The Texas firm bought the local assets and 17 other terminals nationwide for $1 billion in cash and $150 million in debt from Chicago-based GATX Corp. Neither party broke out the value of the Orlando area asset.
The local terminal and pipeline would carry an estimated $6.39 million tag, based on the total sale price of $1.15 billion for 18 terminal locations. GATX has owned the Orlando area asset since 1971. The plant has a staff of 50.
In a prepared statement, GATX says the sale follows the company's decision last year to get out of the supply business and concentrate on its core rail and finance operations. For Kinder, the deal is right because the company is a major national fuel supplier.
The deal also includes terminals in Houston, Los Angeles, San Francisco, Seattle, New York, Chicago, Philadelphia, and Portland, OR.
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