The CLH Group has recently acquired 15 terminals in four countries. It said this follows its strategy of “international expansion and diversification in response to climate change”.
Yesterday (September 22), CLH entered into an agreement with Inter Pipeline Ltd to acquire the liquid product storage facilities of its subsidiary Inter Terminals, in the United Kingdom, Ireland, Germany and the Netherlands.
Through this transaction, a further 15 liquid product storage terminals will be added to CLH’s current network, making the company the leader in Europe with operations in eight countries.
CLH said the transaction is expected to complete in the fourth quarter of 2020, subject to customary closing conditions and regulatory approvals.
The Chairman of CLH, José Luis López de Silanes, said: “This agreement represents a unique opportunity to continue the company’s international expansion and consolidate its presence in the European market”.
CLH’s Chief Executive Officer, Jorge Lanza, added: “This transaction will expand CLH’s knowledge on chemical products and biofuel storage by gaining the experience of a European leader in these business segments. It is also in line with CLH’s strategy of diversification beyond hydrocarbons in response to the challenges of climate change.”
Christian Bayle, President and Chief Executive Officer of Inter Pipeline, concluded: “CLH is acquiring a high-quality business with an outstanding team, who have made an important contribution to the success and growth of Inter Pipeline over the past 15-years.”
The 11 U.K. terminals included in the agreement have a capacity of more than 2 million cubic metres and can store a wide range of liquid products related to a number of supply chains including diverse chemical products, as well as traditional fuels and biofuels.
CLH said: “Integrating these terminal facilities in the United Kingdom offers an excellent complement to CLH-PS, the CLH Group subsidiary already operating in the country.”
In addition, the agreement also includes one terminal in Ireland, where CLH already operates at Dublin Airport through its subsidiary CLH Aviation Ireland, plus two more in Germany and one in the Netherlands.
Citigroup acted as financial advisor to CLH.
For more information visit www.clh.es