Martin Midstream Partners draws on revolver to fund Talen's purchase

By Ashley Montgomery

Kansas City, Kan., Jan. 3 - Martin Midstream Partners LP borrowed from its revolving credit facility to fund the acquisition of all outstanding membership interests in Talen's Marine & Fuel, LLC, according to a news release.

The acquisition was effective Dec. 31.

At the same time, the company sold certain working capital-related assets to Martin Energy Services LLC.

Martin Midstream's net investment in the acquisition, including the sale of assets, is $47.4 million.

Martin Midstream is a Kilgore, Texas-based company that collects, transports, stores and markets petroleum products and byproducts.

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