Zenith Energy bags USD 600 million investments from Warburg Pincus LLC

Published By : 05 Aug 2014 | Published By : QYRESEARCH

Houston-based Zenith Energy is setting up operations with an investment of USD 600 million from Warburg Pincus LLC, a New York-based global private equity firm. The upcoming energy setup will be led by Jeffrey Armstrong, who, until recently, was heading corporate strategy at Kinder Morgan Inc., another Houston-based firm.

Managing Director at Warburg Pincus, Seon Hwang stated that his firm was in conversation with Armstrong about this deal for a few years. Hwang further said that the formation of new company is a vote of confidence in Armstrong and his management team.

The terminal business is a fast flourishing industry across the globe as the demand for exporting, storing, and transporting oil and other liquids continues to remain on the rise. Since these are important assets to the infrastructure of energy industry, and promises growth, Zenith will work towards adding assets in the Houston area, along the Houston Ship Channel, along with Africa, Latin America, and more.

Armstrong’s profile boasts some of serious achievements. During Armstrong tenure as the President of Kinder Morgan Terminals from 2001 to 2012, the business for the firm grew from 12 terminals to 122 terminals.

The first big move by Zenith will be to build a new terminal at Palermo and Colombia for multiproduct liquids. 

The other important addition to Zenith’s management apart from Armstrong is Jay Reynolds, as Chief Commercial and Legal Officer. Before this, Jay was heading Lukoil Pan Americas as COO.
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