Lindsay Goldberg has sold its 49 percent shareholding in Odfjell Terminals US (OTUS) to funds managed by Northleaf Capital Partners.

In a statement, Odfjell welcomed Northleaf as its new partners in the U.S., and said it looks forward to further develop its U.S. business together with them and its new CEO for the U.S. terminals, John Blanchard and his team.

When announcing the agreement, Northleaf’s Managing Director and Co-Head of Infrastructure, Jamie Storrow, said: “As a global leader in bulk liquid transportation and storage, the partnership with Odfjell is very appealing to us. In addition, the assets of Odfjell Terminals U.S. represent an excellent investment opportunity due to the strength of the underlying market fundamentals, their diversified customer base and a highly competitive market position.”

CEO of Odfjell SE, Kristian Mørch, said: “I am very satisfied that Northleaf now has become our new partner in our U.S. terminals, which positions us to further develop our U.S. business. I believe that Odfjell and Northleaf are a good match with their experience in infrastructure and in developing world leading storage assets and stable long-term returns.”

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10th June 2019