Northern Tier Energy
| Company type | Public |
|---|---|
| NYSE: NTI | |
| Industry | Oil and gas |
| Founded | 2010 |
| Fate | merged/dissolved with Western Refining, which is now part of andeavor |
| Headquarters | Tempe, Arizona |
Key people | David L. Lamp, President and CEO |
| Products | Gasoline and other petrochemicals |
| Revenue |  US$ 5.56 billion (2014)[1] |
| US$ 275.3 million (2014)[1] | |
| US$ 241.6 million (2014)[1] | |
| Total assets | US$ 1.180 billion (2014)[1] |
Number of employees | 2,950 (Dec 2014)[1] |
| Subsidiaries | SuperAmerica |
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
[edit]The company was created in 2010 when Acon Investments and TPG Capital 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
[edit]- ^ a b c d e f "Form 10-K for Northern Tier Energy LP". Securities and Exchange Commission. 27 February 2015. Archived from the original on 2017-05-22. Retrieved 25 May 2015.
- ^ "Northern Tier Energy LP". Fortune. Retrieved 26 May 2015.
- ^ Stych, Ed. (16 July 2012). "SuperAmerica owner Northern Tier hopes to raise $341 million in IPO". bizjournals.com. Archived from the original on 2018-07-11. Retrieved 26 May 2015.
- ^ Kolenc, Vic (13 November 2013). "Western Refining pays $775 million for control of oil refiner Northern Tier Energy". El Paso Times.
- ^ Veotoro LLC (7 January 2016). "Northern Tier Energy And Western Refining Merger Headed For A Train Wreck?". Seeking Alpha. Retrieved 9 January 2016.
- ^ 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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