The acquisition of 21 storage terminals has opened up opportunities for Zenith Energy Management to diversify its asset base and explore new investment potential
Zenith Energy Management’s acquisition of Arc Logistics Partners has given the company a strong foothold in the buoyant US terminal market and offers plenty of potential to seek market diversification opportunities.
Comprising 21 terminals in 12 states, the acquisition in December 2017 opened Zenith up to a broad range of customers in key product markets across the country. Up until then the company owned and operated three terminal assets in Amsterdam, the Netherlands, Bantry Bay in Ireland as well as Palermo, Columbia.
‘We were open to an entry point into North America and as market conditions began to evolve, we saw several opportunities,’ explains Jay Reynolds, chief commercial officer at Zenith. ‘We knew the Arc team very well and the more we examined the portfolio, the more opportunity we saw to grow and diversify ...