USD Partners LP acquires Hardisty South terminal and eliminates IDRs for $75M cash + 5.75M units

USD Partners LP

Acquires Hardisty South terminal assets from USD Group for $75M in cash + ~5.75M common units.
Eliminates all IDRs and converts economic GP interest to non-economic, simplifying structure.
Transaction expected to close Q2 2022; post-close USDG holds ~52% of outstanding common units.
Expected double-digit accretion to Distributable Cash Flow per unit in 2023, with estimated $14-18M annual EBITDA contribution.
Funded from $275M credit facility; approved by Conflicts Committee with independent advisors.

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