I Squared Capital completed the acquisition of a 45% stake in Rubis Terminal from The Rubis Group.

I Squared Capital, a global infrastructure investor, completed the acquisition of a 45% stake in Rubis Terminal from The Rubis Group, a Paris-based company specialized in the distribution of petroleum products and bulk liquid storage. Rubis Terminal, with a portfolio of 13 facilities and a capacity of 3.5m m3 across four countries, is a leading operator providing critical bulk liquid storage infrastructure to a diversified base of industrial customers including petroleum and chemical products as well as fertilizers and edible oil. The transaction values Rubis Terminal at an enterprise value of $1.09bn. “I Squared Capital has developed 17 infrastructure platforms in the last few years and will use the same approach of operational optimization, bolt-on acquisitions and select greenfield projects to develop in partnership with Rubis, a leading global storage company. Since we entered into exclusivity in December, the Covid-19 crisis has further demonstrated the critical role storage assets play in the global supply chain. With occupancy levels at nearly 100% following a surge in global demand for storage capacity, this investment further contributes to our strategy of portfolio diversification," Sadek Wahba, I Squared Capital Chairman & Managing Partner.