Lindsay Goldberg has concluded the agreement to sell its 49% shareholding in Odfjell Terminals US (OTUS) terminals to funds managed by Northleaf Capital Partners.
In a press release, Odfjell welcomed Northleaf as its new partners in the US, and wrote that it looks forward to further developing the US business together with them and the new CEO for the US terminals, John Blanchard and his team.
When announcing the agreement, Northleaf’s Managing Director and Co-Head of Infrastructure, Jamie Storrow, said that: “As a global leader in bulk liquid transportation and storage, the partnership with Odfjell is very appealing to us. In addition, the assets of Odfjell Terminals US represent an excellent investment opportunity due to the strength of the underlying market fundamentals, their diversified customer base and a highly competitive market position.”
The CEO of Odfjell SE, Kristian Mørch, added: “I am very satisfied that Northleaf now has become our new partner in our US terminals, which positions us to further develop our US business. I believe that Odfjell and Northleaf are a good match with their experience in infrastructure and in developing world leading storage assets and stable long-term returns.”
Read the article online at: https://www.hydrocarbonengineering.com/tanks-terminals/10062019/lindsay-goldberg-sells-its-shareholding-in-odfjell-terminals-us/