MIRA and WSIP complete HES International acquisition
In the Netherlands, Macquarie Infrastructure and Real Assets (MIRA), via Macquarie European Infrastructure Fund 5, and West Street Infrastructure Partners III (WSIP), managed by Goldman Sachs, have completed the acquisition of HES International B.V (HES), one of the largest diversified port terminals businesses in Europe, from Riverstone Holdings LLC (Riverstone) and The Carlyle Group (Carlyle).
According to a statement, MIRA and WSIP are experienced, long-term infrastructure investors with strong track records of supporting the sustainable development of their portfolio companies. The new shareholders, who each control 50 percent of HES, look forward to working in partnership with the Executive Board and the employees to further develop and grow the company.
MIRA and WSIP are supportive of management’s strategy to grow HES through investment in new projects and to strengthen the existing operations of the terminals. The new shareholders recognize the key role played by HES’ employees and are committed to an open and collaborative relationship with HES’ Works Council(s).
Macquarie Infrastructure and Real Assets (MIRA) is a part of Macquarie Asset Management, the asset management arm of Macquarie Group, a diversified financial group providing clients with asset management and finance, banking, advisory and risk and capital solutions across debt, equity and commodities. Globally, MIRA manages over 58 marine terminals located across Asia, Europe, and North America, ~46 of which handle dry or liquid bulk cargoes.
Since 2005, MIRA has completed over US$10 billion of terminal investments in twelve countries, including a range of brownfield and greenfield projects. In the bulk liquid storage sector, MIRA owns and manages assets with a combined capacity of approximately 25 million m3, placing Macquarie as the third largest independent owner globally.
West Street Infrastructure Partners (WSIP) is an infrastructure investment fund managed by the Merchant Banking Division of Goldman Sachs. WSIP, together with its predecessor funds GS Infrastructure Partners I & II, are the principal investment vehicles managed by Goldman Sachs that make direct investments in infrastructure and infrastructure-related assets and companies. The primary focus of the funds is on investment opportunities in the energy, transportation and utility sectors.
Founded in 1908, HES International B.V is HES is one of the largest and diversified storage, port terminals and logistics businesses in Europe. It is focused on the storage and handling of liquid bulk products and dry bulk products. With strategic locations in some of Europe’s most accessible ports, HES benefits from highly attractive catchment areas and established long-term relationships with the region’s blue-chip customers.
The company has built a unique platform of best-in-class liquid and dry bulk terminals, including the two largest dry bulk import terminals in North West Europe, EMO (Rotterdam) and OBA (Amsterdam). HES has also established North West Europe’s newest liquid bulk terminal, HES Botlek Tank Terminal (HBTT), and helped the largest independent tank terminal in Germany, HES Wilhelmshaven Tank Terminal (HWTT), a transition from a refinery to fully operational tank terminal.
HES is successfully implementing a EUR 700 million transformation and growth strategy, which includes the construction of the 1.3 million m3 HES Hartel Tank Terminal in the Port of Rotterdam. This strategy enables HES to grow into a significant tank terminal operator in North West Europe, while further strengthening its position as one of the largest diversified dry bulk terminal operators in Europe.