Paris, France-based Rubis Terminal, which distributes petroleum products and provides bulk liquid storage throughout Europe, is looking to grow through a new investment partnership with I Squared Capital.
Rubis Terminal, a subsidiary of Rubis, currently operates 13 facilities with a capacity of 3.5 million cubic meters spread across four countries. The company provides critical bulk-liquid storage infrastructure to a diversified base of industrial customers across a broad range of petroleum, chemical and agri-food products.
The partnership with I Squared is intended to accelerate Rubis’ plans to bolster its position within its current footprint, diversify its product offerings and explore expansion outside Europe, according to the company.
As part of their agreement, I Squared, through its ISQ Global Infrastructure Fund II, will acquire 45% of the shares in Rubis Terminal and jointly control the company alongside Rubis.
“The exclusive transaction with a listed industrial company is the result of a deep relationship developed over many years,” said Adil Rahmathulla, managing partner at I Squared Capital. “The existing portfolio provides a strong foundation for building Rubis Terminal into a leading storage company using the I Squared Capital platform approach of operational optimization, bolt-on acquisitions and select greenfield projects.”
Subject to regulatory and other customary conditions, the transaction is expected to close during the first half of 2020, the companies said.