We welcome Northleaf as our new partners in the US, and look forward to further develop our US business together with them and our new CEO for the US terminals, John Blanchard and his team.
When announcing the agreement, Northleaf’s Managing Director and Co-Head of Infrastructure, Jamie Storrow, said:
“As a global leader in bulk liquid transportation and storage, the partnership with Odfjell is very appealing to us. In addition, the assets of Odfjell Terminals US represent an excellent investment opportunity due to the strength of the underlying market fundamentals, their diversified customer base and a highly competitive market position.”
Kristian Mørch said:
“I am very satisfied that Northleaf now has become our new partner in our US terminals, which positions us to further develop our US business. I believe that Odfjell and Northleaf are a good match with their experience in infrastructure and in developing world leading storage assets and stable long-term returns.”
As previously communicated, the sale of OTR and new JV partner lead to changes in the governance model for our terminal division. The OTBV office in Rotterdam is now closed, but Frank Erkelens and Koert Schouten will stay on to facilitate the transition into the new governance model and the process concerning a possible new JV partner for our Asia terminals. During this process OTBV will continue to be responsible for the Asian terminals together with the team in Singapore.
About Northleaf Capital Partners
Northleaf Capital Partners is an independent global private markets fund manager with more than US$12 billion in private equity, private credit and infrastructure commitments under management on behalf of public, corporate and multi-employer pension plans, endowments, foundations, financial institutions and family offices. Northleaf’s 130-person team, located in Toronto, Montreal, London, New York, Chicago, Menlo Park and Melbourne, is focused exclusively on sourcing, evaluating and managing private markets investments globally.
Northleaf’s portfolio includes more than 350 active investments in 34 countries, with a focus on mid-market companies and assets.
