Private company

TransMontaigne Partners LLC

American pipe lines, incorporated in Delaware1

In its 2026 annual report the company says: “We are a terminaling and transportation company with assets and operations in the United States along the Gulf Coast, in the Midwest, in Houston and Brownsville, Texas, along the Mississippi and Ohio Rivers, in the Southeast and along the West Coast. We provide integrated terminaling, storage, transportation and related services for companies engaged in the distribution and marketing of light refined petroleum products, heavy refined petroleum products, renewable products, crude oil, chemicals, fertilizers and other liquid products.”79 It is headquartered in Denver, Colorado.1

Last updated Oct 20, 2026.

Overview

  • IndustryPipe Lines (No Natural Gas)1
  • HeadquartersDenver, Colorado1
  • Incorporated inDE2
  • Business address1670 Broadway, Suite 3100, Denver, Co 802022
  • Filer categoryNon-accelerated filer2

See how the biggest companies compare on our leaderboards

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

30.7%Gross margin4
41.1%Operating margin4
19.8%Net margin4
-8.1%Revenue growth, 20254

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue47¢$303.8M
  • Other costs33¢$214.1M
  • Profit20¢$128.1M

Out of $646.0M in revenue.4

Where each dollar of operating cash went, fiscal 2025

  • Kept or used elsewhere100¢$54.8M

Out of $54.8M of cash from operations.4

Financial statements

Revenue56784$646.0M in 2025+22% since 2019
0$200.0M$400.0M$600.0M$800.0M2019: $529.5M$529.5M20192020: $477.7M$477.7M2020−10%2021: $520.7M$520.7M2021+9%2022: $666.4M$666.4M2022+28%2023: $653.1M$653.1M2023−2%2024: $702.7M$702.7M2024+8%2025: $646.0M$646.0M2025−8%
Gross profit56784$198.4M in 2025+9% since 2019
0$100.0M$200.0M$300.0M2019: $182.8M$182.8M20192020: $197.9M$197.9M2020+8%2021: $191.2M$191.2M2021−3%2022: $200.5M$200.5M2022+5%2023: $207.9M$207.9M2023+4%2024: $213.2M$213.2M2024+3%2025: $198.4M$198.4M2025−7%
Operating income56784$265.3M in 2025+162% since 2019
0$100.0M$200.0M$300.0M2019: $101.1M$101.1M20192020: $110.6M$110.6M2020+9%2021: $91.6M$91.6M2021−17%2022: $101.0M$101.0M2022+10%2023: $107.1M$107.1M2023+6%2024: $110.5M$110.5M2024+3%2025: $265.3M$265.3M2025+140%
Net income56784$128.1M in 2025+189% since 2019
0$50.0M$100.0M$150.0M2019: $44.3M$44.3M20192020: $60.9M$60.9M2020+37%2021: $38.3M$38.3M2021−37%2022: $41.9M$41.9M2022+9%2023: $2.9M$2.9M2023−93%2024: $10.1M$10.1M2024+242%2025: $128.1M$128.1M2025+1171%
Fiscal year2019202020212022202320242025
Revenue$529.5M5$477.7M6$520.7M7$666.4M8$653.1M4$702.7M4$646.0M4
Cost of revenue$238.6M5$171.7M6$218.4M7$347.3M8$320.5M4$356.2M4$303.8M4
Gross profit$182.8M5$197.9M6$191.2M7$200.5M8$207.9M4$213.2M4$198.4M4
Operating expenses$444.8M7$576.6M8$556.1M4$602.2M4$560.2M4
Operating income$101.1M5$110.6M6$91.6M7$101.0M8$107.1M4$110.5M4$265.3M4
Interest
Net income$44.3M5$60.9M6$38.3M7$41.9M8$2.9M4$10.1M4$128.1M4

Compare TransMontaigne Partners LLC with another company

Corporate structure

TransMontaigne Partners LLC sits at the top of its group. 2 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

  • TransMontaigne Partners LLC Denver, Colorado
    • 100% Subsidiary · Delaware, United States

Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What TransMontaigne Partners LLC reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$1.6B4 Dec 31, 2025$1.6B4 Dec 31, 2024+2.6%
Accumulated depreciation$831.2M4 Dec 31, 2025$772.3M4 Dec 31, 2024+7.6%
Property and equipment, net$791.1M4 Dec 31, 2025$808.3M4 Dec 31, 2024−2.1%
Operating-lease assets (leased space)$66.5M4 Dec 31, 2025$48.0M4 Dec 31, 2024+38.6%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$12.5M4 Dec 31, 2025$8.2M4 Dec 31, 2024+52.5%
Stakes in other companies (equity method)$307.6M4 Dec 31, 2025$317.4M4 Dec 31, 2024−3.1%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$18.6M4 Dec 31, 2025$18.6M4 Dec 31, 20240%
Accumulated amortization$27.7M4 Dec 31, 2025$24.5M4 Dec 31, 2024+13.0%
Finite-lived intangibles, net$37.8M4 Dec 31, 2025$41.0M4 Dec 31, 2024−7.8%

Inventory

ItemLatestA year beforeChange
Inventory, total$8.0M4 Dec 31, 2025$9.9M4 Dec 31, 2024−18.8%
Supplies$2.1M4 Dec 31, 2025$2.2M4 Dec 31, 2024−4.1%

Leadership

Who has led TransMontaigne Partners LLC, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Donald H. Anderson2006
  2. Randall J. Larson2007–2009
  3. Charles L. Dunlap2009–2014
  4. Frederick W. Boutin2014–2019

President

  1. Randall J. Larson2007–2008
  2. Gregory J. Pound2008–2017
  3. Mark Huff2017–2019

Chief financial officer

  1. Randall J. Larson2007–2008
  2. Frederick W. Boutin2008–2014
  3. Robert T. Fuller2014–2019

Chief operating officer

  1. William S. Dickey2007
  2. Gregory J. Pound2008–2017
  3. James F. Dugan2017–2019
2010201520202025
Board members and other officers (47)

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • 100% Delaware3

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Former names

  • TransMontaigne Partners L.P.Mar 9, 2005 to Feb 26, 20192

Timeline

  1. May 15, 20268-K Other events67
  2. Apr 6, 20268-K Other events68
  3. Mar 20, 20268-K Executive or director change69
  4. Feb 10, 20268-K Entered a material agreement; New debt or obligation70
  5. Jan 26, 20268-K Regulation FD disclosure71
  6. Nov 19, 20258-K Other events72
  7. Oct 9, 20258-K Completed an acquisition or sale; Regulation FD disclosure73
  8. Sep 3, 20258-K Executive or director change; Regulation FD disclosure74
  9. Aug 25, 20258-K Other events75
  10. Aug 1, 20258-K Entered a material agreement; New debt or obligation76
  11. Jul 23, 20258-K Regulation FD disclosure77
  12. May 9, 20258-K Other events78
  13. Nov 12, 2014New chief executive Frederick W. Boutin becomes CEO15
  14. Aug 11, 2009New chief executive Charles L. Dunlap becomes CEO16
  15. May 1, 2007New chief executive Randall J. Larson becomes CEO17
  16. Apr 4, 2006New chief executive Donald H. Anderson becomes CEO18

Filings

43 filings to the SEC since October 2021: 5 annual reports, 13 quarterly reports, 25 major events. The latest 20:

  1. May 15, 20268-K EDGAR
  2. Apr 6, 20268-K EDGAR
  3. Mar 23, 202610-K EDGAR
  4. Mar 20, 20268-K EDGAR
  5. Feb 10, 20268-K EDGAR
  6. Jan 26, 20268-K EDGAR
  7. Nov 19, 20258-K EDGAR
  8. Nov 14, 202510-Q EDGAR
  9. Oct 9, 20258-K EDGAR
  10. Sep 3, 20258-K EDGAR
  11. Aug 25, 20258-K EDGAR
  12. Aug 12, 202510-Q EDGAR
  13. Aug 1, 20258-K EDGAR
  14. Jul 23, 20258-K EDGAR
  15. May 9, 202510-Q EDGAR
  16. May 9, 20258-K EDGAR
  17. Apr 2, 20258-K EDGAR
  18. Mar 27, 202510-K EDGAR
  19. Feb 26, 20258-K EDGAR
  20. Feb 21, 20258-K EDGAR

