OMERS to sell its stake in Exolum
May 22, 2026
Stoneshield Capital today announced that it has signed an agreement to acquire a 15% stake in Exolum from OMERS, building on its existing investment in the company since January 2026. The remaining 10% of OMERS ~25% stake is separately being acquired by a global investment firm with over $100 billion in assets under management. OMERS, together with its investment partners, has been invested in Exolum since 2016. Terms of the transactions are not being disclosed.
Exolum is a Spanish-headquartered global energy logistics company specialising in the transportation, storage and distribution of refined products, bulk liquids and aviation fuels, while playing an increasingly important role in supporting the energy transition. Exolum owns a 4,000km transmission pipeline network in Spain and operates a further 2,000km pipeline network in the UK. The company also owns 68 storage terminals with more than 11 million cubic metres of capacity and serves over 48 airports globally, including Heathrow, Gatwick, Stansted, Madrid, Barcelona, Lisbon, Lima and Charles de Gaulle. Exolum has more than 2,300 employees globally and approximately €1.3bn of annual revenues.
Luca Lupo, Senior Managing Director & Head of Europe, OMERS Infrastructure, said: “Over the past decade, Exolum has evolved into a stronger, more diversified and increasingly international business with a growing role in supporting the energy transition. We have been actively involved throughout our ownership and are proud to have supported the company’s growth, diversification and progress in areas linked to lower-carbon fuels and future energy infrastructure alongside management and our investment partners. This transaction reflects both the quality of the business and our disciplined approach to active portfolio management and capital rotation.”
The transaction is expected to complete in Q3 2026, subject to certain customary closing conditions and regulatory approvals.
Additional information:
Stoneshield acquired a 4.93% stake in January 2026. Once this transaction closes, Stoneshield’s total stake in Exolum will be approximately 20%.
Following completion, Stoneshield Capital will assume three of OMERS current Board seats. The second investor will take the remaining two.
In December 2025, OMERS completed a €770 million refinancing of its stake in Exolum: https://www.omersinfrastructure.com/news/omers-completes-refinancing-for-its-stake-in-exolum.
Media contacts
Stoneshield Capital
Claudia Suárez
E: cs@stoneshieldcapital.com
T: +353 (0) 87 465 4410
OMERS
James Thompson
E: jathompson@omers.com
T: +44 (0) 7443 264 154
About Stoneshield Capital
Founded in 2018 by Felipe Morenés Botín and Juan Pepa, Stoneshield Capital is a European real assets investment firm with a global approach, focused on building and scaling leading operational platforms across sectors supported by long-term structural trends. With more than €8 billion in assets under management and a rapidly growing investment platform, Stoneshield combines investment expertise, active asset management and capital markets capabilities to deliver consistent risk-adjusted returns across cycles. The firm’s portfolio includes Neinor Homes, one of Spain’s leading listed residential developers; MiCampus, the largest student housing platform in Southern Europe; Solaria, one of Europe’s leading renewable energy and digital infrastructure platforms; and Meliá, one of Europe’s leading hospitality platforms.
About OMERS Infrastructure
OMERS Infrastructure manages infrastructure investments globally on behalf of OMERS, the defined benefit pension plan for municipal employees in the Province of Ontario, Canada, and third-party investors through its Strategic Partnership Program. OMERS Infrastructure manages approximately C$40.9 billion, including capital invested on behalf of OMERS and third parties, in approximately 30 investments located in North America, Western Europe, India and Australia, and across sectors including energy, digital and transportation. OMERS Infrastructure has employees in Toronto, New York, London, Amsterdam and Sydney.
