Watco Purchases Bulk Terminals from Kinder Morgan, Expands Operations Across Nation

Watco Companies announced last week that it has agreed to purchase 20 bulk terminal operations from Kinder Morgan, expanding Watco’s operations to now 73 locations.

Watco purchased terminals from Kinder Morgan back in 2015 and experienced great success through the deal, incentivizing the company to purchase more of Kinder Morgan’s non-core assets.

Kinder Morgan said the the deal allows it to monetize these non-core assets that make up less than 2% of the segment’s earnings while giving the employees at the terminals an opportunity to work on assets that are core to Watco’s business.

Source:
Midstream Business