The 43 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

SEC filer profile

How TransMontaigne Partners LLC is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARTransMontaigne Partners LLC1
  • CIK0001319229
  • Employer ID (EIN)34-203722179
  • Filer statusNon-accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company79
  • Incorporated inDelaware79
  • Fiscal year endsDecember 311
  • Industry code (SIC)4610 Pipe Lines (No Natural Gas)1
  • SEC reviewing officeOffice of Energy & Transportation, Division of Corporation Finance1
  • Business address1670 Broadway, Suite 3100, Denver, CO 802021
  • Phone303-626-82001
  • Shares outstanding0 as of Mar 20, 20264
  • Public float$0 as of Jun 30, 20254
  • AuditorDeloitte & Touche LLP, Denver, Colorado PCAOB ID 34; no auditor attestation of internal control over financial reporting79
  • On EDGAR sinceMar 9, 20051
  • Filings888 in all: 4 (402), 8-K (223), 10-Q (61), 3 (46), SC 13G/A (27), 10-K (21), SC 13D/A (13), 424B5 (9)1
    All 41 form types

    4/A (8), CORRESP (8), SC 13G (8), UPLOAD (6), 8-K/A (5), 5 (4), EFFECT (4), 3/A (3), FWP (3), S-1/A (3), S-3 (3), S-3/A (3), S-8 (3), SC 13D (3), CT ORDER (2), DEFA14A (2), SC 13E3/A (2), 10-K/A (1), 10-KT (1), 15-15D (1), 25-NSE (1), 424B2 (1), 424B4 (1), 8-A12B (1), CERTNYS (1), DEF 14A (1), DEFM14A (1), NT 10-K (1), POS AM (1), PREM14A (1), S-1 (1), S-8 POS (1), SC 13E3 (1)

  • Latest filingsAnnual report (10-K) Mar 23, 2026
    Quarterly report (10-Q) Nov 14, 2025
    Proxy statement (DEF 14A) Jun 1, 2016
    Latest 8-K (8-K) May 15, 2026

Risk factors and legal proceedings

The risks TransMontaigne Partners LLC names in Item 1A of its 10-K filed Mar 23, 2026: 29 risks under these headings, as written.79

