Summit Terminaling has announced an equity commitment led by EIV Capital (EIV) that will allow Summit to construct, own and operate terminal assets in the U.S.
Summit is based in Cumming, Georgia and led by Mike Turchi, Steve Turchi and Melissa Dugan. The executive team collectively has 100+ years of diverse bulk liquids terminal experience across commercialisation, engineering, construction, operating, finance, M&A, private equity, strategy and origination.
Summit offers multi-faceted services to the upstream, midstream and downstream sectors including producers, refiners, manufacturers, traders, processors, terminal operators and end-users of bulk liquid commodities offering all modes of transportation.
With more than 30 terminals developed to date, Summit’s diverse product experience includes crude oil, refined products, petrochemicals, LPG, base oils, asphalts, fertilisers and renewable fuels. All service offerings are tailored to meet specific client requirements with a strong emphasis on safety, quality and customer satisfaction.
Mike Turchi, Summit Terminaling, LLC CEO, said: “We are excited to be partnered with EIV and their team of seasoned industry professionals. The principals of Summit Terminaling have devoted the majority their 35+ year careers to this space and have hands on experience across the entire carbon chain. Our partnership with EIV provides Summit with an enhanced platform to continue our strategy to build a portfolio or owned and operated terminal assets.”
Patti Melcher, EIV Capital Co-Founder & Managing Partner, said: “We are pleased to partner with Summit as it builds, operates and commercializes terminal assets. Given that U.S. oil and gas production and volumes of refined products and chemicals continue to increase, Summit will provide the logistics and storage necessary to alleviate bottlenecks in constrained marketplaces.”
For more information visit www.summitterm.com