Spain: Rubis Terminal acquires storage provider TEPSA
The deal includes 4 coastal terminals with almost 1 million m3 in storage capacity.
Rubis Terminal, a joint venture between I Squared Capital and Rubis, announces the acquisition of TEPSA, a Spain-based leading bulk liquid storage operator.
TEPSA, controlled by Pétrofrance S.A., operates four coastal terminals located in Barcelona, Bilbao, Tarragona and Valencia with 912,000 m3 of storage capacity dedicated to chemical, biofuel and petroleum products. TEPSA generated 52 million euros of revenues in 2019 and has significant growth potential resulting from its strong positioning in the Spanish market.
This transformational acquisition, which increases the size of Rubis Terminal by around 30%, is the first since the Rubis – I Squared Capital joint venture was formed in April 2020.
"This acquisition is only the first step in a strategy which further consolidates Rubis Terminal's leadership position, while diversifying its activities and its footprint. This first acquisition demonstrates the positive dynamism brought by our Franco-American cooperation, based on the common objective to drive long-term growth,” says Gilles Gobin, founder and Managing Partner of Rubis.
Rubis Terminal is an independent European leader in the storage of petroleum, chemical and agri-food products. Rubis Terminal operates 3.6 million cubic meters of storage capacity at 13 terminals in France, Netherlands, Belgium and Turkey.
