International liquids and bulk terminaling company Zenith Energy announced on Aug. 4 that an affiliate of global private equity firm Warburg Pincus agreed to lead a line-of-equity investment of up to $600 million in Zenith. Warburg Pincus is joined by minority investors, including members of the management team and other individuals.
Zenith is planning to buy, build and operate terminals primarily in Latin America, Europe and Africa, which include the storage and logistics for crude oil, refined products and petrochemicals. Zenith is also searching for opportunities in logistics and distribution assets that support terminals, such as pipelines, truck racks and barges.
Earlier this year, Zenith and Grupo Coremar announced the receipt of a contract for construction of phase one of a new multiproduct terminal in Palermo, Colombia.
“We look forward to working with Warburg Pincus as we develop and grow Zenith into a leading international terminaling company,” said Zenith CEO Jeffrey R. Armstrong. “The firm’s deep energy experience and large, global footprint will provide us with the support needed to take advantage of opportunities in the marketplace.”
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