July 2020

Omega Partners to Buy Oiltanking Joliet Terminal in Channahon, Illinois

Omega Partners has acquired the Oiltanking Joliet terminal in Channahon, Illinois. The closing of the transaction was subject to the usual external approvals and operational transition processes.

The Oiltanking Joliet terminal is located some 50 miles (80 kilometers) southwest of Chicago, Illinois. It has a capacity of approximately 44,600 cbm (281,000 barrels) and is primarily dedicated to the storage of specialty chemicals.

As part of Oiltanking's Strategy 2025, the company is continuously evaluating and optimizing its global terminal portfolio. Notwithstanding its efforts to further expand its business in the U.S., Oiltanking North America has decided to sell the Joliet terminal due to its location and scale in the context of the overall network.