Midstream industry veterans Rance Fromme, Rick Adams and William Brod have announced the formation of Tivoli Midstream, which brings together 70 years of combined terminal, midstream, logistics, chemical and energy experience.
Tivoli is backed by an equity commitment from its partner, Energy Spectrum Capital, to support growth and provide working capital. The company said it will seek to acquire, construct, manage and optimise strategic terminals and storage logistics in superior hub locations.
Its management has significant operations experience in overseeing marine terminals, production plant logistics and handling more than 200 different chemical products, refined products, crude oil, renewable products and dry-bulk commodities. Headquartered in Houston, Texas, Tivoli maintains close proximity to refineries and chemical plants in the gulf coast region.
Rance Fromme said: “Despite the pandemic and volatile commodities markets, we believe there are significant opportunities to build and manage a portfolio of storage and terminal assets. Tivoli was formed to fill this need in the market and brings an exceptional record of safety and commitment to the industry and its customer partners.”
Mike Mayon, Partner at Energy Spectrum, added: “This is a tremendous opportunity for Energy Spectrum to partner with an industry leading management team. The Tivoli team is a proven operator of storage and terminal assets with a superior safety record. We look forward to building a world-class logistics services company with Rance and his team.”
Fromme brings more than 21 years of proven management and operations experience in the midstream and petrochemical industry. Previously, he held senior positions with The Dow Chemical Company and Oiltanking in the United States and internationally. As President and CEO of Oiltanking North America, he led the successful growth of the North American business and focused on improving health, safety & environmental (HSE) and operational performance. Joining Fromme, Tivoli’s management team consists of:
- Bill Brod, Chief Financial Officer, a certified public accountant with 30 years of experience in the energy and power sectors.
- Rick Adams, Chief Commercial Officer, a seasoned commercial and operations executive with more than 20 years of industry expertise. He is responsible for establishing commercial relationships and providing market intelligence to drive growth initiatives.
For more information visit www.tivolimidstream.com