Magnolia Marine Transport Company (MMT), a wholly owned subsidiary of Ergon Inc., has signed a definitive agreement to purchase a substantial portion of the marine assets of NGL Energy Partners LP. The transaction is expected to close at the end of March 2023, subject to customary closing conditions.
“This acquisition will further Magnolia Marine’s strategic plan to better serve existing and prospective new customers in the inland marine segment,” commented Joel Pastorek, Executive Vice President of Ergon Integrated Services & Logistics.
Founded in 1968, MMT is based in Vicksburg, Mississippi, with satellite operations in Wood River, Illinois. With a fleet of 27 towboats and 102 tank barges, MMT moves a variety of products throughout the Mississippi River system, most western rivers, and the Gulf Intracoastal Canal from Panama City, Florida, to Corpus Christi, Texas.
Ergon is a family-owned organization comprised of a wide array of businesses. Established in Mississippi in 1954, the Ergon family of companies serves customers in more than 90 countries around the world. Business segments include Energy & Specialty Solutions, Pavement & Coating Resources, Exploration & Production, and Integrated Services & Logistics, of which MMT is a part.
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