OPIS first reported about the terminal sale negotiation between Sprague and Motiva in June. Last week, fuel marketers in Connecticut told OPIS the deal would be closed by the end of July, and Sprague had offered to retain all employees at the terminal.

Located on the Long Island Sound, the Bridgeport terminal has approximately 1.1 million bbl of active storage capacity for a range of products including gasoline, heating oil, ultra-low sulfur diesel and ethanol.

The facility also includes a dock for convenient and direct tanker offloading and extensive bio-blending capabilities.

The Bridgeport terminal acquisition will expand Sprague’s presence in the Southern Connecticut and Westchester County areas.

Bridgeport will complement Sprague’s Mt. Vernon, N.Y., and Stamford, Conn., terminals, providing customers with an additional location.

“The Bridgeport terminal will bring Sprague’s total on-line storage capacity to approximately 9.1 million barrels across 15 facilities,” said David Glendon, President and CEO of Sprague.

“While some current Sprague customers lift at Bridgeport, this is also a chance to expand our customer base with additional regional players,” he said.

Founded in 1870, Sprague is an independent supplier of energy products and related services in the Northeast.

Sprague has been providing its retail, commercial, industrial, utility and wholesale customers with natural gas since 1994, selling more than approximately 50 billion cubic feet of natural gas annually. Sprague headquarters is located in Portsmouth, N.H.

Meanwhile, the Bridgeport terminal is the third terminal sold by Motiva on the East Coast.

OPIS reported in 2011 that Motiva had offered three terminals on the East Coast, including a Brooklyn terminal and one in Springfield, Va. The Springfield terminal was sold to Kinder Morgan late 2011, and the Brooklyn terminal was sold to Arc Terminals LP in March 2013.