GES comprises a core asset group of operational storage terminals — two of them greenfield projects built by GES — generating significant long-term, contracted income and underlying free cash flow from blue-chip counterparties such as Varo Energy, Equinor and Vitol.
The terminal portfolio stores products such as gasoline, ethanol, naphtha and LPG, enhancing energy security in key geographical regions.
Over time, three of the four assets were sold individually — starting with Hamriyah in 2024, then Amsterdam and Rotterdam in 2025.
Approx. Revenue
$20m
Employees
~60
Countries
1
Bolt-on acquisitions
4
Why we invested
01
Repeat team, repeat model — a world-class management team with over 100 years of collective experience owning, operating and adding value to storage and logistics assets.
02
Growing energy and energy-related infrastructure requirements for crude and natural-gas processing, transport, refining, storage and logistics, given increasingly disparate locations of hydrocarbon supply and demand.
03
Develops and expands accretive strategic brownfield or greenfield storage projects.
04
High proportion of contracted, long-term revenues and highly stable cash flow.
Buy-and-build
Acquisitions completed under Bluewater ownership, building Authentix into an integrated global authentication and supply-chain integrity platform.