Cumming, GA, (April 30, 2019) – Summit Terminaling, LLC (“Summit”), a growth-oriented energy infrastructure company focused on acquiring and developing bulk liquids terminal projects, today announced an equity commitment led by EIV Capital (“EIV”), a private equity firm focused on the energy industry. The investment will allow Summit to construct, own and operate terminal assets in the United States.
Summit is based in Cumming, Georgia and led by Mike Turchi, Steve Turchi and Melissa Dugan. The executive team collectively has 100+ years of diverse bulk liquids terminal experience across commercialization, engineering, construction, operating, finance, M&A, private equity, strategy and origination. Summit offers multi-faceted services to the upstream, midstream and downstream sectors including producers, refiners, manufacturers, traders, processors, terminal operators and end-users of bulk liquid commodities offering all modes of transportation. With more than 30 terminals developed to date, Summit’s diverse product experience includes crude oil, refined products, petrochemicals, LPG, base oils, asphalts, fertilizers and renewable fuels. All service offerings are tailored to meet specific client requirements with a strong emphasis on safety, quality and customer satisfaction.
Mike Turchi, Summit Terminaling, LLC CEO, said: “We are excited to be partnered with EIV and their team of seasoned industry professionals. The principals of Summit have devoted the majority their 35+ year careers to this space and have hands on experience across the entire carbon chain. Our partnership with EIV provides Summit with an enhanced platform to continue our strategy to build a portfolio or owned and operated terminal assets.”
Patti Melcher, EIV Capital Co-Founder & Managing Partner, said: “We are pleased to partner with Summit as it builds, operates and commercializes terminal assets. Given that U.S. oil and gas production and volumes of refined products and chemicals continue to increase, Summit will provide the logistics and storage necessary to alleviate bottlenecks in constrained marketplaces.”
About Summit Terminaling, LLC
Formed in 2019, Summit Terminaling, LLC is an augmentation of Summit Terminaling Services, LLC, formed in 2001, and provides entrepreneurial, practical and cost-effective services to the terminaling industry. Summit‘s main focus is developing, operating and commercializing terminal assets and infrastructure throughout the United States. The company is headquartered in Cumming, Georgia. For more information, please visit www.summitterm.com.
About EIV Capital
Founded in 2009, EIV Capital is a Houston-based private equity firm specializing in providing growth equity to the North American energy industry. EIV Capital focuses on midstream and related service businesses with an emphasis on energy infrastructure and businesses involved in the processing, transportation, storage, or conversion of oil, natural gas and refined products. The firm’s management has extensive experience leading and investing in successful companies across the energy value chain. For more information, please visit www.eivcapital.com.
LLC EIV Capital