Simpson Thacher advised IMTT in the sale of its bulk liquids storage terminal located in Gretna, Louisiana to BWC Terminals LLC. The Gretna terminal is located on the Mississippi River and has approximately 2.3 million barrels of storage capacity, with truck, rail, and deep-water marine access.
Founded in 1939 and headquartered in New Orleans, Louisiana, IMTT is an industry leader in the handling and storage of bulk liquid products—particularly energy transition fuels, feedstocks and petrochemicals. IMTT will continue to own and operate its 16 other terminals across North America, including its three Louisiana terminals located along the Mississippi River in Avondale, Geismar, and St. Rose, which generate nearly 70% of its revenue from the handling of non-petroleum products.
The Simpson Thacher team included Chris Bennett, Seth Rosenberg, Ian Simrod, Sherry Shen and Jake Massel (M&A); Russell Light and Andrew Mandelbaum (Tax); Chris Brown (Banking and Finance); Ryan Bekkerus and Noah DeBlasi (Capital Markets); Peter Guryan, Max Fischer-Zernin, James Goldfeier, Kelly Karapetyan and Richard Jamgochian (Antitrust); Larry Moss, Harry Hudesman and Matias Botto (Executive Compensation and Benefits); Abram Ellis and Claire Cahoon (Regulatory); and Bobbie Burrows (Intellectual Property).