Axeon Specialty Products (Axeon SP) is a specialty petroleum products company with a proud lineage. Originally part of CITGO Asphalt Refining Company, the company was acquired by NuStar Energy LP in 2008. In 2012, NuStar Energy sold 50% of its ownership of the asphalt business to Lindsay Goldberg LLC, a private investment firm located in NYC, to form a joint venture called NuStar Asphalt LLC. Lindsay Goldberg LLC then purchased the company outright in February 2014, naming it Axeon Specialty Products.
Axeon SP boasts an extensive logistics network that includes a vast terminal system with significant storage and distribution capability. The company also provides an array of petroleum-based specialty products, including high-performance modified asphalts and warm-mix products. Finally, Axeon SP provides state-of-the-art technical services related to product development, solving pavement problems and providing general field support.
Headquartered in Stamford, Connecticut, the company’s largest facility is located in Paulsboro, NJ, across the Delaware River from Philadelphia. This Axeon SP refinery is comprised of two petroleum refining units, a liquid storage terminal for petroleum and chemical products, three marine docks, rail offloading capacity, a polymer modified asphalt (PMA) production facility and a testing laboratory. The storage facility has a capacity of 4.1 million barrels.