American Midstream Partners AMID today announced the
execution of a merger agreement to acquire Blackwater Midstream
Holdings, LLC, a developer and operator of terminal storage facilities
(“Blackwater”), from an affiliate of ArcLight Capital Partners, LLC
(“ArcLight”) for an aggregate purchase price of $60 million, subject to
certain purchase price adjustments. The purchase price is payable in a
combination of cash and approximately $3.0 million of American Midstream
common units, and the aggregate consideration includes the payoff of
existing indebtedness of Blackwater. Blackwater generated annualized
Adjusted EBITDA of approximately $7.7 million based on the quarter ended
September 30, 2013, and the Partnership expects Blackwater's annualized
EBITDA to remain approximately the same in the fourth quarter of 2013
See full press release
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