Oklahoma City-based Blueknight Energy Partners, L.P. announced it’s buying nine asphalt terminals for nearly $109 million from Ergon, Inc., a company based in Jackson, Mississippi. In turn, Ergon is acquiring Blueknight’s general partner.
Ergon was established in 1954 and is involved in asphalt, crude oil and refined products. The nine terminals are located in Wolcott, Kansas; Ennis, Texas; Chandler, Arizona; Mt. Pleasant, Texas; Pleasanton, Texas; Birmingport, Alabama; Memphis, Tennessee; Nashville, Tennessee; and Yellow Creek, Mississippi.
Blueknight says once the transactions are closed, it will own a network of 54 asphalt terminals in 26 states with a capacity of 10.2 million barrels of asphalt and residual fuel oil storage.
Both companies anticipate the closing to be made by September 30.