Acquisition of three major seaborne oil terminals in Europe
M&A Transactions – Oil & Petrochemicals
The Engagement:
Commercial Due Diligence
Bulk liquids storage terminals
The Client:
Major Infrastructure Investment Fund
Duration:
3 months
Transaction summary
- The acquisition of three market-leading European bulk liquids storage terminals located in Hamburg, Amsterdam and the Strait of Gibraltar
- Total of 2.3 million cubic meters capacity storing a range of products spanning fuel oil, diesel, gasoline, base oils and chemicals
- Number of blue-chip customers with supply chain integration
- Enterprise value of the transaction approximately €725 million
- Energex also provided the commercial due diligence for the refinancing of this portfolio at a later stage
Outcome:
- Energex developed a long-term business plan to 2040, based on supply/demand outlooks, competitive landscape and contracted customer base
- Attended site visits and management presentations for all three terminals to assess capabilities and growth potential. Worked closely with the buy-side technical advisors
- Inputted into the buy-side financial model including generating feasible upside and downside scenarios
- Energex delivered lender’s report with reliance for the successful financing of the transaction and analysis for insurance providers
- Supported the Investment Committee’s analysis of the transaction from a commercial perspective
- Our client successfully closed on the transaction in 2019