November 02, 2022 [Tank Store Mag] – On November 1, 2022, Colonial Terminals, Inc. (CTI), a division of Savannah-based Colonial Group, Inc., acquired two liquid terminals owned and operated by International-Matex Tank Terminals (IMTT). The facilities are located on the Savannah River and have approximately two million barrels of storage capacity supported by marine, rail, and truck access into the fast-growing Southeastern United States.
“Colonial Terminals has experienced tremendous growth over the past five years thanks to the hard work of our team members and commitment from our customers,” said Christian Demere, president and CEO of Colonial Group, Inc. “We are excited to add new employees to the Colonial family, expand our ability to serve our customers and ensure the capacity for continued growth.”
The acquisition increases CTI’s storage infrastructure to more than 6.5 million barrels and adds three berths along with approximately 130 acres of Savannah River frontage. Products stored at these facilities include industrial chemicals, pine chemicals, specialty chemicals, petroleum, base oil, asphalt, and others. CTI plans to retain all local employees who currently operate the facilities.
“Savannah is one of the premier logistical hubs in the country, and we believe in the long-term value of Savannah River terminal infrastructure,” said Ryan Chandler, President of Colonial Terminals, Inc. “Our existing facilities are reaching their natural capacity, and the acquisition of these assets will provide the foundation for continued growth for decades to come.”
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