The VARO Energy Group of Companies (“Varo Energy”), a growing oil refining and distribution company serving clients in North West Europe, completed the acquisition of tank storage facilities in Eclépens near Lausanne and the entire consumer distribution and sales network for domestic heating oil, gasoline and diesel in Switzerland, from Total Suisse S.A. (“Total”).
“For the first time, Varo Energy will deliver products directly to Swiss consumers. The acquisition is a natural extension of our business, which includes our refinery in Cressier,” said Andreas Flütsch, Managing Director.
VARO Energy, which is based in Switzerland, refines, stores and distributes oil products for the North West European market. In addition to the Cressier refinery, the company owns a minority share in the Bayernoil refinery in Southern Germany, all Petrotank storage facilities throughout Germany, additional storage facilities in Switzerland and marketing businesses in both countries.
VARO Energy is owned by Carlyle International Energy Partners (CIEP) and Vitol. Financial details of the transaction were not disclosed.
About VARO Energy
VARO Energy is a growing oil refining and distribution company in North West Europe. The company refines, stores and distributes oil products in Switzerland and Germany. VARO Energy is a partnership between the global alternative asset manager The Carlyle Group and international energy and commodities company Vitol.