The BioUrja Group and BBH Capital Partners have formed Rivercrest Logistics Partners. The joint venture will acquire, own, and operate infrastructure and logistics assets. Rivercrest will initially target assets that have an enterprise value of approximately $15 to $50 million.
HOUSTON, July 17, 2018 /PRNewswire/ — The BioUrja Group (“BioUrja”) of Houston, TX and BBH Capital Partners (“BBHCP”) have formed a joint venture, Rivercrest Logistics Partners, LLC (“Rivercrest”), to acquire, own, and operate infrastructure and logistics assets. The platform will primarily target assets related to energy-centric and agriculture-centric commodities, but may also include those related to other commodities that are strategic to and synergistic with the platform.
The investment partnership was created to leverage the respective strengths of the partners: BBHCP is the private equity arm of Brown Brothers Harriman & Co., an owner-operated partnership founded in 1818 with over 6,000 employees across 18 global offices. Throughout its 200-year history, the Firm has maintained a well-established track record of advising, lending to, and investing in companies that produce, transport, and trade physical commodities. BioUrja is a leading commodities trading company and logistics asset owner-operator, with annual revenues averaging over $3 billion, and multiple offices across the globe.
Amit Bhandari, Chairman and CEO of BioUrja, stated, “Together, the partners bring substantial capital, strong relationships across the commodities sector worldwide, deep operational and commercial expertise, and a powerful track record of successful investments and acquisitions.” Brad Langer, Managing Director and Co-Manager of BBHCP, added, “We are extremely excited about having Rivercrest as a new platform for strategic investments and acquisitions. BioUrja and BBHCP are like-minded partners that have had a close working relationship for many years. The opportunity to formally join forces to build a strategic infrastructure and logistics platform which leverages our respective relationships and knowledge base across the commodities sector is very attractive to BBHCP.”
Rivercrest will initially seek assets for acquisition with an enterprise value of approximately $15 to $50 million, although larger acquisitions and partnerships will be considered based on their strategic fit with the platform. Rivercrest will be jointly managed by BioUrja and BBHCP senior executives. The team will be seeking opportunities across the United States, with select international opportunities also being considered.
About the BioUrja Group:
The BioUrja Group supplies and trades physical commodities, including biofuels, petroleum products, crude oil, natural gas, electric power, metal alloys, grains, and animal feed products. The Group owns and operates the BioUrja New Town Terminal, a frac sand & crude oil terminal, in the heart of the Bakken formation, as well as an ethanol terminal in Port Barre, Louisiana and an NGL terminal under development in Port Allen, Louisiana (acquired from Murphy Energy in 2017). Additionally, the BioUrja Group owns and operates approximately 25 grain elevators across the mid-western United States and Texas, and other warehousing facilities in India, China, Singapore, and Mexico. See www.Biourja.com for more information.
About BBH Capital Partners:
BBH Capital Partners, the private investing arm of Brown Brothers Harriman & Co., was founded in 1989, and is an active investor in private, growth-oriented middle-market companies. To date, it has deployed more than $3 billion across 80 investments.
BBHCP is led by Co-Managers and Principals with approximately 130 years of combined private equity and transaction experience who have demonstrated financial, technical, and operational expertise over numerous economic cycles. The group benefits from its long-tenured staff, including direct team members, Senior Advisors and Executive Advisory Council members, as well as a dedicated Operational Resources Group, all of whom are deeply engaged in sourcing, due diligence, and portfolio company oversight.
BBHCP leverages the relationship and intellectual capital of the broader BBH network, which includes particular depth in the commodities and logistics space. The firm was originally founded as a merchant trading business, and has a long history of advising and investing in companies that produce, transport, and trade physical commodities. In addition to its equity investments, BBH manages a book of more than $1.0 billion of loans to physical commodities companies and has board representation across numerous commodities trade organizations. See BBH.com for more information.