A newly formed acquisition company has acquired terminal, processing, and storage assets in Maryland, US.
Origin Americas is a North American acquisition vehicle controlled by physical oil trading firm Element Group. The acquisition comprises a nearly 50-acre liquid bulk storage terminal with rail, truck, vessel loading and unloading infrastructure, as well as one of the largest used moto oil and lubricant collection businesses in the Mid-Atlantic region.
To fund the acquisition and to provide ready capital to finance future growth, Origin Americas has closed a $100 million strategic financing partnership with Orion Energy Partners along with equity funding from a group of experienced energy investment and commodities trading veterans.
Nicholas Myerson, CEO of Origin Americas, says: ‘We are excited to launch the Origin Americas platform with the acquisition of such a strategic and high-quality business in Baltimore. We look forward to building upon the Baltimore assets acquisition and continuing to execute on our growth strategy with the support of Orion Energy Partners.’