Deal Snapshot
Adams Resources and Energy Closes Acquisition of Firebird Bulk Carriers, Phoenix Oil
Monday 15 August 2022

A subsidiary of US-based liquid chemicals and dry bulk transport and storage company Adams Resources and Energy, Inc. (NYSE AMERICAN: AE), GulfMark Asset Holdings, Inc., has completed the purchase of Firebird Bulk Carriers, Inc. and Phoenix Oil, Inc. for an aggregate purchase price of approximately USD 33m, the company said.

This consists of approximately USD 32m in cash and USD 0.5m of Adams Resources and Energy, Inc. common stock. Firebird Bulk Carriers is an interstate bulk motor carrier of crude oil, condensate, fuels, oils and other petroleum products. Also headquartered in Humble, Texas, Phoenix Oil recycles and repurposes off-spec fuels, lubricants, crude oil and other chemicals from producers in the United States.

Date Published: 15/08/2022