HOUSTON—Midstream industry veterans Rance Fromme, Rick Adams and William Brod July 15 announced the formation of Tivoli Midstream, which brings together 70 years of combined terminal, midstream, logistics, chemical and energy experience. Tivoli is backed by an equity commitment from its partner, Energy Spectrum Capital, to support growth and provide working capital.
Tivoli will seek to acquire, construct, manage and optimize strategic terminals and storage logistics in superior hub locations. Management has significant operations experience in overseeing marine terminals, production plant logistics and handling more than 200 different chemical products, refined products, crude oil, renewable products and dry-bulk commodities. Headquartered in Houston, Texas, Tivoli maintains close proximity to refineries and chemical plants in the gulf coast region.
“Despite the pandemic and volatile commodities markets, we believe there are significant opportunities to build and manage a portfolio of storage and terminal assets,” said Fromme. “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.”
“This is a tremendous opportunity for Energy Spectrum to partner with an industry leading management team,” commented Mike Mayon, Partner at Energy Spectrum. “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.”
Fromme brings more than 21 years of proven management and operations experience in the midstream and petrochemical industry. Previously, he held senior positions with The Dow Chemical Co. and Oiltanking in the United States and internationally. As president and CEO of Oiltanking North America, he led the successful growth of the North American business and focused on improving health, safety and environmental (HSE) and operational performance. Joining Fromme, Tivoli’s management team consists of the following:
· Bill Brod, CFO, a certified public accountant with 30 years of experience in the energy and power sectors; and
· Rick Adams, chief commercial officer, a seasoned commercial and operations executive with more than 20 years of industry expertise. He is responsible for establishing commercial relationships and providing market intelligence to drive growth initiatives.
Tivoli serves major refining, chemical and trading companies through its core service offerings.
The company's headquarters is located at 2929 Allen Parkway, Suite 200, Houston, Texas 77019.