Divestiture • Energy Services and Equipment

Inter Pipeline Acquires Plains All American Pipeline - Milk River Pipeline System

On September 28, 2020, Inter Pipeline acquired energy services and equipment company Plains All American Pipeline - Milk River Pipeline System from Plains All American for 35M USD

Acquisition Context
  • This is Inter Pipeline’s 2nd transaction in the Energy Services and Equipment sector.
  • This is Inter Pipeline’s 2nd largest (disclosed) transaction.
  • This is Inter Pipeline’s 1st transaction in the United States.
  • This is Inter Pipeline’s 1st transaction in Texas.

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M&A Deal Summary

Date September 28, 2020
Target Plains All American Pipeline - Milk River Pipeline System
Sector Energy Services and Equipment
Buyer(s) Inter Pipeline
Sellers(s) Plains All American
Deal Type Divestiture
Deal Value 35M USD

Target Company

Plains All American Pipeline - Milk River Pipeline System

Houston, Texas, United States
Plains All American Pipeline LP's Milk River Pipeline System is a provider of pipeline system for energy industry.
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Buyer Overview 1

Buyer

Inter Pipeline

Calgary, Alberta, Canada

Category Company
Founded 1997
Sector Oil/Gas Exploration
Revenue 2.4B CAD (2020)
DESCRIPTION

Inter Pipeline is a petroleum transportation, storage and natural gas liquids extraction business based in Calgary, Alberta, Canada. Inter Pipeline was founded in 1997 and is based in Calgary, Canada.


Deal Context for Buyer #
Overall 2 of 2
Sector: Energy Services and Equipment 2 of 2
Type: Divestiture 1 of 1
State: Texas 1 of 1
Country: United States 1 of 1
Year: 2020 1 of 1
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-22 Inter Pipeline - European Storage Business

Calgary, Alberta, Canada

Inter Pipeline Ltd. - European Storage Business includes all Inter Pipeline's bulk liquid storage and handling assets in the United Kingdom, Ireland, Netherlands, and Germany totaling 15 storage terminals and approximately 18 million barrels of storage capacity.

Sell $715M

Seller Profile 1

SELLER

Plains All American

Houston, Texas, United States

Category Company
Founded 1998
Sector Energy Services and Equipment
Employees4,200
Revenue 50.1B USD (2024)
DESCRIPTION

Plains All American is a provider of oil pipeline transportation, marketing, and storage business. Plains All American engages in the transportation, storage, terminalling and marketing of crude oil, refined products, and liquefied petroleum gas and other natural gas-related petroleum products. Plains All American was founded in 1998 and is based in Houston, Texas.


Deal Context for Seller #
Overall 1 of 2
Sector: Energy Services and Equipment 1 of 2
Type: Divestiture 1 of 2
State: Texas 1 of 2
Country: United States 1 of 2
Year: 2020 1 of 2
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-21 CVR Energy - Cushing Terminal

Sugar Land, Texas, United States

CVR Energy, Inc. - Cushing Terminal comprises 1.5-million-barrel Cushing, Oklahoma, a crude oil terminal and related assets.

Buy $36M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-15 Plains All American Pipeline - Three Interconnected West Coast Terminals

Houston, Texas, United States

Plains All American Pipeline LP - Three Interconnected West Coast Terminals comprise terminals in Los Angeles County, commonly referred to as the Long Beach, Dominguez Hills, and Alamitos Terminals, in addition to approximately 50 miles of bi-directional pipeline providing interconnection between the terminals as well as direct connectivity to all major refineries in the region.

Sell -