HOUSTON, Feb. 21, 2020 /PRNewswire/ -- U.S.-based bulk liquid storage providers Contanda LLC ("Contanda") and BW Terminals, Inc. ("BW Terminals") today announced plans to merge. Both companies have been under common ownership since December, when institutional investors advised by J.P. Morgan Asset Management acquired Contanda. The combined company will have 18 sites with over ten million barrels of storage capacity today.
Michael ("Mike") Suder, a terminal industry veteran and the current CEO of BW Terminals, will assume the role of Contanda CEO and serve as the CEO of the combined Contanda–BW Terminals organization post-merger. His appointment follows G.R. ("Jerry") Cardillo's decision to pursue other opportunities. The combined company will be headquartered in Houston.
The Board of Directors issued the following statement: "Mike has a proven record of accomplishment at BW Terminals and has overseen tremendous growth at each of the companies he has led throughout his almost three-decade career in the terminals industry. We believe he is the ideal leader for the Contanda–BW Terminals organization. We have tremendous respect for what Contanda has achieved under Jerry's leadership and wish him well in his future endeavors."
"Both Contanda and BW Terminals have a reputation for exceptional service enabled by dedicated employees. By bringing Contanda and BW Terminals together, we are entering a new chapter of growth and success," said Mr. Suder. "I look forward to leading this combined organization and I firmly believe that the combination will further enhance our customer service offering and create a leading platform in the industry."
The integration is expected to be complete in the first half of 2020.
Headquartered in Houston, Texas, Contanda is a premier provider of storage and logistics services to owners of bulk liquids in North America. The company has over seven million barrels of storage capacity across 15 terminals in North America. The business is focused on growth in the petrochemical, hydrocarbon, and renewable markets while maintaining a leading market position in the refined products, renewable fuels, chemical, and agricultural sectors. Additional information about Contanda is available at www.contanda.com.
About BW Terminals
BW Terminals is an independent developer and operator of agricultural, petroleum and chemical liquid terminal storage facilities. The company has three terminal sites located in Westwego, Louisiana; Harvey, Louisiana; and Brunswick, Georgia. The BW Terminals facilities are equipped to store a wide range of petroleum, chemical and agricultural products. Additional information about BW Terminals is available at https://www.bwterminals.com.
SOURCE Contanda LLC