Zenith Energy Terminals Holdings has acquired the assets of Bulk Terminal Storage (BTS) from Guttman Realty.
BTS’ three storage terminals are located in Ohio, Pennsylvania and West Virginia, and they have an aggregate storage capacity of 560,000 barrels. Zenith said they form a strategic link in the company’s asset footprint.
“This acquisition further develops our existing network of terminals in key U.S. markets and enables us to promote growth in alternative fuels, addressing two of Zenith’s strategic priorities,” said Jeff Armstrong, president and CEO of Zenith. “We are excited about expanding our relationship with Guttman Energy, one of our key customers.”
The transaction will enable Guttman to strengthen and expand its wholesale and commercial fuel distribution business within the mid-Atlantic and East Coast markets.
Financial terms were not disclosed.
