Partners Group, the global private markets investment manager, has provided a debt investment to US-based midstream terminaling and storage company TransMontaigne Partners L.P. (“TLP” or “the Company”) on behalf of its clients. The transaction supports the USD 536 million take-private acquisition of TLP by funds managed and/or advised by energy infrastructure investment manager ArcLight Capital Partners.
Founded in 2005 in Florida, TLP has built a strategic network of 51 midstream terminals and distribution assets spanning six key geographic locations. The Company has expanded its total storage capacity from approximately 5.5 million barrels in 2005 to more than 38 million barrels today. Its terminals and pipelines provide essential storage and transportation services to its customers, who are distributors and marketers for a wide array of petroleum products, including crude oil, chemicals, fertilizers and other liquid products.
Scott Essex, Partner and Head of Private Debt Americas at Partners Group, comments: “We are pleased to partner with ArcLight Capital Partners to provide financing as part of its acquisition of TLP. TLP’s impressive growth has demonstrated the strength of its business model, which is supported by a high-quality customer base with long-term contracts and led by a management team with a track record of creating value.”
Todd Bright, Partner and Head of Private Infrastructure Americas at Partners Group, adds: “This transaction demonstrates our ability to provide a flexible financing solution to energy and infrastructure companies through a collaborative investment led by both our private infrastructure and private debt teams. We anticipate further cross-team collaboration in the future to meet the evolving needs of the infrastructure sector across the capital structure.”