Campbell Transportation Company, Inc. entered into an agreement to acquire an unknown majority stake in Marine Assets of NGL Energy Partners LP (NYSE : NGL) for approximately $110 million on March 6, 2023. The transaction is expected to close at the end of March 2023. BofA Securities, Inc. acted as NGL's financial advisor and McAfee & Taft acted as NGL's outside legal counsel.

Campbell Transportation Company, Inc. completed the acquisition of all of the Marine Assets of NGL Energy Partners LP (NYSE : NGL) on March 30, 2023. NGL Energy Partners LP completed the sale of all of its marine assets for $111.65 million in cash less estimated expenses of approximately $7.5 million. The marine assets include 13 towboats and 25 tank barges. On April 3, 2023, the NGL Energy Partners announced, in addition to the completion of the sale of its marine assets, that it used a portion of the proceeds from the sale to repay the outstanding marine equipment loan of approximately $39 million with the remaining proceeds being used to repay amounts outstanding under its asset-based revolving credit facility and that it had completed the redemption of its 7.5% unsecured senior notes due in November 2023. In addition, the Partnership announced that at March 31, 2023, its total outstanding debt was slightly below $2.9 billion and that its expected total leverage to be approximately 4.5 times.