October 18, 2024 [Storage Terminals Magazine]- I Squared, a prominent independent global infrastructure investment manager, has announced its acquisition of the remaining 55 percent stake in Tepsa, a key player in the storage of bulk liquid and gas across France, Spain, and the Northern European hubs of Antwerp and Rotterdam, from French energy company Rubis SCA. I Squared has been a shareholder in Tepsa, previously known as Rubis Terminal, since 2020, when it initially acquired a 45 percent stake.
To support Tepsa’s ongoing growth and diversification, I Squared has appointed three new board members to the Paris-based company: Baudouin Prot, Michael Kumar, and Casper Pieper. These additions bring significant management and operational expertise to further strengthen Tepsa’s leadership and enhance value for its stakeholders.
“We’re excited to bring Tepsa fully under the ownership of I Squared and continue to support its growth ambitions as a leading provider of sustainable storage solutions in Europe,” said Mohamed El Gazzar, senior partner at I Squared. “Our three newly appointed board members have strong experience in both management and operational roles, and we are confident in their ability to strengthen Tepsa’s capabilities and enhance value for our stakeholders.”
Bruno Hayem, CEO of Tepsa, noted the significance of the transition, stating: “Tepsa’s transition under the ownership of I Squared marks a pivotal moment in our evolution. Our decision to rebrand reflects the maturity that we have achieved as a company and our commitment to progress. Tepsa will continue to uphold its core values and its motto, ‘Sustainable Storage Solutions for Everyday Life,’ underscoring our commitment to provide safe and sustainable solutions. This renewed identity puts us in a great position to capitalise on future opportunities and continue developing through the energy transition while remaining at the forefront of the European liquid bulk storage sector. With the support of I Squared and our newly appointed board members, we are focused on fostering positive contributions to all our stakeholders and in the communities we serve.”
The acquisition strengthens Tepsa’s position as a leader in the European liquid bulk storage industry, as it continues to focus on sustainability and innovation in the energy transition.
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