🔴 FIP is trading 5% down today after completing $45M Tidewater acquisition funded by debt

FIP is trading 5% down at $4.68 after completing a $45 million cash acquisition of Tidewater Logistics funded by an upsizing of its existing term loan.

• The deal expands FIP’s barge and rail transloading footprint and is expected to add approximately $9 million of Adjusted EBITDA over the next twelve months.
• Investor sentiment may be weighed down by the increased debt load required to finance the transaction.
• FIP is significantly underperforming the broader U.S. market, with major indices trading up nearly 1%.