effort into improving and leasing the Epic assets over the past several years – we think both the team and the tanks will prove to be a great addition to IMTT.”

Epic operates a portfolio of seven terminals in the U.S. Southeast and Southwest, with principal operations in Savannah, Georgia. The facilities comprise approximately 3.1 million barrels of refined petroleum, asphalt, biofuels and chemical storage capacity. The business is supported by take-or-pay contracts similar to those at IMTT.

Epic terminals will continue to store and handle jet fuel at a number of locations for customers including an affiliate of the U.S. Department of Defense that has been an Epic customer for more than 20 years.

For more information visit www.imtt.com

7th Aug 2017