logo
Intelligence
Tracking
Tools
logo
Intelligence
Tracking
Tools

Global Partners LP completes acquisition of four liquid energy terminals from Gulf Oil Limited Partnership to expand its market presence in the Northeast

Apr 09, 2024over 1 year ago

Acquiring Company

Global Partners

Acquired Company

Gulf Oil Company

WalthamFraminghamRenewable EnergyOil And GasEnergyOil And Gas

Description

Global Partners LP (NYSE: GLP) has successfully acquired four liquid energy terminals from Gulf Oil Limited Partnership. These strategically located terminals in Chelsea, MA, New Haven, CT, Linden, NJ, and Woodbury, NJ, with a combined shell capacity of approximately 3.0 million barrels, will enhance Global’s position in the energy economy of the Northeast. This acquisition aligns with Global’s strategy to leverage scale from its integrated network in high-demand markets, further delivering on their commitment to strategic growth.

Company Information

Company

Global Partners

Location

Waltham, Massachusetts, United States

About

The East Providence terminal is a strategic storage facility for various energy products, boasting 10 product tanks with a 959,730-barrel shell capacity. It includes a six-bay truck rack servicing the Rhode Island, Northern Connecticut, and Southern Massachusetts markets, as well as a large dock with capabilities to accommodate long-range vessels.

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed