Rubis Terminal acquired Tepsa, a Spanish company that provides storage for bulk base oil, lubricants and other petroleum products. The acquisition will close upon approval from Spanish administrative and antitrust authorities. Terms were not disclosed. Tepsa operates coastal terminals in Barcelona, Bilbao, Tarragona and Valencia, with a combined 912,000 cubic meters (820,000 metric tons) of storage capacity for chemicals, biofuel and other petroleum products, such as base oils and lubricants. The company generated €52 million (U.S. $62 million) in revenue in 2019 and said it has significant growth potential due to its strong position in the Spanish market, with expansion plans already underway.
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