An affiliate of New York-based private-equity firm Warburg Pincus led a line of equity for Zenith Energy, the company said Aug. 4.
The line of equity, up to $600 million, will support Houston-based Zenith’s worldwide terminals for oil, refined products and petrochemicals, the company said.
Minority investors joined Warburg Pincus, and they include management team members, Zenith noted. In more than 20 years, Warburg Pincus has provided more than $9.5 billion in worldwide energy investments, a press release noted.
“We look forward to working with Warburg Pincus as we develop and grow Zenith into a leading international terminaling company. The firm’s deep energy experience and large, global footprint will provide us with the support needed to take advantage of opportunities in the marketplace,” Jeffrey R. Armstrong, Zenith’s CEO, said .
“We are pleased to partner with Jeff and the Zenith team to leverage their unique knowledge, experience and impressive track record in terminaling to build a business of scale. With growing crude production and shifting patterns of product flows, we are excited about Zenith’s growth prospects,” said In Seon Hwang, Warburg Pincus’ managing director.
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