European bulk liquid and gas storage operator Tepsa has acquired a 24-hectare terminal located in the Port of Rotterdam from Global Energy Storage (GES).
I Squared Capital-owned Tepsa bought GES Netherlands, owner of GES Rotterdam, for an undisclosed sum.
The GES Rotterdam terminal site has deep-sea waterfront access and connectivity to existing rail and pipeline networks. It has a current tank storage capacity of 212,000 cubic metres and 18ha of idle land available for development.
Tepsa said GES Rotterdam strengthens its position in the Amsterdam-Rotterdam-Antwerp (ARA) region. The acquisition expands the company’s presence in the chemicals and biofuels sectors and supports its diversification into new energy markets.
Bruno Hayem, CEO of Tepsa, said: “This acquisition enhances our strategic presence in the ARA region, creating a new platform to accelerate growth in our existing businesses and diversify into new energy sectors.”
Following the transaction, GES no longer holds assets in the Netherlands and will focus its resources on expanding its presence in Asia, with particular emphasis on its terminal at Port Klang, Malaysia, the company said.
Peter Vucins, CEO of GES, said: “Part of the investment cycle is realising value from assets at the right time, and we’re confident this was the right moment for GES. We are now fully focused on growing our business in Asia, with Port Klang at the centre of that strategy.
“We extend our sincere thanks to the Rotterdam team and our customers for their support and for maintaining a safe, reliable, and forward-looking operation throughout our ownership.”
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