Euroports has been officially sold
The holding which controls 26 port terminal and inland terminal has been acquired by a joint venture led by Monaco Resources Group (through R-Logitech) and participated by two Belgian funds
A consortium consisting of R-Logitech, a subsidiary of Monaco Resources Group as majority shareholder, and the two Belgian investment firms PMV and FPIM, each for an equal share and as minority shareholder, has completed the acquisition of Euroports Holdings Sarl, one of the largest maritime infrastructure companies in Europe, operating 26 deep-sea port terminals, which are strategically located along key trade routes.
R-Logitech is an international logistics and technology services provider focused mainly on the natural resources sector. The group’s primary business lines are logistics, terminal management, technology solutions and procurement. Africa is a particular focus and the group also has European offices in Paris, Vienna, London and Monaco.
Euroports handles over 60 million tons of bulk, breakbulk, containerized and liquid products per year for industry leading companies with whom it has long-term relationships; its over 3,000 employees develop, operate and manage global maritime supply chain solutions for international clients across several industry sectors.
PMV is an investment company focused on the economic future of Flanders which finances promising companies from the very start to growth and internationalization, offering tailor-made financial solutions for every entrepreneur with a solid business plan and a strong management team, by providing (venture) capital, loans or guarantees.
PMV has a portfolio of about EUR 1.2 billion of assets under management.
FPIM is an investment company fully owned by the Belgian State whose investment portfolio consists of stakes in public and private enterprises of strategic interest to the Belgian State.
FPIM has three core activities: holding participations in public and private enterprises, investment in enterprises with an important social value in one of the priority sectors selected by FPIM, and contribution to policies of the Belgian l government and implementation of projects on its behalf.
“The new shareholders see a significant growth opportunity as the company executes its 5-year business plan, continues to deliver on its goals of providing best-in-class services, and expands into new geographies and products.
R-Logitech has a successful track record of managing ports and terminals on an international scale, with both PMV and FPIM bringing significant experience in managing critical infrastructure and companies like Euroports.
All three new shareholders will be valuable partners to the business going forward, dedicated to developing the business further in Europe and globally; they also see significant benefits that R-Logitech’s parent company, Monaco Resources Group, will bring as an operational and industrial partner” the new owners say in an official statement.
At the end of March Antin Infrastructure Partners, Arcus Infrastructure Partners and Brookfield Infrastructure Partners announced to have entered into a definitive agreement to sell Euroports Holdings to a new joint venture comprising of R-Logitech S.A.M., PMV and FPIM.
Under the ownership of Antin, Arcus and Brookfield, Euroports has consistently delivered value to both its customers and local stakeholders over the years, establishing new port and logistic areas across Europe and China, investing in its infrastructure and becoming the partner of choice in maritime supply-chain solutions for its customers and is well-positioned for continued growth under its new ownership.
Agreement signed between Euroports and the City of Zhuhai
A cooperation agreement between Euroports Rauma and the city of Zhuhai means increased exportation of timber products to China in the future. The Managing Director of Euroports Finland, Timo Lehtinen, and Deputy Director of Administrative Committee of Zhuhai Economic and Technological Development Area, Zhang Ge, signed a cooperation agreement for long-term development of business activities between the port operator and the City of Zhuhai.
Euroports has been engaging for a long time already in cooperation with China through forestry products; one of its three port terminals in China is located in Zhuhai, a rapidly growing centre of industry in South-East China. The reason for the city of Zhuhai being a party to the agreement is connected with the abundance of furniture production in the region.
Finnish timber products are shipped from Rauma to Zhuhai, so there was already a link. It is well-known that Finland can supply wooden material of a good quality as well as expertise in forest industry for the production of paper, pulp and wood products. The high market demand in China is a good match for this.
The Gaolan port terminal in Zhuhai has operated for several years on a small scale, but recently Euroports has invested heavily in it; so far operations have been run locally, but a delegation from the City of Zhuhai has now visited Rauma for the first time, to familiarise themselves with the operation of Euroports’ port terminal.
An advantage of Euroports over many other operators is its capability to provide operator services for both despatched and received products, something that is appreciated in China.
“With the operation as a whole handled by a single operator, they feel they can trust to get what they want and what they need. We are in practice the only port operator in Finland with a network capable of this” pinpointed Lehtinen who described the signed agreement as symbolic. “This agreement will result in exports to China growing even further; we are confident that investments made in the Gaolan terminal will pay themselves back and that Euroports will thus indirectly benefit from the good trade relations between Finland and China”.