Contanda LLC (“Contanda” or the “Company”), a provider of bulk liquid storage and logistics services in North America, announced that institutional investors advised by JP Morgan Asset Management have completed the acquisition of Contanda from the EQT Infrastructure II fund (“EQT”).
This transition of ownership will allow Contanda to continue to deliver on its key strategic business objective of doubling its bulk liquid terminal storage capability by 2022 while expanding into the bulk renewable and petrochemical markets and maintaining a leading market position in the refined products, renewable fuels, chemical, and agricultural commodity sectors.
“This is an exciting time for Contanda,” said G.R. “Jerry” Cardillo, CEO of Contanda. “Our new partners recognize our long-term growth potential and are as enthusiastic as we are to further grow into the renewable and petrochemical markets.”
Contanda Terminals LLC (Contanda) submitted an application to the City of Hoquiam on October 23, 2017, to expand their existing methanol distribution terminal at the Port of Grays Harbor to handle renewable energy products.
An update letter sent earlier this year clarifies its goals and urges the state to allow the city to move forward with that process.
Headquartered in Houston, Texas, Contanda is a premier provider of storage and logistics services to owners of bulk liquids in North America. The company has over seven million barrels of storage capacity across 15 terminals in North America. The business is focused on growth in the petrochemical, hydrocarbon, and renewable markets while maintaining a leading market position in the refined products, renewable fuels, chemical, and agricultural sectors. Information about Contanda is available at www.contanda.com.