- EQT Infrastructure has sold Contanda, a premier provider of liquid bulk storage solutions in North America, to institutional investors advised by J.P. Morgan Asset Management
- During EQT Infrastructure’s ownership, Contanda has experienced substantial growth, particularly in its core Gulf Coast and West Coast positions, and further professionalized operations via systems implementation and upgrades
The EQT Infrastructure II fund (“EQT” or “EQT Infrastructure”) today announced that it has completed the sale of Contanda LLC (“Contanda” or the “Company”) to institutional investors advised by J.P. Morgan Asset Management.
Acquired in February 2013, Contanda is a premier provider of storage and customized storage related services to owners of bulk liquid products, with a strong market position in the petrochemical, renewable energy and agricultural commodity sectors. Headquartered in Houston, Texas, Contanda has 15 terminals in North America with over seven million barrels of total storage capacity and approximately 275 employees. Contanda’s terminals are strategically located near deep water ports and transportation infrastructure, providing customers access to critical shipping lanes and distribution networks.
Together with the management team, EQT has supported Contanda in accelerating its growth trajectory. During EQT Infrastructure’s ownership, Contanda has strengthened its foothold by expanding capacity, enhancing product diversity, and strengthening operating capabilities. As part of increasing Contanda’s runway for continued future organic growth, EQT has supported the Company in adding new terminal sites in Houston and Stockton, which enable Contanda to progress towards its ambition of more than doubling its current capacity.
Jan Vesely, Partner at EQT Partners and Investment Advisor to EQT Infrastructure, commented: “Contanda has undergone a significant transformation over the past few years. While significantly diversifying its product base and growing in key US markets, Contanda has built a culture of safe operations and uncompromising customer focus. With an experienced team and existing and new strategic assets in place, the Company is well-positioned to execute against the next phase of its growth plan.”
G.R. “Jerry” Cardillo, CEO of Contanda, said: "We have enjoyed a fantastic partnership with EQT over the past six years and have benefitted from their support, vision and vast experience in the bulk liquid storage business. With the support of EQT, Contanda has grown significantly, in terms of both our footprint and capabilities, and we look forward to working with our new partners as we continue on our growth journey.”
Goldman Sachs acted as financial advisor and Simpson Thacher & Bartlett LLP as legal advisor to Contanda and EQT Infrastructure.
Jan Vesely, Partner at EQT Partners and Investment Advisor to EQT Infrastructure, +1 917 281 0850
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EQT is a differentiated global investment organization with more than EUR 62 billion in raised capital and around EUR 41 billion in assets under management across 20 active funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 21 billion and approximately 127,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.
More info: www.eqtgroup.com
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Headquartered in Houston, Texas, Contanda is a premier provider of storage and logistics services to owners of bulk liquid products in North America. The Company has over 7 million barrels of storage capacity across 15 terminals in North America. The business is focused on growth in the petrochemical, hydrocarbon, and renewable markets while maintaining a leading market position in the petroleum, chemical, agricultural commodity sectors.
More info: www.contanda.com