SL Capital Infrastructure II (“ASI”) and DIF Core Infrastructure Fund I (“DIF”) are pleased to announce the signing of an agreement to acquire 100% of UNITANK from the family owners, with ASI and DIF each acquiring a 50% stake.
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. 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.
Jan Westedt – Owner
“Our family has run UNITANK over two generations with a strategy emphasising close and trusted partnerships with our clients and employees, which were key elements of our success story. We are glad that DIF and ASI together with the management team will continue to pursue a long-term investment strategy centred around our philosophy and corporate culture.”
Dominic Helmsley – Head of Economic Infrastructure at Aberdeen Standard Investments
“We consider UNITANK to be a highly successful provider of storage capacity for strategic stockholding agencies and a key strategic partner for oil majors. We value the company’s historic growth and see significant future upside. Together with our partner DIF we look forward to working closely with UNITANK management in supporting the business and exploring further business opportunities.”
Willem Jansonius – Partner and Head of Core Infrastructure at DIF
“We firmly believe in the strategy as set by the current shareholder and management team. We are impressed with the commercial re-positioning of the business and its importance in providing essential services in its clients’ supply chains. We appreciate the well-invested asset base and the resulting high standards of operational excellence, which are essential to UNITANK’s current and future positioning.”
DIF is an independent infrastructure fund manager, with €5.6 billion of assets under management across seven closed-end infrastructure funds and several co-investment vehicles. DIF invests in greenfield and brownfield infrastructure assets located primarily in Europe, North America and Australasia through two complementary strategies:
- DIF Infrastructure V targets equity investments in public-private partnerships (PPP/PFI/P3), concessions, regulated assets and renewable energy projects with long-term contracted or regulated income streams that generate stable and predictable cash flows.
- DIF Core Infrastructure Fund I targets equity investments in small to mid-sized infrastructure assets in the energy, transportation and telecom sectors with mid-term contracted income streams that generate stable and predictable cash flows.
DIF has a team of over 115 professionals, based in eight offices located in Schiphol (the Netherlands), Frankfurt, London, Luxembourg, Madrid, Paris, Sydney and Toronto. Please visit www.dif.eu for further information.
Contact: Allard Ruijs, Partner; firstname.lastname@example.org.
Aberdeen Standard Investments has over €4 billion of assets under management across direct economic and concession infrastructure. The Economic infrastructure funds’ primary objective is to achieve long term, consistent returns by investing in brownfield core/core+ infrastructure assets in Europe. The fund’s aim is to construct a balanced portfolio of high quality European infrastructure opportunities focussing on small to mid-market opportunities across the utilities, transport and energy sectors.
Aberdeen Standard Investments is a leading global asset manager dedicated to creating long-term value for our clients, and is a brand of the investment businesses of Aberdeen Asset Management and Standard Life Investments. With over 1,000 investment professionals we manage €630 billion (30/06/18) of assets worldwide. We have clients in 80 countries supported by 46 relationship offices. This ensures we are close to our clients and the markets in which they invest. We are high-conviction; long-term investors who believe teamwork and collaboration are the key to delivering repeatable, superior investment performance. We are resolute in our commitment to active asset management.
Standard Life Aberdeen plc is headquartered in Scotland. It has around 1.2 million shareholders and is listed on the London Stock Exchange. The Standard Life Aberdeen group was formed by the merger of Standard Life plc and Aberdeen Asset Management PLC on 14 August 2017.