Tradebe Port Services, a leading hydrocarbon storage operator in Spain, has announced the acquisition of 100 percent of the share capital in TWG Tanklager Wilhelmsburg GmbH, a provider of chemicals storage tanks in the Seaport of Hamburg, Germany.
With the acquisition of TWG, Tradebe Port Services expands its geographical presence into Germany and improves its services to its customers, as it said it “can now store a broader array of products with a larger total capacity in two prime locations”.
TWG was acquired from BDH Biodiesel Hamburg GmbH, an entity controlled by Dr. August Oetker KG. TWG is one of the few remaining independent bulk liquid storage terminal operators in the heart of the Port of Hamburg, the third largest port in Europe.
The company operates a depot of 14 storage tanks with a capacity of 34,500m3, employing eight people. Furthermore, TWG has a permit to expand the capacity by additional 40,000m3. The terminal is permitted to store class B hydrocarbons, chemicals and specialty chemical products. The facility is connected to a 9-metre drought jetty able to moor sea going vessels up to 230m length overall, the railway network as well as to the road via road tankers.
Mr. Josep Creixell, chairman of Tradebe, said: “We are delighted with this acquisition as it allows us to expand our storage terminal business in the strategic Port of Hamburg. This acquisition fits well with our strategy of providing a flexible and customised service to our clients and stakeholders, whilst enlarging the range of services into chemicals and specialty chemicals. Furthermore, the acquisition strengthens the presence of our Group in the German market, a key geography for our group’s growth strategy. We see very attractive opportunities to develop new projects in TWG.”
Dr. Heino Schmidt, CFO of Dr. August Oetker KG, added: “We are glad to have found a good new home for TWG Tanklager Wilhelmsburg. Tradebe Port Services is a strategic player, family-owned, and able to provide a good platform from which TWG Tanklager Wilhelmsburg will be able to grow and prosper.”
ING Corporate Finance acted as the sole financial advisor. Watson Farley & Williams (legal), Warth & Klein Grant Thorton (tax and accounting), Wood Mackenzie (commercial consultant) and Ramboll (environmental) acted also as advisor to Tradebe. Dr. August Oetker KG was advised by Bankhaus Lampe KG and CMS Hasche Sigle.
For more information visit www.tradebeportservices.com