ILTA Member Contanda Now Owned by Institutional Investors
ILTA member Contanda LLC, a provider of bulk liquid storage and logistics services in North America, announced on December 18 that institutional investors advised by JP Morgan Asset Management have completed the acquisition of the company from the EQT Infrastructure II fund.
Contanda, in a statement, said the ownership transition would enable it 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 CEO G.R. “Jerry” Cardillo. “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.” Headquartered in Houston, Contanda has more than 7 million barrels of storage capacity across 15 terminals in North America.