TransMontaigne Oil to Expand

All we know at this point is that TransMontaigne Oil Co. is in the process of making another acquisition. Company officials aren’t willing to give us details for another week.

“We have an acquisition pending,” says Jim Boyd, vice president and general counsel for the company. “That’s all I can say about it right now.”

As a result of the acquisition, the company will be relocating some of its staff. Some will leave Fayetteville and some will move to Fayetteville, Boyd says. The number of people involved hasn’t been determined yet, he says.

“As a result of that acquisition, there will be some people relocated,” he says.

TransMontaigne is a logistics company that transports oil products, including 95 percent of the gasoline sold in Northwest Arkansas, from refineries to retail outlets and from oil fields to refineries. The company has its executive offices in Denver but two of its three subsidiaries and most of its administrative and support services are based in Fayetteville.

The company has been expanding through an aggressive acquisition plan since it was organized in April 1995.