FTAI Infrastructure agrees to buy DRUbit for $255 million enterprise value
On September 27, 2026, the company's subsidiary Drub LLC agreed to buy all membership interests of DRUbit LLC from DRUbit Holdings LLC for an enterprise value of $255 million, subject to adjustments. A September 28 press release from the company's Jefferson Energy unit says the deal covers the Port Arthur Terminal in Texas and a 50% interest in the Hardisty, Alberta Diluent Recovery Unit, and that the acquired assets are expected to generate about $50 million of annual EBITDA over the next twelve months. Closing is expected in the fourth quarter of 2026, subject to regulatory approvals.
Key points
- Enterprise value of $255 million, adjusted for cash, indebtedness, net working capital and transaction expenses; purchase price reduced by DRUbit's term debt of about $190 million as of September 27, 2026, which is expected to remain outsta
- Barclays Bank PLC provided a debt commitment of $72 million to fund the remaining portion of the purchase price, subject to customary conditions.
- Company expects approximately $50 million of annual EBITDA from the acquired assets over the next twelve months; closing expected in the fourth quarter of 2026.
- Buyer would pay a $15.3 million termination fee if it breaches its obligations, and either party may terminate if closing has not occurred within five months of signing.
The filing
Written by AI on Nov 9, 2026, 11:44 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on September 28, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.