ArcLight Capital acquires Pyramid (f/k/a PPC)

ArcLight Capital Partners’ newly-formed portfolio company, Penn Products Terminals has acquired Pyramid for an undisclosed amount.

Formerly called Petroleum Products Corporation, Pyramid (f/k/a PPC) is a petroleum pipeline terminals and logistics business.

Headquartered in Middletown, Pennsylvania, US, the company owns and operates a network of 12 high-quality refined products storage terminal facilities in Pennsylvania totalling approximately nine million barrels of storage capacity.

ArcLight managing partner and co-founder Dan Revers said: "We have a long track record of investing in refined products storage and pipeline infrastructure and the acquisition of Pyramid (f/k/a PPC) is the culmination of that experience combined with a concerted effort by ArcLight over the last several years to invest in premiere infrastructure along the last mile of the value chain.

"Pyramid (f/k/a PPC) is led by a highly experienced management team and will serve as a solid platform for follow-on investments in refined product storage and wholesale distribution."

Pyramid (f/k/a PPC) stores gasoline, diesel fuel, heating oil, heating oil kerosene, ethanol and biodiesel and distributes the products to customers in Pennsylvania and six surrounding states.

The terminals are pipeline, barge and rail-connected and supplied from a geographically diverse set of refined product sources including New York, Philadelphia, the Midwest and the Gulf Coast, US.