Macquarie Infrastructure Company LLC owns, operates, and invests in a group of infrastructure businesses that provide basic services, such as chilled water for building cooling and gas utility services to businesses and individuals primarily in the U.S. Businesses and Investments The businesses that the company owns and operates include International Matex Tank Terminals (IMTT), a 50% interest in a bulk liquid storage terminal business, which provides bulk liquid storage and handling services at 10 marine terminals in the United States and 2 in Canada; Hawaii Gas, a full-service gas energy company processing and distributing gas products and providing related services in Hawaii; District Energy, a 50.01% controlling interest in a district energy business, which operates among the district cooling systems in the U.S., serving various customers in Chicago, Illinois, and Las Vegas, Nevada; Atlantic Aviation, an airport services business providing products and services, including fuel and aircraft hangaring/parking, to owners and operators of general aviation aircraft in the U.S.; and MIC Solar Energy Holdings. IMTT IMTT stores and handles petroleum products, various chemicals, renewable fuels, and vegetable and animal oils. IMTT is an independent provider of bulk liquid storage terminal services in the U.S., based on capacity. IMTT also owns OMI Environmental Solutions (Oil Mop), an environmental emergency response, industrial services, waste transportation, and disposal business. Oil Mop has a network of facilities along the U.S. Gulf Coast between Houston and New Orleans. These facilities primarily service the Gulf region, and also respond to spill events and provide services as needed throughout the United States and internationally. Its facilities operate 24/7 providing shippers, refiners, manufacturers, traders, and distributors with prompt access to a range of storage services. St. Rose/Gretna/Avondale/Geismar: On the lower Mississippi River, IMTT operates four terminals (St. Rose, Gretna, Avondale, and Geismar). With combined storage capacity of 20.5 million barrels, the 4 sites give IMTT market share in storage for black oil, bulk liquid chemicals, and vegetable oils on the lower Mississippi River. Bayonne, New Jersey: Located on the Kill Van Kull between New Jersey and Staten Island, the 16.0 million barrel capacity terminal occupies a position in New York Harbor (NYH). As an independent bulk liquid storage facility in NYH, IMTT-Bayonne has market share for third-party storage of refined petroleum products and chemicals. IMTT-Bayonne has connections to the Colonial, Buckeye, and Harbor refined petroleum product pipelines, as well as rail and road connections. Customers: IMTT provides bulk liquid storage services primarily to integrated petroleum product producers and refiners, chemical manufacturers, food processors, and traders of bulk liquid petroleum, chemical, and agricultural products. Strategy: The primary components of IMTT’s strategy are to drive growth in revenue and cash flows by attracting and retaining customers who place a premium on flexibility, speed, and efficiency in bulk liquid storage; invest, where prudent, in additional storage capacity; and improve business processes and systems. Competition: The primary terminal operation competitors include Bahamas Oil Refining Company International Limited; Bluenight Energy Partners L.P.; Battleground Oil Specialty Terminal Company LLC; Buckeye Partners, L.P.; Energy Transfer Partners L.P.; Enbridge Energy Partners L.P.; Enterprise Products Partners L.P.; Genesis Energy L.P.; Holly Energy Partners L.P.; Houston Fuel Oil Terminal Company; Kinder Morgan Energy Partners, L.P.; Magellan Midstream Partners, L.P.; NuStar Energy L.P.; Odfjell Group; Oiltanking Partners, L.P.; Plains All American Pipeline, L.P.; Royal Vopak N.V.; Sunoco Logistics Partners L.P.; Tesoro Logistics L.P.; TransMontaigne Partners L.P.; Vitol Holding B.V.; and Westway Group, Inc. Hawaii Gas Hawaii Gas’s market included Hawaii’s approximately 1.4 million residents and approximately 8.0 million visitors in 2012. Hawaii Gas processes and distributes synthet
macquarie infrastructure co
(MIC:New York)
Contact Info
125 West 55th Street
15th Floor
New York, NY 10019
United States
Phone: 212-231-1000
Fax: 212-231-1010
www.macquarie.com/mic
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| MIC:US | $54.36 USD | +0.37 | |
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Industry Analysis
MIC
Industry Average
| Valuation | MIC | Industry Range |
| Price/Earnings | 100.0x |
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| Price/Sales | 2.5x |
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| Price/Book | 3.7x |
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| Price/Cash Flow | 39.0x |
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| TEV/Sales | 1.4x |
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