Tivoli Midstream Acquires Strategic Texas Gulf Coast Terminal Assets
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Tivoli Midstream has closed on the acquisition of strategic terminal and infrastructure assets located in the Gulf Coast of Texas in Brazoria County — Chocolate Bayou Assets — from affiliates of Ascend Performance Materials.
The Chocolate Bayou Assets consist of approximately 3.0 million barrels of storage capacity, open land available for development, and an extensive footprint of logistics assets. With more than 100 storage tanks, the Chocolate Bayou Assets can handle a wide variety of renewables, refined products, specialty chemicals, LPGs, and other products.
Strategically located on the Chocolate Bayou, the Chocolate Bayou Assets have exceptional multi-modal connectivity through Union Pacific direct served rail, truck, and barge access, in addition to a significant pipeline system between Freeport, Texas and Texas City, Texas.
The Chocolate Bayou Assets are anchored by a long-term partnership with Ascend, with ~2.5 million barrels of storage capacity available for third-party customers.
“With our acquisition of the Chocolate Bayou Assets, we are excited to create a leading Gulf Coast infrastructure hub,” said Rance Fromme, president of Tivoli.
“We have significant history operating in the Gulf Coast and have long been impressed by the quality, scale, and diversity of the Chocolate Bayou Assets. We look forward to welcoming and providing customized solutions for our customers at our new facility,” added Fromme.
Tivoli is backed by funds managed by Intrepid Investment Management, the investing arm of Intrepid Financial Partners.
“We are excited to add the Chocolate Bayou Assets to our portfolio,” said Mike France, head of Investment Management at Intrepid.
“These are unique assets in a key demand market managed by a world class management team. With their extensive footprint and exceptional connectivity, under the leadership of the Tivoli Team, we believe the Chocolate Bayou Assets will be a world-class, third-party infrastructure facility,” added France.
Tivoli Midstream is a growth-oriented midstream, logistics, and services company, dedicated to making the world and environment better every day. Focused on providing effective solutions to the oil, gas, and petrochemical industries, Tivoli’s primary objective is to be a trusted partner to its customers, exceeding expectations in safety, service, and reliability. Tivoli has more than 70 years of experience, providing service to more than 20 distinct industries and handling more than 200 different products.
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