Campbell Transportation buys NGL Energy Partners marine assetsWritten by Nick Blenkey
Houston, Pennsylvania, based Campbell Transportation Company, Inc. (CTC) has emerged as the buyer of the majority of the marine assets owned by NGL Energy Partners’ NGL Marine LLC subsidiary. As we reported earlier, NGL Energy disclosed March 6 that it had signed two definitive agreements to sell all of its marine assets (13 towboats and 25 tank barges) for $111.65 million in cash in the aggregate.
Campbell Transportation says that the deal is set to close by the end of March and that the acquisition will be another step forward in its strategic plan to diversify its marine business line.
Once the acquisition is completed, CTC will own or operate over 1,250 barges
throughout the inland waterway system, including 95 tank barges. The fleet is comprised
of assets working in both the dry cargo and liquid cargo trades and is supported by the
operation of more than 60 towboats.