September 4, 2015 [Het Financieele Dagblad/TankTerminals.com] - The Dutch financial daily Financieele Dagblad reports today that Swedish investment fund EQT, who own 85% of the shares of Koole, would be considering selling its share in the originally Dutch family-owned company.
It would be unclear whether the remaining 15%, owned by the Koole family and the management, would be sold as well.
Koole is a substantial player in the tank storage market, amongst others for edible/vegetable oils and fats and bio fuels. The company operates terminals in Holland (Rotterdam, Zaandam, Nijmegen), UK and Poland, in total nearly 2 million m³. Koole also owns 3 coasters and 12 barges.
According to the Financieele Dagblad EQT expects to generate € 1 billion form the sale.
The newspaper adds that the European tank storage market is in a good shape, contrary to the situation in Asia where there would be considerable overcapacity. Competitor Vopak, who operates terminals globally, reported very high occupancy rates for their Dutch operations in August this year, the paper states.
EQT acquired the Argos terminal (900,000 m³) in Rotterdam in 2011 and was subsequently operated by Koole. In July this year the BP Pernis terminal (200,000 m³) was added to the terminal network.
