Macquarie Asset Management, via its Lombard Odier Macquarie Infrastructure Fund, has agreed to sell TanQuid, the largest independent liquid petrochemical storage operator in Germany, to Sunoco following 20 years of ownership. Financial terms were not disclosed.
TanQuid provides external storage and shipment services to clients in the international mineral oil and chemical industry. The company operates more than 3 million cubic meters of storage facilities across 15 inland sites in Germany and one in Poland, located in strategically important transportation points.
Macquarie first invested in TanQuid in 2005 and has supported the business through organic growth and strategic acquisitions throughout this ownership period. During this time, the total capacity of the portfolio increased from 2.5 million cubic meters to more than 3.1 million cubic meters, and the number of tank farm sites doubled from eight to 16.
As part of the portfolio’s continued growth, TanQu
