TrailStone, a global commodities logistics and trading
company backed by Riverstone Holdings, announced Monday that
it has acquired US Oil and Refining
The acquisition marks TrailStone's entry into physical crude
oil and refined products markets in North America, and will
serve as the cornerstone of the company's growth strategy in
The financial terms of the transaction were not disclosed.
"We are very excited about the acquisition of these assets,"
said John Redpath, head of oil and agriculture at TrailStone.
"USOR is extremely well-positioned to capitalize on the
rapidly changing dynamics of the North American oil market,
and we look forward to working with Bob Redd and his team to
build a leading liquids supply and trading franchise at
USOR is comprised of a 42,000-bpd refinery
located in Tacoma,
Washington, as well as several rail, pipe, marine and truck
logistics systems in the Pacific Northwest.
- 2.7 million bbl of storage capacity
- A fleet of 630 rail cars
- Multi-year storage and 30,000 bpd throughput agreement
at a rail terminal in the Bakken
- Deepwater terminal with two docks, capable of handling
everything from barges up to 125,000-DWT vessels
- 3 double-hulled barges on long-term charter
- Dedicated proprietary jet fuel pipeline to Joint Base
- State of the art truck loading racks for wholesale
clean product and asphalt sales
In connection with the acquisition, the USOR executive team,
including CEO Robert B. Redd, have joined TrailStone to help
execute the business plan in the coming years.
"TrailStone endeavors to be a leading global asset-backed,
logistics and trading company," said CEO David Silbert. "This
transaction represents a significant advancement to that
Deutsche Bank Securities acted as financial advisor to USOR.