Brookfield Infrastructure Partners to acquire Colonial Enterprises for EV $9B

Brookfield Infrastructure Partners (BIP) L.P. and its institutional partners reached a definitive agreement to acquire 100% of the world-class midstream asset portfolio Colonial Enterprises, which includes the Colonial Pipeline, for an enterprise value of approximately $9B or 9x EBITDA. Colonial is comprised of the largest refined products system in the U.S., spanning approximately 5,500 miles between Texas and New York. The business has a multi-decade track record of strong performance and high utilization serving a high-quality customer base along the U.S. East Coast. At closing, BIP’s equity investment is expected to be $500M, which represents approximately 15% of the total equity investment, funded entirely by proceeds from recently announced capital recycling initiatives. The transaction is expected to close in the second half of 2025, subject to customary closing conditions.