BOSTON, Sept. 14, 2017 /PRNewswire/ -- ArcLight
Capital Partners announced today that one of its affiliates has
acquired a 30% interest in the entity that owns the Olympic
Pipeline from ARCO Midcon LLC, an affiliate of BP Pipelines
(North America) Inc. The
Olympic Pipeline is a regulated interstate refined products
pipeline system that spans approximately 400 miles across the
states of Washington and
Oregon. BP Pipelines (North
America) Inc. will continue to operate the pipeline under a
multi-year operating agreement. This transaction follows an
earlier agreement between ArcLight and BP to enter into a joint
venture across two large-scale refined product terminals that are
interconnected to the Olympic Pipeline.
In connection with the transaction, ArcLight has granted
TransMontaigne Partners LP (NYSE: TLP), also an ArcLight affiliate,
a right of first offer to purchase ArcLight's interest in the
entity that owns the Olympic Pipeline.
ArcLight is one of the leading private equity firms focused on
energy infrastructure investments. Founded in 2001, the firm helped
pioneer an asset-based private equity approach to investing in the
dynamic energy sector. ArcLight has invested approximately
$19 billion in over 100 transactions
since inception. Based in Boston,
the firm's investment team employs a hands-on value creation
strategy that utilizes its in-house technical, operational, and
commercial specialists as well as the firm's 750-person asset
management affiliate. More information about ArcLight, and a
complete list of ArcLight's portfolio companies, can be found at
www.arclightcapital.com.
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SOURCE ArcLight Capital Partners