DENVER–(BUSINESS WIRE)–TransMontaigne Partners LLC today announced two of its wholly owned subsidiaries have entered into separate agreements for the sale of terminal facilities on Fisher Island, Miami and in Fairfax, Virginia.
The Fisher Island terminal has active capacity of approximately 700,000 barrels for the storage of marine fuels. The purchase price is approximately $180 million. The closing of the sale is expected to occur on or about May 15, 2025, subject to customary closing conditions. Following the closing, TransMontaigne will lease the terminal from the buyer to allow it to continue servicing its current customer agreements.
The Fairfax terminal has active capacity of approximately 500,000 barrels for the storage of gasoline, diesel, ethanol, and fuel additives. The purchase price is approximately $30.75 million. The closing of the sale is expected to occur on or about June 30, 2026, subject to certain rights for TransMontaigne to extend the closing date. The closing is subject to customary closing conditions.
Proceeds from the terminal sales will be used for repayment of certain term debt obligations.
“These terminal sales reflect the intrinsic value of TransMontaigne’s assets,” said Randy Maffett, Chief Executive Officer of TransMontaigne. “The transactions will allow us to continue to focus on strategic growth to support our customer demand and facilitate energy transition related projects.”
About TransMontaigne
TransMontaigne Partners LLC is an integrated terminaling, storage, transportation and related services company based in Denver, Colorado with operations in the United States along the Gulf Coast, in the Midwest, in Houston and Brownsville, Texas, along the Mississippi and Ohio rivers, in the Southeast, in the Pacific Northwest and along the West Coast. TransMontaigne provides integrated terminaling, storage, transportation and related services for customers engaged in the distribution and marketing of bulk liquids. News and additional information about TransMontaigne Partners LLC is available at www.transmontaignepartners.com.