Colonial Terminals to buy three product terminals from Lincoln Terminal

In Georgia, Colonial Terminals Operating Company LLC – a subsidiary of Colonial Enterprises, Inc. (Colonial) and an affiliate of Colonial Pipeline Company – has entered into an agreement to purchase three refined product terminals from Lincoln Terminal Company, Inc. (Lincoln), a Southeast products and biofuels marketing and logistics company. Two of the terminals, located in Charlotte, NC and Chattanooga, TN, are presently connected to the Colonial Pipeline Company system, and the other is located in Fredericksburg, VA.

This acquisition provides an excellent opportunity for Colonial to move into the terminal business, offering a complimentary service to the markets, including Colonial Pipeline Company’s customers, and lays the groundwork for further strategic expansion. Terminals are a natural extension of Colonial’s overall business, providing the opportunity to serve customers in new ways while building and strengthening relationships.

Over the next few months, Colonial Terminals Operating Company LLC and Lincoln will work toward finalizing and closing the acquisition, which is expected to be completed in approximately 90 days.

Bank of America served as financial advisor to Lincoln on the transaction. No other details of this transaction will be announced prior to closing.