Funds managed by KKR have entered into separate agreements with investors to sell Central Tank Terminal (CTT), Japan, and Central Terminal Korea, in South Korea. KKR acquired CTT in 2021 and CTK in 2023.
CTK operates a tank terminal complex in Ulsan’s chemical industrial hub, and CTT has 12 terminals across Japanese regions including Kawasaki, Yokohama, Osaka, Kobe and Hiroshima, operating over 450 tanks and 420,000 kL of storage capacity.
Financial terms of the agreements have not been disclosed.
Keith Kim, Partner at KKR, says: ‘We saw an opportunity to build on CTT’s leading national network and CTK’s strategic Ulsan position to scale critical chemical storage and logistics infrastructure in high-barrier, demand-resilient markets. Working closely with CTT and CTK, we strengthened their capabilities, expanded capacity and enhanced operational excellence. Both businesses are well positioned to continue their growth journeys.’
Yasuka Miyakawa, president & CEO of CTT, comments: ‘KKR has played a valuable role in CTT’s growth, strengthening our capabilities, expanding our terminal network, and investing in the people and facilities that enable us to better serve our customers. We are grateful for KKR’s support and look forward to building on this momentum in our next chapter.’
Chansoo Kim, CEO of CTK, concludes: ‘Under KKR’s ownership, CTK has advanced its growth plans, strengthened our commercial and operational capabilities, and continued investing in safe, reliable infrastructure for our customers. We thank KKR for its collaboration and look forward to the business’ continued growth.’
