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Blackwater Maryland to acquire storage terminal facility

In a recent announcement, Blackwater Maryland L.L.C. said that it has finalized it plans to acquire a storage terminal facility located in Salisbury, Maryland and expects to close the deal by the end of December. The purchase, which was financed completely by the senior lender for Blackwater Maryland's parent company, Blackwater Midstream Corp, will cost about $1.6 million.

While this marks the company's first such deal in Maryland, Blackwater has made similar Business acquisitions in two other states. Blackwater plans to expand the capabilities of the terminal by building an additional 100,000 barrels of storage capacity at the location, a similar strategy it has undertaken with its previous acquisitions. The facility currently holds approximately 177,000 Blackwater's CFO explained, "Our primary focus is to ensure that our customer's requirements are met by providing our outstanding customer service that ultimately supports their business plan." The site currently only stores petroleum, but the CFO said that Blackwater is currently discussing opportunities with new clients to store other products at the facility.

Blackwater says the planned acquisition is the latest move in its strategy to purchase and use "underutilized terminal assets." The CFO elaborated, saying that the newly-purchased Maryland facility will serve as important part of the area's petroleum supply chain and is be instrumental in meeting demand for petroleum.

Blackwater Midstream Corp, with subsidiary Blackwater Maryland LLC, is an operator of bulk liquid storage terminals in several U.S. states. It currently owns two sites, which allow for petroleum and other products to be directly transported by truck, ship or train. Blackwater is a member of the International Liquid Terminal Association.

Source: MarketWatch, "Blackwater Maryland, L.L.C. Announces Acquisition of Salisbury Marland Terminal Facility," Dec. 23, 2011

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