Northleaf Capital Partners’ Majority Stake Acquisition In Douglas Terminals from Ghent Transport & Storage NV And Hartree Partners Limited

Ashurst has advised Northleaf Capital Partners on its acquisition of a 90% stake in Douglas Terminals from Ghent Transport & Storage NV and Hartree Partners (UK) Limited.

Douglas Terminals is a 557,000-cubic metre liquid bulk storage terminal based in the Port of Ghent, Belgium. The facility consists of 17 high-quality tanks currently used for the storage of jet fuel, gasoil, diesel and biodiesel. Hartree and GTS started commercial operations at the terminal in 2017. GTS will retain a 10% stake and continue to operate the terminal under a management services agreement. As part of the transaction, Hartree, GTS and Northleaf Capital Partners have agreed to jointly develop Max Terminals, a new liquid storage terminal to be located on land adjacent to the Douglas Terminals site.

Northleaf Capital Partners is an independent global private markets investment firm with more than US$13 billion in commitments under management. Its global infrastructure practice owns and operates high-quality, long-life assets in the utilities, transport, energy and data infrastructure sectors across Canada, Europe, UK, USA, and Australia.

The Ashurst team was led by partner Michael Burns (Picture), assisted by senior associate Dallan Pitman and associates Caroline Durran and Tom Penton. Partner Derwin Jenkinson, assisted by senior associate Louise Young and associate Karen Chen, advised on finance matters. The Belgium team was led by partner David Du Pont, assisted by senior associate Bram Delmotte and associates Jörg Heirman, Yana Paulovich and Maxime Nuyts.

Involved fees earner: Michael Burns – Ashurst; Karen Chen – Ashurst; Bram Delmotte – Ashurst; David du Pont – Ashurst; Caroline Durran – Ashurst; Jörg Heirman – Ashurst; Derwin Jenkinson – Ashurst; Maxime Nuyts – Ashurst; Yana Paulovich – Ashurst; Thomas Penton – Ashurst; Dallan Pitman – Ashurst; Louise Youngman – Ashurst;

Law Firms: Ashurst;

Clients: Northleaf Capital Partners;