Tivoli Midstream LLC has announced the completion of its acquisition of strategic terminal and infrastructure assets located in the Gulf Coast of Texas in Brazoria County, known as the “Chocolate Bayou Assets,” from affiliates of Ascend Performance Materials, LLC.
The Chocolate Bayou Assets comprise approximately 3.0 million barrels of storage capacity, open land available for development, and an extensive footprint of logistics assets. Boasting over 100 storage tanks, these assets are versatile, capable of handling a wide range of products including renewables, refined products, specialty chemicals, LPGs, and more. Situated on the Chocolate Bayou, they benefit from exceptional multi-modal connectivity through Union Pacific direct served rail, truck and barge access, as well as a significant pipeline system between Freeport, Texas and Texas City, Texas.
Moreover, the Chocolate Bayou Assets are supported by a long-term partnership with Ascend, with approximately 2.5 million barrels of storage capacity available for third-party customers.
Led by industry veterans with over 70 years of combined experience in midstream and infrastructure organizations globally, Tivoli is backed by funds managed by Intrepid Investment Management, LLC, the investing arm of Intrepid Financial Partners, L.L.C.
Rance Fromme, president of Tivoli, expressed enthusiasm about the acquisition, stating, “With our acquisition of the Chocolate Bayou Assets, we are excited to create a leading Gulf Coast infrastructure hub. We have significant history operating in the Gulf Coast and have long been impressed by the quality, scale, and diversity of the Chocolate Bayou Assets. We look forward to welcoming and providing customized solutions for our customers at our new facility.”
Mike France, head of investment management at Intrepid, shared this sentiment, commenting, “We are excited to add the Chocolate Bayou Assets to our portfolio. 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.”
Tivoli is a growth-oriented midstream, logistics, and services company committed to delivering effective solutions to the oil, gas, and petrochemical industries. With headquarters in Houston, Tivoli aims to be a trusted partner to its customers, prioritizing safety, service, and reliability. With over 70 years of experience serving more than 20 distinct industries and handling over 200 different products, Tivoli is dedicated to making a positive impact on the world and the environment every day.
For more information visit www.tivolimidstream.com
