Tivoli Midstream acquires strategic assets in Texas to expand Gulf Coast operations
Tivoli Midstream LLC has completed the acquisition of significant terminal and infrastructure assets, known as the Chocolate Bayou Assets, from affiliates of Ascend Performance Materials, LLC. Located in Brazoria County along the Gulf Coast of Texas, this strategic move significantly bolsters Tivoli’s operational capacity in the region.
The Chocolate Bayou Assets encompass approximately 3.0 million barrels of storage capacity and feature over 100 storage tanks. These facilities are capable of handling a diverse range of products including renewables, refined products, specialty chemicals, LPGs, and others. Strategically positioned on the Chocolate Bayou, the assets benefit from exceptional multi-modal connectivity, including direct access to Union Pacific rail, truck and barge routes, and a substantial pipeline system connecting Freeport, Texas, to Texas City, Texas.
With approximately 2.5 million barrels of the total storage capacity available for third-party customers, these assets are anchored by a long-term partnership with Ascend. This arrangement underscores the strategic importance of the facilities, which are set to serve as a leading Gulf Coast infrastructure hub. “With our acquisition of the Chocolate Bayou Assets, we are excited to create a leading Gulf Coast infrastructure hub,” stated Rance Fromme, President of Tivoli. He emphasized the quality, scale, and diversity of the assets and the company’s commitment to providing customized solutions for their customers.
The acquisition is backed by funds managed by Intrepid Investment Management, LLC, the investing arm of Intrepid Financial Partners, L.L.C.. Mike France, Head of Investment Management at Intrepid, highlighted the uniqueness of the assets and their location in a key demand market. “These are unique assets in a key demand market managed by a world-class management team. With their extensive footprint and exceptional connectivity, under the leadership of the Tivoli Team, we believe the Chocolate Bayou Assets will be a world-class, third-party infrastructure facility,” France remarked.
This acquisition represents a significant enhancement to Tivoli’s infrastructure capabilities in the Gulf Coast, positioning the company to capitalize on the growing demand for diverse storage and logistics solutions in the region. The strategic location and the scale of the Chocolate Bayou Assets will likely provide Tivoli with a competitive edge in the market, enhancing its ability to support a broad range of industries and increase its market presence.