I-SQUARED-CAPITAL
I Squared Capital, through its ISQ Global Infrastructure Fund II, and Rubis (EPA: RUI), listed on Euronext Paris and a Paris-based company specializing in the distribution of petroleum products and bulk liquid storage, have signed an agreement to form a joint venture partnership through an investment in Rubis Terminal, a wholly-owned subsidiary of Rubis. I Squared Capital will acquire 45 percent of the shares in Rubis Terminal and will jointly control the company alongside Rubis.
With a portfolio of 13 facilities and a capacity of 3.5 million cubic meters across four countries, Rubis Terminal provides critical bulk-liquid storage infrastructure to a diversified base of industrial customers and across a broad range of petroleum, chemical and agri-food products. The partnership will accelerate Rubis Terminal’s strategic plan to strengthen its position within its current footprint, diversify its product offerings and explore expansion outside of Europe.
“The exclusive transaction with a listed industrial company is the result of a deep relationship developed over many years,” said Adil Rahmathulla Managing Partner at I Squared Capital. “The existing portfolio provides a strong foundation for building Rubis Terminal into a leading storage company using the I Squared Capital platform approach of operational optimization, bolt-on acquisitions and select greenfield projects.”
Subject to regulatory and other customary conditions, closing of the transaction should take place during first half 2020.
About I Squared Capital: I Squared Capital is an independent global infrastructure investment manager focusing on energy, utilities, telecom, transport and social infrastructure in the Americas, Europe and Asia. The firm has offices in Hong Kong, London, Miami, New Delhi, New York and Singapore.
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