DALLAS--(BUSINESS WIRE)--JP Energy Partners LP (JP Energy) and TAC Energy, a division of Truman Arnold Companies (TAC) have announced that TAC is contributing its Caddo Mills, TX and North Little Rock, AR terminal operations to JP Energy. Terms of this agreement were not disclosed.
“We have enjoyed our longstanding relationship with TAC and are now equally excited to be tapping into JP Energy’s expertise.”
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.”
About Truman Arnold Companies
Truman Arnold Companies (TAC) is a Dallas Texas-based company founded by Truman Arnold in 1964 as a branded petroleum jobber. Today, TAC is a leading petroleum marketing company, offering customers a variety of services through its refined petroleum products marketing, trading and aviation Fixed Base Operations (FBO) facilities. The private company and its subsidiaries has more than 700 associates with fuel volume exceeding 2 billion gallons annually and is ranked as one of the top private companies in the United States by Forbes magazine. To learn more about Truman Arnold Companies, log on to www.trumanarnoldcompanies.com.
About JP Energy Partners, LP
JP Energy Partners was formed in 2010 to focus on developing a platform of assets to provide integrated refinery services. JP Energy currently owns these assets through its subsidiaries Pinnacle Propane, JP Crude Oil Services and JP Refined Products. The ownership and management team of JP Energy bring extensive experience and a history of success in the energy business. Additional information about JP Energy can be found at www.jpenergypartners.com.