Zenith Energy has completed the acquisition of Arc Logistics Partners, with some equity from Warburg Pincus and Kelso and other investors financing the deal.
Zenith US received a line of equity of up to $625 million led by Warbug Pincus and Kelso, alongside management and other investors. Some of this is being used to finance the acquisition.
Zenith plans to further develop Arc’s existing 21 terminals and focus on new developments throughout North America.
Zenith International will continue to pursue further expansion opportunities in key international markets.
Jeff Armstrong, CEO of Zenith, says: ‘We are very pleased to have successfully completed the acquisition of Arc Logistics, which gives us a strong foothold into the US terminaling market with 21 terminals in 12 states, providing critical services to a broad range of customers in key markets across the country.’