Rubis Terminal, a joint venture between Rubis and I Squared Capital, has completed the acquisition of Terminales Portuarias (Tepsa) from Pétrofrance. Tepsa operates four bulk liquids storage terminals in Spain with a combined capacity of 912,000 m3, handling chemicals, biofuels and conventional fuels. Tepsa generated revenues of €52m in 2019 and has, Rubis says, “significant growth potential”. The deal increases the size of Rubis Terminal by some 30%; it now has 4.6m m3 of tank capacity across 17 sites in five countries.
“We have full confidence in the success of the integration between the two companies,” says Bruno Hayem, CEO of Rubis Terminal. “Rubis Terminal and Tepsa share common values and vision. This similarity comes from our histories, industrial cultures, and success-oriented workforces. Our new collaboration has already been very successful with the recent issuance of our €150m additional senior secured notes.”
Nuria Blasco, CEO of Tepsa, says: “We are looking forward to being part of Rubis Terminal, with its exceptional growing opportunities for Tepsa and its team members. We already feel as if we have known each other for years.” Jacques Nahmias, chairman of Pétrofrance SA, adds: “The completion of the sale of Tepsa represents an important milestone in the history of the company and its parent Pétrofrance. We are very happy about this transaction that allows Tepsa to join a group with an international presence, with common values and which will support its continued development.”[post_title] => Rubis Terminal completes Tepsa acquisition [post_excerpt] => [post_status] => publish [comment_status] => open [ping_status] => open [post_password] => [post_name] => rubis-terminal-completes-tepsa-acquisition [to_ping] => [pinged] => [post_modified] => 2020-10-30 15:22:37 [post_modified_gmt] => 2020-10-30 15:22:37 [post_content_filtered] => [post_parent] => 0 [guid] => https://hcblive.com/?p=29869 [menu_order] => 0 [post_type] => post [post_mime_type] => [comment_count] => 0 [filter] => raw )