VARO Energy, a growing downstream player in the North West European-market, today announced that the group has completed its acquisition of Hydrocarbon Hotel (HCH), a modern hydrocarbon product blending and storage terminal in the port of Amsterdam from Blue Ocean Associates Ltd (BOA).
Prior to this, VARO Energy already owned 50% of the shares in the terminal and was fully responsible for its operation.
Built in 2011 and operated by 11 employees on site, the facility includes 11 tanks with a total capacity of over 140’000 m3 connected through modern loading and mixing pump equipment. Three dedicated berths which are accessible from every tank at the terminal provide access for sea- and inland-vessels. HCH is mainly used for the import, export, storage and blending of gasoline, biofuels and gasoline components.
Roger Brown, CEO of VARO Energy, commented: “The HCH is an important asset for the growth of our company in the ARA-region (Amsterdam – Rotterdam – Antwerp). With this further acquisition, we increase our strategic flexibility to better serve our clients in the region and along the Rhine.”
About VARO Energy
VARO Energy refines, stores and distributes oil products for the North West European market. The company owns a refinery in Cressier, Switzerland, a minority share in the Bayernoil refinery, Southern Germany, all Petrotank storage facilities throughout Germany, as well as additional storage facilities, distribution and marketing businesses in Benelux, France, Germany and Switzerland. VARO Energy’s shareholders include private investment company Reggeborgh; Carlyle International Energy Partners, an advisory fund which is part of the global alternative asset manager The Carlyle Group; and international energy and commodities company Vitol.