SL Capital Infrastructure II (ASI), managed by Aberdeen Standard Investments, and DIF Core Infrastructure Fund I (DIF) have acquired 100 percent of UNITANK from the family owners, with ASI and DIF each acquiring a 50 percent stake.
“Our family has run UNITANK over two generations with a strategy emphasizing close and trusted partnerships with our clients and employees, which were key elements of our success story,” said Jan Westedt, an owner. “We are glad that DIF and ASI together with the management team will continue to pursue a long-term investment strategy centered around our philosophy and corporate culture.”
UNITANK is a market-leading independent and neutral infrastructure and services provider storing liquid oil products, headquartered in Hamburg, Germany. The company owns and operates five terminals in Germany and one terminal in Belgium, all in key strategic locations.
The terminals handle diesel, gasoline, jet fuel and heating oil and have a total storage capacity of c. 1.1 million cubic meters (tk cubic feet). Servicing both strategic stockholding agencies with product storage as well as commercial clients with product throughput provides UNITANK with a stable and resilient business model.
The acquisition provides DIF and ASI with a strong and differentiated platform in the German liquid bulk storage and throughput market. Its flexible business model, high-quality and state-of-the-art asset base, and operational excellence positions the company well for the future. The consortium will continue to back the company’s long-term and successful strategy for the business.
The transaction is conditional on European Commission merger clearance.
