GPS Group is an independent storage and logistics company, formed in 2016, backed by funds managed by Blue Water Energy (BWE) and White Deer Energy (WDE). GPS will deploy up to $500 million in equity capital in key global storage hubs with a focus on brown and greenfield investments.

HCH is a gasoline storage and blending terminal located in the Port of Amsterdam with a total existing capacity of 148,500 cubic meters (934,036 bbl) and three dedicated berths which are accessible to sea and inland vessels. Varo will continue to utilize the storage capacity of HCH.

Varo wholly owns a refinery in Switzerland and it has a 45% share in a refinery in Germany. It also has an oil storage capacity of 3 million cubic meters in northern Europe.

GPS is led by CEO Eric Arnold, the former managing director of VTTI Asia, based in Singapore. Arnold has an extensive track record, with over 34 years of delivering storage developments, having successfully delivered nine brownfield and six greenfield developments over his career. Prior to becoming managing director of VTTI Asia, Arnold was the COO of VTTI Group, and previously he was the CEO of three joint venture companies for Vopak and VTTI.

Arnold is joined by Peter Vucins (business development Europe, Middle East and Africa), Goh Yong Seng (business development Far East), Jim Miller (business development Americas) and Sim Seow Wah (Group CFO), based across the Netherlands, China and the U.S. The team is also supported by Executive Chairman Andrew Winser, who has over 40 years of industry experience. In his last role, he was head of international business development for Shell’s Oil Trading Business.