Chemoil Terminals acquired by investor group, changes name to Olympus Terminals
An investor group has announced the acquisition of Chemoil Terminals LLC, a leading independent liquid fuels transportation terminal that includes petroleum and renewable fuels focused on the Southern California market. Chemoil Terminals’ name will be changed to Olympus Terminals following the transaction.
Chemoil Terminals, headquartered in Long Beach, California, is the second-largest independent petroleum storage provider in Southern California for a variety of refined products including diesel, renewable diesel, biodiesel, and gasoline. The company operates two terminals—the Carson Terminal and the Long Beach Marine Terminal—that are connected by an extensive pipeline network.
“We are excited to partner with these investors as we continue to serve the greater Los Angeles area,” said Vince Godfrey, CEO of Olympus Terminals. “With our strong ability to create and deliver the fuel required to meet today’s rigorous environmental standards, we are well positioned for growth.”
Olympus Terminals is backed by an investor group composed of a majority investment from a fund advised by Davidson Kempner Capital Management LP, Pilot Travel Centers LLC, the largest travel center operator and a leading fuel supplier in North America, and an investment fund managed by Intrepid Investment Management LLC.