Private Equity stake for Schenk

Private equity firm Argos Wityu is to become the majority shareholder in Netherlands-based Schenk Tanktransport.

Schenk, which provides logistics for gases and liquids, was founded in 1925 by the Schenk family as a sand and gravel transport company.

With Harry and Arjan Schenk, the third generation of family bosses, taking over the leadership by the end of the 1980s, the company diversified away from a pure road transporter of fuels into a logistics service provider for industrial gases, LNG, chemicals, fuels, lubricants, LPG, bitumen, and liquid food products.

The firm now employs more than 1,600 people and generates over €200 million in revenues.

“Via this investment, Argos will help the Schenk brothers to realise a stable shareholder and management transition for the company,” a statement read.

Harry Schenk, co-CEO and shareholder, said: “We are convinced that we have found a strong partner in Argos Wityu to maintain our market leading position while continuing to shape the ongoing consolidation in the industry. Both put us in a strong position for the current energy transition and associated investments.”