Fund manager Northleaf Capital Partners has purchased Lindsay Goldberg’s 49% stake in Norwegian shipping and storage operator Odjfell Terminals. Financial terms of the deal were not disclosed.

“As a global leader in bulk liquid transportation and storage, the partnership with Odfjell is very appealing to us,” said Northleaf’s managing director and co-head of infrastructure, Jamie Storrow.

“In addition, Storrow said, the assets of Odfjell Terminals US represent an excellent investment opportunity due to the strength of the underlying market fundamentals, their diversified customer base and a highly competitive market position.”

Lindsay Goldberg told Odfjell in May 2018 that it was considering a sale of its shareholding. The US private equity firm has been Odfjell’s joint venture partner in its US and European terminals business since 2011. They expanded the partnership to include Odfjell Terminals’ global operations in 2013.