The acquisition is highly accretive for the Jefferson segment, more than doubling its Adjusted EBITDA with contracted cash flow under a long-term take-or-pay contract from an investment-grade counterparty. Monitor the HSR clearance timeline and monitor the integration of the acquired assets into the Jefferson Bond Bond Borrower LLC structure.
Price Chart
Executive Summary
FTAI Infrastructure Inc. (FIP) announced via an 8-K that its subsidiary, Drub LLC, has entered into a definitive agreement to acquire the Port Arthur Terminal and a 50% interest in the Diluent Recovery Unit from USD Group for an enterprise value of $255 million. The acquisition will be financed by assuming approximately $190 million in existing debt and a new $72 million loan from Barclays, with the acquired assets expected to generate ~$50 million in annual EBITDA. Closing is subject to HSR clearance and other customary conditions, expected in Q4 2026.
Key Financial Metrics
Key Facts
- Enterprise value of $255 million for the acquisition of Port Arthur Terminal and 50% interest in the Diluent Recovery Unit.
- Assumed Debt of approximately $190 million principal balance as of September 27, 2026.
- Barclays Bank PLC committed a $72 million loan to fund the remaining purchase price.
- Acquired assets expected to generate approximately $50 million of annual EBITDA over the next twelve months.
- Transaction expected to more than double Jefferson segment's existing Adjusted EBITDA.
- Long-term take-or-pay contract with an investment-grade counterparty (ConocoPhillips).
- Closing expected during Q4 2026, subject to HSR Act waiting period expiration.
- Buyer termination fee of $15.3 million payable by Buyer under certain termination scenarios.
Financial Impact
Enterprise value of $255 million; ~$190M in assumed debt; $72M new loan from Barclays; ~$50M projected annual EBITDA from acquired assets.
Risk Factors
- Failure to obtain HSR clearance or other regulatory approvals could delay or prevent closing.
- Integration risk and realization of projected EBITDA may fall short.
- Commodity price volatility and customer demand could impact actual results.
- Debt financing conditions may not be satisfied.
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001140361-26-037763 |
| Document: ef20082849_8k.htm | 0001140361-26-037763 |
| Document: ef20082849_ex99-1.htm | 0001140361-26-037763 |
| Document: 0001140361-26-037763-index-headers.html | 0001140361-26-037763 |
| Document: 0001140361-26-037763-index.html | 0001140361-26-037763 |
| Document: 0001140361-26-037763.txt | 0001140361-26-037763 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 23, 2026 4d ago | 8-K | $2.54 | awaiting T+60 | — | $2.65 (+4.33%) |
Oct 13, 2026 13d ago | Press Release | $2.31 | awaiting T+60 | — | $2.65 (+14.72%) |
Sep 28, 2026 29d ago | 8-K | $2.89 | awaiting T+60 | — | $2.65 (−8.30%) |
Sep 28, 2026 29d ago | Press Release | $2.89 | awaiting T+60 | — | $2.65 (−8.30%) |
Jul 2, 2026 16w ago | 8-K | $4.44 $2.89 | ▲ +34.91% | ▲ +38.48% | $2.65 (+40.32%) |
Jun 29, 2026 17w ago | Press Release | $4.36 $3.26 | ▼ −25.23% | ▼ −29.62% | $2.65 (−39.22%) |
May 7, 2026 24w ago | 8-K | $4.86 $3.40 | ▼ −30.04% | ▼ −34.88% | $2.65 (−45.47%) |
Apr 30, 2026 25w ago | 8-K | $6.15 $4.15 | ▼ −32.47% | ▼ −35.57% | $2.65 (−56.88%) |
Apr 30, 2026 25w ago | Press Release | $6.15 $4.15 | ▼ −32.47% | ▼ −35.57% | $2.65 (−56.88%) |
Apr 17, 2026 27w ago | 8-K | $5.80 $4.46 | ▼ −23.10% | ▼ −29.25% | $2.65 (−54.31%) |
US Market Status
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