While Summit Terminaling is known to many, we still field questions about our company and how we serve the upstream, midstream, and downstream markets. Our recent announcement of private equity funding from EIV Capital has allowed us to start fresh conversations with potential new business partners.
A Brief Introduction
The founders of Summit Terminaling have a long history in the terminaling space. With our fresh round of capital we will be looking at new liquids terminaling projects either through acquisitions, greenfield projects, or brownfield redevelopment. With the private equity investment, we are looking for good growth opportunities coupled with quality customers and clients. What makes Summit Terminaling a little different than other private equity funded midstream groups is that our founders have focused on terminals for the majority of their career. Whereas, a lot of private equity backed companies that have built a terminal did so either out of necessity or because a pipeline customer asked them for storage terminaling. As a result, Summit Terminaling has a better understanding of what makes a terminal successful for our clients. We think outside of “just” a crude oil terminal, or “just” a refined products terminal, or “just” an LPG terminal. This leads to a collaborative and service focused approach.
What We Look For In Partners
When we build a new project, we think of partners in two significant ways.
Those involved might be a client or a customer but they are still a partner as the result of a new venture and should be treated as such.
We have also been open to looking at either building or jointly operating different terminals with existing partners. This means we can help jointly develop a project and make it more successful overall.
Why Summit Terminaling?
One of the advantages of working with Summit Terminaling is the long term expertise of the team. If you are a customer looking to take out capacity at a terminal, you want to be sure that people build those the right way. For example, if you are loading crude oil it needs to be the most efficient facility available, as it drives cost down for everybody involved.
Many companies that have built terminals have done them as add ons. They don’t have a focus on building terminals. There's a difference between companies who have done this many times, learned from past projects, and know how to outperform the market today. This experience drives the cost down, makes projects move faster, and increases cash flow.
What Makes a Project Successful?
Since the equity funding was announced, we have already started looking at projects that range in size. The deciding factor for us is not necessarily the dollar amount. While that is important, we are also interested in determining project viability and whether that will lead to good returns and future growth opportunities. The big driver for successful projects is the ability to grow the project and make it scalable. When we look for partners, we look for the ability to take a single start project and grow it with a clear line of sight in place.
The Relationship Matters To Us
With our experience, we have relationships across the upstream, midstream, and downstream markets. This means our ability to push business forward is stronger as a result. The capital commitment from EIV is important but it does not automatically qualify us to earn your business as a partner. We believe strongly in product integrity, safety performance, customer service, and flexibility. That is how we will earn your business in the long term.