Private equity investor EQT Infrastructure has acquired a majority stake in Argos Terminals, the storage and terminal business of BeNeLux-based oil company Argos Group. Financial terms of the deal were not disclosed, though the company said Argos Group would retain a minority stake. The deal is expected to close in July.
EQT Infrastructure has agreed to acquire a majority stake in Argos Terminals, the storage and terminal business in the Argos Group. Argos Group will remain as minority shareholder.
In partnership with Argos Group, EQT Infrastructure will continue to develop and grow the storage and terminals business at the Rotterdam Pernis Terminal. Argos Terminals is the fourth largest independent mineral oil storage terminal operator in the port of Rotterdam with an 8 % market share. It will be headed by Roland Pechtold as CEO.
“As oil is increasingly being refined at the source, supply of refined products is growing steadily. Rotterdam is the main port and distribution center for oil products in Europe and is more and more becoming an energy hub. With the joint support from EQT Infrastructure and Argos Group we will be able to greatly enhance our position and achieve further growth,” says Roland Pechtold.
Argos Terminals has ambitious growth and development plans for its tank terminal in Rotterdam Pernis. Argos Terminals is located in the second petroleum harbor and today occupies an area of 50 acres with a 650,000 m(3) storage capacity for various oil products. Over the next few years the storage capacity is expected to more than double to around 1.5 million m(3), mainly through the construction of new storage capacity.
“In the process of expanding and developing Argos Terminals, EQT Infrastructure will contribute capital as well as industrial experience and know-how. Through the investment in Koole Tanktransport in Rotterdam EQT Infrastructure is already in the oil storage business and the investment in Argos Terminals is a very important step for its growth strategy and commitment to this industry,” says Martin Rey who will become Chairman of the Board of Argos Terminals.
The Argos Group is one of the BeNeLux region’s largest independent oil companies and was founded in 1984. It is today owned by Peter Goedvolk who is also group CEO.
“Argos Group has very ambitious growth plans reflected in the recently announced merger talks between Argos Group and North Sea Group (NSG) which we expect to finalize later this year. Argos Terminals is an essential link in the logistics system of this new combination and the participation of EQT Infrastructure in Argos Terminals guarantees the realization of our expansion plans and improves the competitiveness of the combination Argos Oil / NSG,” says Peter Goedvolk, CEO of Argos Group.
The transaction is expected to be completed by the end of July 2011, pending approval from the Dutch Competition Authority (NMa) and completion of consultation with the unions.
EQT is the leading private equity group in Northern Europe with more than EUR 13 billion in raised capital and multiple investment strategies. Together with a superior network of Industrial Advisors, EQT implements its business concept by acquiring or financing good medium-sized to large companies in Northern and Eastern Europe, Asia and the United States, developing them into leading companies. Development is achieved by applying an industrial strategy with focus on growth. Since inception, EQT has invested EUR 9.7 billion in more than 85 companies and exited more than 40. EQT-owned companies have more than 500,000 employees.
EQT Infrastructure is a EUR 1.2 billion fund, launched 2008, investing primarily in existing infrastructure in Northern and Eastern Europe but can also invest globally, particularly in North America. Investment targets are basic infrastructure, concession based infrastructure, social infrastructure and infrastructure-related services
EQT Partners, acting as investment advisor to the managers of each EQT fund, has more than 100 investment professionals with an extensive industrial and financial competence. EQT Partners has offices in Copenhagen, Frankfurt, Helsinki, Hong Kong, Oslo, London, Munich, New York, Shanghai, Singapore, Stockholm, Warsaw and Zurich.
More information can be found on www.eqt.se
About Argos Oil
Argos Oil was set up by CEO Peter Goedvolk in 1984 and is one of the fastest-growing oil and energy companies in the Benelux. Its divisions in the Netherlands, Belgium, Luxembourg, France and Germany are active in all aspects of the oil and fuel business. Energy needs and the mix of energies satisfying them, in which there is increasing emphasis on the environment, are constantly changing. Argos responds to this with flexible working methods and a broad product portfolio. Recently, Argos Oil announced plans to merge with North Sea Group. The merger creates the largest independent player in the North Western European oil and energy market with a turnover of EUR 10 billion and 850 employees.