Verbrugge International N.V., an owner and operator of bulk and break-bulk port terminals and related logistics businesses based in the Netherlands, has today agreed to enter into a strategic partnership with iCON Infrastructure pursuant to which iCON Infrastructure Partners II, L.P. will become a 32% shareholder in Verbrugge.
Martin Verbrugge will continue to be the majority owner of Verbrugge and iCON II will be providing substantial new funding to Verbrugge to support the company's further growth and development. There will be no changes to Verbrugge's strong executive management team and dedicated workforce.
Verbrugge's business consists of four tri-modal port terminals located in Terneuzen, Vlissingen and Zeebrugge on the Scheldt Estuary, together with ancillary warehousing, marine and logistics businesses. Key products handled by Verbrugge include pulp and paper, fertilizers, minerals, steel and various metals.
Verbrugge operates on a land area of 277 hectares with 4.8 km of quay and over 1 million square metres of warehouses. Clients of Verbrugge benefit from proximity of the terminals to major shipping lanes, deep draft, well invested assets and good connections to the hinterland.Martin Verbrugge, President and CEO of Verbrugge International, commented:
"We are delighted to welcome iCON Infrastructure as an important partner for Verbrugge. With iCON Infrastructure's support, Verbrugge is well positioned to pursue opportunities for further growth in the coming years for the benefit of the company and all of its stakeholders"Iain Macleod, Managing Partner of iCON Infrastructure, commented:
"Verbrugge has grown significantly in recent years on the back of a substantial investment programme. We are very pleased to form a partnership with Martin Verbrugge and look forward to working together with Martin and the high quality team at Verbrugge."