CLH Group has completed its acquisition of 15 Inter Terminals liquid product storage facilities in the UK, Ireland, Germany and the Netherlands from Inter Pipeline.
Inter Pipeline first said that it was considering selling its European bulk liquid storage business in August 2019, and the deal with CLH was announced in September 2020. Inter Pipeline will retain its eight terminals in Sweden and Denmark.
CLH says that buying the terminals, which have a total capacity of 18 million bbl and cost £420 million (€457 million), follows its strategy of international expansion and diversification in response to climate change. It is now one of the leading liquid terminal companies in Europe, with operations in eight countries.
The deal includes 11 terminals in the UK with a capacity of more than 2 million m3, storing chemical products, fuels and biofuels. CLH says that these terminals will complement the activities of CLH-PS, its existing UK subsidiary. Also included is one terminal in Ireland, where CLH also has an existing subsidiary, CLH Aviation Ireland, two terminals in Germany and one in the Netherlands.
‘This transaction will expand CLH’s knowledge of chemical products and biofuel storage by gaining the experience of a European leader in these business segments. It is also in line with CLH’s strategy of diversification beyond hydrocarbons in response to the challenges of climate change,’ says CLH Group CEO, Jorge Lanza.
CLH chairman Jose Luis Lopez de Silanes says that the acquisition continues the company’s international expansion and consolidates its presence in the European market.