M&A Deal Summary

Buckeye Partners Acquires Magellan Midstream Partners - Select Marine Terminals

On January 21, 2020, Buckeye Partners acquired energy services and equipment company Magellan Midstream Partners - Select Marine Terminals from Magellan for 250M USD

Acquisition Highlights
  • This is Buckeye Partners’ 2nd transaction in the Energy Services and Equipment sector.
  • This is Buckeye Partners’ 3rd largest (disclosed) transaction.
  • This is Buckeye Partners’ 2nd transaction in the United States.
  • This is Buckeye Partners’ 1st transaction in Oklahoma.

M&A Deal Summary
Date 2020-01-21
Target Magellan Midstream Partners - Select Marine Terminals
Sector Energy Services and Equipment
Buyer(s) Buckeye Partners
Sellers(s) Magellan
Deal Type Divestiture
Deal Value 250M USD

Target

Magellan Midstream Partners - Select Marine Terminals

Tulsa, Oklahoma, United States
Magellan Midstream Partners LP's Select Marine Terminals is a provider of energy services. The terminals are located in New Haven, Connecticut, Wilmington, Delaware and Marrero, Louisiana.

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Buyer(S) 1

Buyer

Buckeye Partners

Houston, Texas, United States
Category Company
Founded 1886
Sector Energy Services and Equipment
Employees1,850
Revenue 4.1B USD (2018)
DESCRIPTION
Entrance to Buckeye Partners' corporate headquarters in Houston, Texas.
Entrance to Buckeye Partners' corporate headquarters in Houston, Texas.

Buckeye Partners owns and operates a diversified network of integrated assets providing midstream logistic solutions, primarily consisting of the transportation, storage and marketing of liquid petroleum products. Buckeye Partners was originally established in 1886 and is based in Houston, Texas.

DEAL STATS #
Overall 4 of 6
Sector (Energy Services and Equipment) 2 of 3
Type (Divestiture) 2 of 2
State (Oklahoma) 1 of 1
Country (United States) 2 of 3
Year (2020) 1 of 1
Size (of disclosed) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-18 Buckeye Partners - Jet Fuel Pipeline and Terminal Assets

United States

Buckeye Partner's Jet Fuel Pipeline and Terminal Assets provides operations and maintenance, asset development and construction services for pipeline and energy assets across the United States.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-07 Swift Current Energy

Boston, Massachusetts, United States

Swift Current Energy is a utility scale renewable energy platform that develops, owns, and operates solar, onshore wind and energy storage projects. Swift Current Energy was founded in 2016 and is based in Boston, Massachusetts.

Buy -

Seller(S) 1

SELLER

Magellan

Tulsa, Oklahoma, United States
Category Company
Founded 2000
Sector Energy Services and Equipment
Revenue 3.2B USD (2022)
DESCRIPTION
Magellan office in Superior, Wisconsin.
Magellan office in Superior, Wisconsin.

Magellan is a partnership that primarily transports, stores, and distributes refined petroleum products and crude oil. It owns a refined petroleum products pipeline system with access to nearly 50% of the nation's refining capacity and can store more than 100 million barrels of petroleum products such as gasoline, diesel fuel, and crude oil. Magellan was founded in 2000 and is based in Tulsa, Oklahoma.

DEAL STATS #
Overall 1 of 1
Sector (Energy Services and Equipment) 1 of 1
Type (Divestiture) 1 of 1
State (Oklahoma) 1 of 1
Country (United States) 1 of 1
Year (2020) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-07-27 Longhorn Pipeline Holdings

Houston, Texas, United States

Longhorn Pipeline Holdings LLC is an owns a 764-mile pipeline designed to transport refined petroleum products from the U.S. Gulf Coast refineries to terminals in Odessa and El Paso, Texas.

Buy -
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