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CVC Strategic Opportunities Platform to acquire stake in CLH

CVC Capital Partners’ (CVC) Strategic Opportunities Platform has agreed to acquire a 25 per cent stake in CLH, a Spanish oil transportation and storage company.

CVC’s Strategic Opportunities Platform will acquire this stake from Ardian (10 per cent), as well as Kutxabank (5 per cent), Abanca (5 per cent) and Alberta Investment Management Corporation (AIMCO) on behalf of certain of its clients (5 per cent).
CLH has one of the largest and most efficient integrated oil product transportation and storage networks in the world with over 4,000 kilometres of oil pipeline and a storage capacity of more than 8 million cubic metres in Spain, which is available to all oil operators that do business in the country. The company also owns the largest oil pipeline network in the UK.
CVC funds have been actively investing in Spain over the last 20 years, and CLH is their 15th major investment in the country. This will be the fourth investment made from CVC’s Strategic Opportunities Platform, which was established in response to growing demand from large investors to be able to invest for the long term in stable, high-quality businesses.
Javier de Jaime, at CVC, says: “CLH is a leading and high-quality infrastructure company providing an essential service across the countries in which it operates. CLH has an extraordinary track record of generating value for both its customers and stakeholders. We look forward to partnering with management as they develop and expand the company.”
José Luís López de Silanes, chairman of CLH, says: “We are delighted to welcome CVC as our newest shareholder. Their expertise in the Spanish, UK and energy markets, as well as their long-term, strategic financial support will be invaluable to us as we continue to drive operational excellence and deliver best-in-class service.”
CVC was advised by Natixis Partners Spain (financial adviser), KPMG, Boston Consulting and Uría Menéndez. Natixis was the sole arranger and underwriter of the acquisition financing.

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