- Mergers & Acquisitions
Ergon acquires largest U.S. independent asphalt terminal network
Ergon Asphalt & Emulsions Inc. has completed its acquisition of Blueknight Energy Partners, L.P. (BKEP), which takes BKEP from a publicly traded company to a private company solely owned by Ergon. Ergon purchased the general partner interest and approximately 26% of the limited partner units of BKEP in 2016. As of August 17, 2022, Ergon has acquired all the outstanding common and preferred units of Blueknight Energy Partners, L.P.
Ergon, based in Jackson, Mississippi, U.S.A., is a group of privately held companies that operate under six primary business segments: Refining & Marketing, Specialty Chemicals, Asphalt & Emulsions, Oil & Gas, Midstream & Logistics, and Construction & Real Estate.
Ergon Asphalt & Emulsions Inc., the largest asphalt emulsions marketer in North America, has facilities from coast to coast in the U.S. and Mexico.
Blueknight, based in Tulsa, Oklahoma, U.S.A., is a publicly traded master limited partnership with the largest independent asphalt terminalling network in the United States, focused on serving infrastructure and road construction industries. Blueknight operations include nine million barrels of liquid asphalt storage capacity across 54 terminals in 26 states.
“The acquisition of the largest independent asphalt terminaling network in the country further strengthens Ergon’s long-standing position as the industry’s resource leader. The Blueknight assets remain a key component of our overall strategy and growth plan,” said Baxter Burns, president of Ergon.
BKEP facilities will continue with business as usual under the new structure. “We are excited to welcome Blueknight operations personnel into the Ergon family and look forward to continuing our quest to provide customers with the highest quality products and services,” Burns said.