Martin Midstream Partners L.P. acquired lubricants distributor Talens Marine and Fuel for $47.4 million.
Martin purchased Jennings, La.-based Talens membership interests from various subsidiaries of Quintana Energy Partners, L.P. The acquisition adds 10 marine terminal locations between Houston and Galveston in Texas, and Port Fourchon, La., with total tankage of 300,000 barrels.
We expect stable and growing throughput throughout our entire marine terminal system, as current forecasts show favorable activity in the Gulf of Mexico, said Ruben Martin, president and CEO of Martin Midstream Partners. The acquisition gives Martin Midstream Partners a leading market position of fueling and lubricant terminals along the Gulf Coast.
Martin Resource Management owns Kilgore, Texas-based Martin Midstream. Subsidiary Martin Energy Services markets and distributes marine fuel and lubricants along the U.S. Gulf Coast, using assets of the partnerships shore-based marine terminals. According to its web site, Martin Energy distributes major brands of lubricants for industrial, commercial, marine and consumer applications. It also offers a full line of synthetic lubricants and specialty products.
Talens Marine and Fuel distributes several lubricants brands, including Valvoline, Shell, Chevron, ExxonMobil and Sealub Alliance. According to its web site, product offerings include engine oil, transmission fluid, industrial oil, grease and metalworking fluids, among others.