A new terminal and storage company, Tivoli Midstream, has been formed by midstream industry veterans Rance Fromme, Rick Adams and William Brod.
Tivoli Midstream has been set up to acquire, construct, manage and optimise terminals and storage logistics, and is backed by its equity partner Energy Spectrum capital, which will provide the working capital. The company is headquartered in Houston, Texas, US, near to the Gulf Coast region’s refineries and chemical plants. It will serve major refining, chemical and trading companies.
Fromme, Adams and Brod have combined experience of 70 years in the terminal, midstream, logistics, and chemical industries, including in marine terminals, production plant logistics and handling more than 200 different chemical products, refined products, crude oil, renewable products and dry-bulk commodities.
‘Despite the pandemic and volatile commodities markets, we believe there are significant opportunities to build and manage a portfolio of storage and terminal assets. Tivoli was formed to fill this need in the market and brings an exceptional record of safety and commitment to the industry and its customer partners,’ says Tivoli president and CEO Fromme.
Fromme, who has bachelor of science in chemical engineering from Texas A&M University and an MBA from the University of Houston Clear Lake, has held senior positions at the Dow Chemical Company and previously the previously the president and CEO of Oiltanking North America. He has served on various boards, including on the International Liquid Terminal Association (ILTA) board of directors.
Brod, the chief financial officer, is a certified public accountant and has a bachelor’s degree in accounting and an executive MBA in global energy management from the University of Houston. He has previously served as CFO of several other energy firms, including Oiltanking North America, American Electric Technologies and the North America Generation division of AES Corporation.
Adams, Tivoli’s chief commercial officer, has 20 years of management, sales and business development experience in the energy industry in various leadership positions. He was formerly the director of commercial development at Factor Gas Liquids. He has a bachelor’s degree in business administration from the University of Phoenix.
Energy Spectrum Partner Mike Mayon says: ‘This is a tremendous opportunity for Energy Spectrum to partner with an industry leading management team. The Tivoli team is a proven operator of storage and terminal assets with a superior safety record. We look forward to building a world-class logistics services company with Rance and his team.’