The Ontario Teachers’ Pension Plan and institutional investors advised by JP Morgan Asset Management have bought a European storage company.

The consortium said it completed its purchase of Koole Terminals from EQT Infrastructure.

The Netherlands-based Koole Terminals handles mineral oils, vegetable oils, chemicals, oleo-chemicals, biofuels and other liquid bulk.

The Koole family, as well as senior management, will invest in the company alongside JP Morgan Asset Management’s clients and OTPP.

EQT has more than tripled the company’s storage capacity to 2m cubic metres since it took ownership of the company in early 2011. 

Approximately 85% of storage capacity is in Rotterdam.

OTPP, along with the Canada Pension Plan Investment Board and OMERS, recently invested in the Skyway Concession Company in the US.

The company manages, operates and maintains the Chicago Skyway toll road.