US-based bulk liquid storage providers Contanda and BW Terminals recently announced plans to merge.
Both companies have been under common ownership since December, when institutional investors advised by JP Morgan Asset Management acquired Contanda. The combined company will have 18 sites and more than 10 million barrels of storage capacity.
Michael Suder, a terminal industry veteran and current CEO of BW Terminals, will assume the role of Contanda CEO and serve as the CEO of the combined Contanda–BW Terminals organization post-merger. His appointment follows GR Cardillo’s decision to pursue other opportunities.
“Both Contanda and BW Terminals have a reputation for exceptional service enabled by dedicated employees,” Suder said. “By bringing Contanda and BW Terminals together, we are entering a new chapter of growth and success. I look forward to leading this combined organization and I firmly believe that the combination will further enhance our customer service offering and create a leading platform in the industry.”
The combined company will be headquartered in Houston. The integration is expected to be complete in the first half of 2020.
“Mike has a proven record of accomplishment at BW Terminals and has overseen tremendous growth at each of the companies he has led throughout his almost three-decade career in the terminals industry,” the company’s board of directors said. “We believe he is the ideal leader for the Contanda–BW Terminals organization.
“We have tremendous respect for what Contanda has achieved under Jerry’s leadership and wish him well in his future endeavors.”