  • Risks Inherent in Our Business
  • We depend upon a relatively small number of customers for a substantial majority of our revenue. A substantial reduction of revenue from one or more of these customers would have a material adverse effect on our financial condition and results of operations.
  • We are exposed to the credit risks of our significant customers which could affect our creditworthiness. Any material nonpayment or nonperformance by such customers could also adversely affect our financial condition and results of operations.
  • Our continued expansion programs may require access to additional capital. Tightened capital markets or more expensive capital could impair our ability to maintain or grow our operations.
  • Our debt levels may limit our flexibility in obtaining additional financing and in pursuing other business opportunities.
  • Restrictive covenants in our senior secured term loans and revolving credit facility, the indenture governing our senior notes and future debt instruments may limit our ability to respond to changes in market conditions or pursue business opportunities.
  • We may incur substantial additional indebtedness, which could further exacerbate the risks that we may face.
  • The obligations of our customers under their terminaling services agreements may be reduced or suspended in some circumstances, which would adversely affect our financial condition and results of operations.
  • A significant portion of our operations are conducted through joint ventures, over which we do not maintain full control and which have unique risks.
  • Competition from other terminals and pipelines that are able to supply our customers with storage capacity at a lower price could adversely affect our financial condition and results of operations.
  • Many of our terminal facilities are connected to, and rely on, pipelines owned and operated by third parties for the receipt and distribution of refined petroleum products, and such pipeline operators may compete with us, make changes to their transportation service offerings or their pipeline tariffs, or suffer outages or reduced product transportation, which in each case would adversely affect our financial condition and results of operations.
  • Fluctuations in the price of the products that we purchase and sell could adversely affect our results of operations.
The other 18 risks
  • Expanding our business by constructing new facilities subjects us to risks that the project may not be completed on schedule and that the costs associated with the project may exceed our estimates or budgeted costs, which could adversely affect our financial condition and results of operations.
  • Continued inflationary pressures could negatively impact our financial condition and results of operations.
  • Adverse economic conditions periodically result in weakness and volatility, or high interest rates, in the capital markets, that may limit, temporarily or for extended periods, the ability of one or more of our significant customers to secure financing arrangements adequate to purchase their desired volume of product, which could reduce use of our tank capacity and throughput volumes at our terminal facilities and adversely affect our financial condition and results of operations.
  • Changes in United States administrative policy, including the imposition of or increases in tariffs on construction materials used in our expansion and maintenance projects, changes to existing trade agreements and any resulting changes in international trade relations, may have an adverse effect on us.
  • Our business involves many hazards and operational risks, including adverse weather conditions, which could cause us to incur substantial liabilities and increased operating costs.
  • We are not fully insured against all risks incident to our business and could incur substantial liabilities as a result.
  • A significant decrease in demand for refined products due to alternative fuel sources, new technologies or adverse economic conditions, including rising fuel prices, may cause one or more of our significant customers to reduce their use of our tank capacity and throughput volumes at our terminal facilities, which would adversely affect our financial condition and results of operations.
  • Cyber-attacks that circumvent our security measures and other breaches of our information technology systems, or a failure of our critical information technology systems, could disrupt our operations and result in increased costs.
  • Because of our lack of asset diversification, adverse developments in our terminals or pipeline operations could adversely affect our revenue and cash flows.
  • Our operations are subject to governmental laws and regulations relating to the protection of the environment that may expose us to significant costs and liabilities.
  • Terrorist attacks, and the threat of terrorist attacks, have resulted in increased costs to our business. Global hostilities or sustained military campaigns may adversely impact our cash flows.
  • Many of our storage tanks and portions of our pipeline system have been in service for several decades and could require increased maintenance or remediation expenditures, which could adversely affect our results of operations and our cash flows.
  • Climate change legislation or regulations restricting emissions of “greenhouse gases” or setting fuel economy or air quality standards could result in increased operating costs or reduced demand for the refined petroleum products that we transport, store or otherwise handle in connection with our business.
  • We could be adversely affected if we were to lose or have difficulty attracting and retaining qualified personnel.
  • Risks Inherent in an Investment in Us
  • ArcLight indirectly controls the conduct of our business and the management of our operations. ArcLight has conflicts of interest with and limited fiduciary duties to us, which may permit them to favor their own interests to our detriment.
  • ArcLight and its affiliates may compete with us and do not have any obligation to present business opportunities to us.
  • General Risks
  • We could be negatively impacted by future public health crises, epidemics and pandemics.
  • Any acquisitions we make are subject to substantial risks, which could adversely affect our financial condition and results of operations.

Legal proceedings

We are party to various legal, regulatory and other matters arising from the day-to-day operations of our business that may result in claims against us. While the ultimate impact of any proceedings cannot be predicted with certainty, our management believes that the resolution of any of our pending legal proceedings will not have a material adverse effect on our business, financial position, results of operations or cash flows.

The opening of Item 3, Legal Proceedings.79

Sources

The numbers on this page point here. Each one links to the record it came from.

  1. 1
  2. 2
  3. 3
  4. 4
  5. 5
  6. 6
  7. 7
  8. 8
  9. 9
  10. 10
  11. 11
  12. 12
  13. 13
  14. 14
  15. 15
  16. 16
  17. 17
  18. 18
  19. 19
  20. 20
  21. 21
  22. 22
  23. 23
  24. 24
  25. 25
  26. 26
  27. 27
  28. 28
  29. 29
  30. 30
  31. 31
  32. 32
  33. 33
  34. 34
  35. 35
  36. 36
  37. 37
  38. 38
  39. 39
  40. 40
  41. 41
  42. 42
  43. 43
  44. 44
  45. 45
  46. 46
  47. 47
  48. 48
  49. 49
  50. 50
  51. 51
  52. 52
  53. 53
  54. 54
  55. 55
  56. 56
  57. 57
  58. 58
  59. 59
  60. 60
  61. 61
  62. 62
  63. 63
  64. 64
  65. 65
  66. 66
  67. 67
    SEC EDGAROther events
  68. 68
    SEC EDGAROther events
  69. 69
  70. 70
  71. 71
  72. 72
    SEC EDGAROther events
  73. 73
  74. 74
  75. 75
    SEC EDGAROther events
  76. 76
  77. 77
  78. 78
    SEC EDGAROther events
  79. 79