Northleaf Capital Partners has acquired a 90 percent stake in Douglas Terminals, a 557,000-cubic-meter liquid bulk storage terminal in Belgium’s Port of Ghent, from Hartree Partners and Ghent Transport & Storage NV (GTS).
Financial terms were not disclosed.
With the deal, GTS will retain the remaining 10 percent stake in the terminal and continue to manage operations under a management services agreement. Hartree GTS and Northleaf have also agreed to jointly develop Max Terminals, a new liquid-storage terminal that will rest adjacent to the Douglas Terminals site.
Douglas Terminals consists of 17 high-quality tanks currently used to store jet fuel, gasoil, diesel and biodiesel. Hartree and GTS started commercial operations at the terminal in 2017.
“Direct investments in high-quality bulk-liquid storage assets are consistent with Northleaf’s strategy and offer our investors significant potential for stable, long-term returns,” said Roderick Gad
