Swedish investment organization EQT, through its EQT Infrastructure II fund, recently completed the sale of Contanda to a group of “institutional investors.”
Contanda says the ownership transition allows it to continue to deliver on its objective of doubling its bulk liquid terminal storage capability by 2022, while expanding into bulk renewable and petrochemical markets, and maintaining a leading position in the refined products, renewable fuels, chemical and agricultural commodity sectors.
“This is an exciting time for Contanda,” said GR “Jerry” Cardillo, CEO of Contanda. “Our new partners recognize our long-term growth potential and are as enthusiastic as we are to further grow into the renewable and petrochemical markets.”
“Contanda has undergone a significant transformation over the past few years,” said Jan Vesely, partner at EQT Partners and investment advisor to EQT Infrastructure. “While significantly diversifying its product base and growing in key US markets, Contanda has built a culture of safe operations and uncompromising customer focus.
During EQT Infrastructure’s ownership, Contanda expanded capacity, enhanced product diversity and strengthened operating capabilities. In supporting Contanda’s organic growth, EQT helped the company add new terminal sites in Houston and Stockton, enabling it to progress toward the goal of doubling current capacity.
Contanda’s new investors were advised by J.P. Morgan Asset Management.
“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,” Cardillo said. “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.”