ArcLight Capital Partners LLC’s new portfolio company Penn Products Terminals acquired Pyramid LLC, formerly Petroleum Products Corp., ArcLight said April 14.
Pyramid is a petroleum pipeline terminals and logistics business. It owns and operates a network of 12 high-quality refined products storage terminal facilities in Pennsylvania. They store about 9 million barrels of gasoline, diesel fuel, heating oil, heating oil kerosene, ethanol and biodiesel.
Pyramid distributes these products to Pennsylvania and six surrounding states. The terminals are pipeline-, barge- and rail-connected and supplied from sources in New York, Philadelphia, the Midwest and Gulf Coast.
Dan Revers, managing partner and co-founder of Boston-based ArcLight, said the firm has a long track record of investing in refined products storage and pipeline infrastructure.
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