October 18, 2024 [Tepsa]- I Squared, a leading independent global infrastructure investment manager, announced today that it has acquired the remaining 55% stake in Tepsa –a key player in the storage of bulk liquid and gas in France, Spain and the Northern European hubs of Antwerp and Rotterdam– from Rubis SCA, a French energy company. I Squared has been a shareholder in Tepsa, formerly known as Rubis Terminal, since 2020, when it acquired an initial 45% stake.
To support Tepsa’s continued growth and diversification, I Squared has appointed three new board members to the Paris, France-based company: Baudouin Prot, Michael Kumar, and Casper Pieper.
“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.”
“Tepsa’s transition under the ownership of I Squared marks a pivotal moment in our evolution,” said Bruno Hayem, CEO of Tepsa. “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 capitalize 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.”
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