Westway Group LLC and Westway Terminals, a Premier Global Provider of Bulk
Liquid Storage and Related Services, Announces the Promotion of Gene McClain
to Chief Executive Officer (CEO)
NEW ORLEANS, Feb. 26, 2013 (GLOBE NEWSWIRE) -- The Board of Directors for
Westway Group LLC, owner of Westway Terminals, which is a global provider of
bulk liquid storage services, is pleased to announce the promotion of Gene
McClain from his current position as President to the role of Chief Executive
Officer for Westway Group LLC. This leadership change fills a position vacated
in the transition following the acquisition of Westway Group and its
subsidiary Westway Terminals by affiliates of EQT Infrastructure II.
The Board of Directors is confident that "Gene's deep knowledge of the Westway
portfolio, extensive experience in the industry and strong working
relationships with key clients will help to position Westway for future growth
as we meet the growing needs of Westway customers," noted Geoff Roberts,
Chairman of the Board for Westway.
Gene began his career with Westway in August of 2005 as the Regional Manager
for the Gulf Coast. During his tenure with Westway, he assumed increasing
levels of responsibility within Westway up to his most recent promotion to
President in 2011.Prior to joining Westway, Gene had over 20 years of
experience working for GATX as well as several years of prior terminal
experience working for Intercontinental Terminals.
Alex Darden, Partner at EQT Partners, Investment Advisor to EQT Infrastructure
and Board Member of Westway, said, "With the Westway acquisition that was
completed at the end of January 2013, EQT has continued to build upon its
successful investment presence in the bulk liquid terminal business and in
attractive infrastructure assets serving customers around the globe.We look
forward to developing the Westway business to meet growing customer demand."
Westway Terminals, headquartered in New Orleans LA, is a premier global
provider of bulk liquid storage and related services to clients from a network
of 19 strategic hubs located throughout North America and Europe.The business
is focused on niche liquid products and customized service offerings and
Westway has a leading market position in the agricultural and chemical
commodity sectors. Key products stored include petroleum oils, caustics,
asphalts, vegetable oils, methyl esters, chemicals and molasses products,
among others. Westway is actively acquiring and developing green-field and
brownfield expansion terminal projects to serve the growing needs of its
diverse client base. Westway's European business unit, serving clients from
its terminals located throughout Europe, is based in Amsterdam, Netherlands.
More information can be found about Westway at:www.westwayterminals.com
EQT is the leading private equity group in Northern Europe with approximately
EUR 20 billion in raised capital and multiple investment strategies. Together
with an extensive network of independent Industrial Advisors, EQT implements
its investment strategy by acquiring or financing good medium-sized to large
companies in Northern and Eastern Europe, Asia and the United States,
supporting their development into leading companies. Development is achieved
by an industrial strategy with focus on growth. Since inception, EQT has
invested more than EUR 11 billion in around 100 companies and exited close to
50. EQT-owned companies have more than 550,000 employees.
EQT Infrastructure II is the second fund within the infrastructure investment
strategy. The first fund closed in 2008 at approximately EUR 1.2 billion. EQT
Infrastructure II seeks to invest in medium-sized infrastructure companies
with a significant opportunity for value creation through accelerating growth
and implementing operational improvements. Potential investment targets are
basic infrastructure, concession-based infrastructure and
EQT Partners, acting as Investment Advisor to the general partners and
managers of each EQT fund, has around 120 investment professionals with an
extensive industrial and financial competence. EQT Partners and its affiliates
have offices in Copenhagen, Frankfurt, Helsinki, Hong Kong, Oslo, London,
Munich, New York, Shanghai, Singapore, Stockholm, Warsaw and Zurich.
More information can be found on www.eqt.se
CONTACT: Thomas A. Masilla, Jr., CFO
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