Omega Partners Illinois, a subsidiary of terminal owners and operators Omega Partners III, has bought the Joliet terminal in Channahon, Illinois, US, from Oiltanking North America.
The Joliet terminal, which is dedicated to the storage of speciality chemicals, has a capacity of 44,600 m3 (281,000 bbl) and has rail, tank truck and barge transport connections.
‘Omega is excited at the opportunity presented by this transaction and looks forward to continuing the growth initiated by Oiltanking at the Joliet terminal,’ says Chris Pelligreen, a founder and principal of Omega.
OIltanking North America took the decision to sell the terminal due to its location and scale in the context of the company’s overall network, as it seeks to optimise its terminal portfolio under its Strategy 2025.
‘Since the acquisition of the facility in 2009, Oiltanking and the local team in particular have done a tremendous job of continuously improving operational performance and customer satisfaction. We are pleased to hand over the terminal to a strong US player with proven experience in terminal operations and who recognises the capabilities and potential of this facility,” says Jerry Hardman, Vice President, Business Development Americas for Oiltanking.
The transaction is expected to be completed during Q3 2020.