SL Capital Infrastructure II and DIF Core Infrastructure Fund I have signed an agreement to acquire 100% of UNITANK from the family owners, with the funds' owners each acquiring a 50% stake.

UNITANK is a market leading independent and neutral infrastructure and services provider storing liquid oil products, headquartered in Hamburg, Germany. The company owns and operates five terminals in Germany and one terminal in Belgium, all in key strategic locations. The terminals handle diesel, gasoline, jet fuel and heating oil and have a total storage capacity of c. 1.1 million cubic meters. Servicing both strategic stockholding agencies with product storage as well as commercial clients with product throughput provides UNITANK with a stable and resilient business model.

The acquisition provides DIF and Standard Life with a strong and differentiated platform in the German liquid bulk storage and throughput market. Its flexible business model, high-quality and state-of-the-art asset base, and operational excellence positions the company well for the future. The consortium will continue to back the company’s long-term and successful strategy for the business.

Watson Farley & Williams has advised the shareholders of UNITANK Holding GmbH & Co. KG in the deal. 

The acquisition is subject to European Commission merger clearance.