Northern Tier Energy

Northern Tier Energy LP
Public
Traded as NYSE: NTI
Industry Oil and gas
Fate merged/dissolved with Western Refining
Founded 2010
Headquarters Tempe, Arizona
Key people
 David L. Lamp, President and CEO
Products Gasoline and other petrochemicals
Revenue Increase US$ 5.56 billion (2014)[1]
Increase US$ 0275.3 million (2014)[1]
Increase US$ 0241.6 million (2014)[1]
Total assets Increase US$ 1.180 billion (2014)[1]
Number of employees
 2,950 (Dec 2014)[1]
Website www.ntenergy.com

Northern Tier Energy LP was an American downstream energy limited partnership. In addition to owning the SuperAmerica gas station and convenience store chain, it also owned an oil refinery in St. Paul Park, Minnesota and an interest in a pipeline.[1] In 2014 it ranked 525 on the Fortune 1000.[2]

History

The company was created in 2010 when TPG Capital and Acon Investments acquired $554 million worth of assets from Marathon.[3] Western Refining acquired a controlling interest in the company in 2013 for $775 million.[4] By 2015, Western's ownership stake was 38% and it proposed in October to acquire the remainder of the company;[5] it decided to dissolve Northern Tier early by buying all the shares and pay $860 million to close the deal on June 23, 2016. [6]

References

  1. 1 2 3 4 5 6 "Form 10-K for Northern Tier Energy LP". Securities and Exchange Commission. 27 February 2015. Retrieved 25 May 2015.
  2. ↑ "Northern Tier Energy LP". Fortune. Retrieved 26 May 2015.
  3. ↑ Stych, Ed. (16 July 2012). "SuperAmerica owner Northern Tier hopes to raise $341 million in IPO". bizjournals.com. Retrieved 26 May 2015.
  4. ↑ Kolenc, Vic (13 November 2013). "Western Refining pays $775 million for control of oil refiner Northern Tier Energy". El Paso Times.
  5. ↑ Veotoro LLC (7 January 2016). "Northern Tier Energy And Western Refining Merger Headed For A Train Wreck?". Seeking Alpha. Retrieved 9 January 2016.
  6. ↑ Alpha Hr Group (29 June 2016). "Western Refining and Northern Tier Announce Proration Results in Connection With Merger". Retrieved 14 July 2016.


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