DALLAS, Texas (December 13, 2012) – TAC Energy, a division of Truman Arnold Companies (TAC) has announced that it is combining its Caddo Mills, TX and North Little Rock, AR terminal operations into a master limited partnership with JP Energy Partners, LP (JP Energy). Terms of this agreement were not disclosed.
Prior to the transaction TAC owned 100% of the Caddo Mills terminal and 100% of the North Little Rock terminal, which was previously co-owned with the shareholders of Coulson Oil Company and branded Arkansas Terminaling and Trading. In place since the 1980s, this has been a “highly valued relationship” said Mike Coulson, Chairman of the Board of Coulson Oil Company. “We have enjoyed our longstanding relationship with TAC and are now equally excited to be tapping into JP Energy’s expertise.”
According to Greg Arnold, President & CEO of TAC, this move will allow the privately owned company to place a greater emphasis on its energy marketing and aviation services business, as TAC continues to expand its national footprint. TAC currently markets refined fuels in 48 states and aviation operations in 14 major markets.
Greg Arnold continued, “TAC partnering with JP Energy is a synergistic move for both companies. The terminals have been solid performers for us and come with a team of associates that are second to none. Adding these operations to JP Energy’s network of midstream assets is a perfect complement to their business model. In addition, TAC Energy’s supply & logistics services to our wholesale customers will be strengthened by utilizing the JP Energy supply chain. It’s a win for both companies and our customers.”
In conjunction with the move, TAC President & CEO Greg Arnold will be appointed to the JP Energy Board of Directors. J. Patrick Barley, President & CEO of JP Energy stated, “The addition of Greg to our board brings us the experience and intellectual capital of one of the leading independent oil marketers in the nation. This combined with TAC’s experience in terminal operations, trading, and supply & logistics will be a tremendous benefit to JP Energy.”
In May, 2012, TAC’s general aviation division, TAC Air, completed its largest acquisition to date by purchasing Keystone Aviation, LLC and rebranding the company’s Salt Lake City (KSLC) and Provo (KPVU) FBOs TAC Air. The TAC Air company also offers aircraft charter, maintenance, management and sales & brokerage services and will remain based at SLC operating under the Keystone Aviation brand.